Courier Capital LLC Buys 941 Shares of Marathon Petroleum Co. (NYSE:MPC)

Posted by Defense World Staff on Sep 14th, 2023

Courier Capital LLC boosted its stake in Marathon Petroleum Co. (NYSE:MPC – Free Report) by 41.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,221 shares of the oil and gas company’s stock after purchasing an additional 941 shares during the quarter. Courier Capital LLC’s holdings in Marathon Petroleum were worth $434,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Morgan Stanley raised its holdings in shares of Marathon Petroleum by 1.1% in the 4th quarter. Morgan Stanley now owns 7,851,320 shares of the oil and gas company’s stock valued at $913,815,000 after acquiring an additional 85,809 shares in the last quarter. FMR LLC raised its holdings in shares of Marathon Petroleum by 15.1% in the 1st quarter. FMR LLC now owns 6,281,751 shares of the oil and gas company’s stock valued at $846,968,000 after acquiring an additional 821,891 shares in the last quarter. Amundi raised its holdings in shares of Marathon Petroleum by 31.5% in the 4th quarter. Amundi now owns 4,966,996 shares of the oil and gas company’s stock valued at $582,375,000 after acquiring an additional 1,189,288 shares in the last quarter. Moneta Group Investment Advisors LLC raised its holdings in shares of Marathon Petroleum by 121,130.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,942,426 shares of the oil and gas company’s stock valued at $458,859,000 after acquiring an additional 3,939,174 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Marathon Petroleum in the 4th quarter valued at about $453,190,000. Institutional investors own 74.93% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on MPC shares. Wells Fargo & Company raised their price target on Marathon Petroleum from $142.00 to $157.00 and gave the company an “equal weight” rating in a report on Friday, September 8th. Raymond James boosted their target price on Marathon Petroleum from $150.00 to $165.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 2nd. Morgan Stanley restated an “overweight” rating and issued a $150.00 target price on shares of Marathon Petroleum in a research report on Wednesday, August 2nd. Piper Sandler boosted their target price on Marathon Petroleum from $133.00 to $143.00 in a research report on Friday, August 4th. Finally, Mizuho downgraded Marathon Petroleum from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $148.00 to $161.00 in a research report on Wednesday, August 16th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $153.00.

Read Our Latest Research Report on Marathon Petroleum

Insider Activity

In other news, SVP Shawn M. Lyon sold 8,086 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $147.15, for a total transaction of $1,189,854.90. Following the transaction, the senior vice president now directly owns 15,036 shares of the company’s stock, valued at $2,212,547.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Gregory Scott Floerke sold 8,189 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $145.80, for a total value of $1,193,956.20. Following the sale, the chief operating officer now directly owns 28,633 shares of the company’s stock, valued at $4,174,691.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Shawn M. Lyon sold 8,086 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $147.15, for a total value of $1,189,854.90. Following the completion of the sale, the senior vice president now directly owns 15,036 shares in the company, valued at $2,212,547.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,188 shares of company stock valued at $3,890,973. Company insiders own 0.28% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $155.48 on Thursday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.30 and a current ratio of 1.84. Marathon Petroleum Co. has a fifty-two week low of $89.40 and a fifty-two week high of $157.99. The stock has a 50 day moving average price of $137.04 and a two-hundred day moving average price of $125.67. The company has a market capitalization of $62.17 billion, a P/E ratio of 5.64, a PEG ratio of 1.17 and a beta of 1.62.

Marathon Petroleum (NYSE:MPC – Get Free Report) last announced its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $5.32 earnings per share for the quarter, beating the consensus estimate of $4.55 by $0.77. Marathon Petroleum had a return on equity of 36.33% and a net margin of 8.01%. The firm had revenue of $36.82 billion during the quarter, compared to the consensus estimate of $32.60 billion. During the same quarter in the previous year, the company posted $10.61 earnings per share. The business’s revenue was down 32.2% on a year-over-year basis. Analysts expect that Marathon Petroleum Co. will post 21.57 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th were paid a dividend of $0.75 per share. The ex-dividend date was Tuesday, August 15th. This represents a $3.00 annualized dividend and a dividend yield of 1.93%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 10.89%.

Marathon Petroleum Profile

(Free Report)

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. 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.