Pittenger & Anderson Inc. Buys New Shares in Marathon Petroleum Co. (NYSE:MPC)

Pittenger & Anderson Inc. purchased a new stake in Marathon Petroleum Co. (NYSE:MPC) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 240 shares of the oil and gas company’s stock, valued at approximately $36,000.

Several other institutional investors have also recently made changes to their positions in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Marathon Petroleum during the 4th quarter worth approximately $25,000. Bruce G. Allen Investments LLC bought a new position in shares of Marathon Petroleum in the 4th quarter worth $32,000. Tennessee Valley Asset Management Partners acquired a new position in shares of Marathon Petroleum during the fourth quarter valued at about $40,000. Peoples Bank KS acquired a new position in Marathon Petroleum during the 3rd quarter valued at about $44,000. Finally, Exchange Traded Concepts LLC grew its holdings in Marathon Petroleum by 811.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 319 shares of the oil and gas company’s stock worth $47,000 after buying an additional 284 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Ratings Changes

MPC has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price target on Marathon Petroleum from $175.00 to $211.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Raymond James upped their price target on shares of Marathon Petroleum from $175.00 to $185.00 and gave the company a “strong-buy” rating in a research note on Wednesday, January 31st. Scotiabank raised their target price on Marathon Petroleum from $175.00 to $207.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Piper Sandler upped their price target on Marathon Petroleum from $159.00 to $204.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Finally, TD Cowen boosted their price objective on shares of Marathon Petroleum from $168.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $193.77.

Insider Buying and Selling

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $170.35, for a total transaction of $170,350.00. Following the completion of the transaction, the director now owns 23,446 shares of the company’s stock, valued at $3,994,026.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is owned by company insiders.

Marathon Petroleum Trading Down 0.7 %

NYSE:MPC traded down $1.49 during mid-day trading on Friday, reaching $198.02. 696,525 shares of the company’s stock traded hands, compared to its average volume of 2,741,376. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.59 and a quick ratio of 1.13. The firm has a market capitalization of $71.35 billion, a price-to-earnings ratio of 8.48, a PEG ratio of 1.62 and a beta of 1.52. The company has a 50 day moving average price of $191.83 and a 200-day moving average price of $166.46. Marathon Petroleum Co. has a 12-month low of $104.32 and a 12-month high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, January 30th. The oil and gas company reported $3.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $1.77. Marathon Petroleum had a return on equity of 30.58% and a net margin of 6.44%. The firm had revenue of $36.26 billion for the quarter, compared to the consensus estimate of $34.90 billion. During the same quarter in the prior year, the business earned $6.65 EPS. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. On average, sell-side analysts predict that Marathon Petroleum Co. will post 20.49 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio is presently 14.02%.

About Marathon Petroleum

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.