Scissortail Wealth Management LLC Takes Position in Marathon Petroleum Co. (NYSE:MPC)

Scissortail Wealth Management LLC purchased a new stake in Marathon Petroleum Co. (NYSE:MPC) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 45,013 shares of the oil and gas company’s stock, valued at approximately $7,208,000. Marathon Petroleum comprises 2.3% of Scissortail Wealth Management LLC’s investment portfolio, making the stock its 11th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gleason Group Inc. grew its position in shares of Marathon Petroleum by 75.2% in the third quarter. Gleason Group Inc. now owns 191 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 82 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new stake in Marathon Petroleum during the fourth quarter worth about $32,000. Tennessee Valley Asset Management Partners acquired a new stake in Marathon Petroleum during the fourth quarter worth about $40,000. Mascoma Wealth Management LLC acquired a new stake in Marathon Petroleum during the third quarter worth about $43,000. Finally, Peoples Bank KS acquired a new stake in Marathon Petroleum during the third quarter worth about $44,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Trading Down 1.5 %

MPC traded down $3.15 during trading on Tuesday, reaching $203.88. 1,599,552 shares of the company’s stock were exchanged, compared to its average volume of 2,865,474. Marathon Petroleum Co. has a fifty-two week low of $104.32 and a fifty-two week high of $221.11. The firm has a market capitalization of $73.46 billion, a PE ratio of 8.64, a P/E/G ratio of 1.98 and a beta of 1.52. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.13 and a current ratio of 1.59. The company’s fifty day moving average price is $187.05 and its 200-day moving average price is $163.74.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, January 30th. The oil and gas company reported $3.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $1.77. Marathon Petroleum had a net margin of 6.44% and a return on equity of 30.58%. The company had revenue of $36.26 billion during the quarter, compared to analyst estimates of $34.90 billion. During the same quarter in the previous year, the business earned $6.65 EPS. The firm’s revenue was down 8.9% on a year-over-year basis. As a group, equities analysts forecast that Marathon Petroleum Co. will post 17.53 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Wednesday, February 21st were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Tuesday, February 20th. Marathon Petroleum’s dividend payout ratio (DPR) is 14.02%.

Insider Activity at Marathon Petroleum

In related news, Director Kim K.W. Rucker sold 1,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $170.35, for a total value of $170,350.00. Following the sale, the director now directly owns 23,446 shares of the company’s stock, valued at approximately $3,994,026.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Bank of America raised their price target on shares of Marathon Petroleum from $185.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. TD Cowen lifted their target price 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. The Goldman Sachs Group lifted their target price on shares of Marathon Petroleum from $175.00 to $211.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Raymond James lifted their target price 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. Finally, Citigroup assumed coverage on shares of Marathon Petroleum in a research note on Wednesday, January 24th. They issued a “neutral” rating for the company. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $193.77.

Marathon Petroleum Profile

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.