Fountainhead AM LLC Makes New Investment in Marathon Petroleum Co. (NYSE:MPC)

Fountainhead AM LLC bought a new position in Marathon Petroleum Co. (NYSE:MPC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,384 shares of the oil and gas company’s stock, valued at approximately $205,000.

Other large investors have also added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Marathon Petroleum in the fourth quarter worth about $25,000. Bruce G. Allen Investments LLC bought a new position in Marathon Petroleum in the fourth quarter worth about $32,000. Tennessee Valley Asset Management Partners bought a new position in Marathon Petroleum in the fourth quarter worth about $40,000. Peoples Bank KS bought a new position in Marathon Petroleum in the third quarter worth about $44,000. Finally, Exchange Traded Concepts LLC raised its holdings in Marathon Petroleum by 811.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 319 shares of the oil and gas company’s stock worth $47,000 after purchasing an additional 284 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Stock Performance

Marathon Petroleum stock traded up $1.47 during mid-day trading on Tuesday, hitting $199.72. The company had a trading volume of 1,703,070 shares, compared to its average volume of 2,802,556. The company has a current ratio of 1.59, a quick ratio of 1.13 and a debt-to-equity ratio of 0.83. Marathon Petroleum Co. has a 12-month low of $104.32 and a 12-month high of $221.11. The company’s fifty day moving average is $190.68 and its 200-day moving average is $165.99. The company has a market capitalization of $71.97 billion, a price-to-earnings ratio of 8.49, a P/E/G ratio of 1.69 and a beta of 1.52.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, January 30th. The oil and gas company reported $3.98 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $34.90 billion. During the same quarter last year, the firm posted $6.65 EPS. The business’s revenue was down 8.9% on a year-over-year basis. Equities research analysts predict that Marathon Petroleum Co. will post 19.42 EPS for the current year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Wednesday, February 21st were paid a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.65%. The ex-dividend date was Tuesday, February 20th. Marathon Petroleum’s dividend payout ratio is currently 14.02%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Marathon Petroleum from $172.00 to $186.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Citigroup assumed coverage on shares of Marathon Petroleum in a report on Wednesday, January 24th. They set a “neutral” rating on the stock. StockNews.com upgraded shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a report on Saturday, March 9th. Wells Fargo & Company upped their price objective on shares of Marathon Petroleum from $214.00 to $227.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Finally, Piper Sandler upped their price objective on shares of Marathon Petroleum from $159.00 to $204.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Five investment 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 data from MarketBeat, Marathon Petroleum has an average rating of “Moderate Buy” and an average target price of $193.77.

Insider Activity at Marathon Petroleum

In related news, Director Kim K.W. Rucker sold 1,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $170.35, for a total value of $170,350.00. Following the completion of the transaction, 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 filing with the SEC, which can be accessed through the SEC website. 0.21% of the stock is owned by corporate insiders.

Marathon Petroleum Company 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.