Bessemer Group Inc. Decreases Stake in Marathon Petroleum Corporation (NYSE:MPC)

Bessemer Group Inc. reduced its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 12.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,017 shares of the oil and gas company’s stock after selling 3,768 shares during the quarter. Bessemer Group Inc.’s holdings in Marathon Petroleum were worth $3,937,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $27,000. Cape Investment Advisory Inc. grew its position in shares of Marathon Petroleum by 762.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock worth $42,000 after buying an additional 267 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $44,000. Finally, Capital A Wealth Management LLC bought a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $52,000. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Stock Up 0.1%

Shares of NYSE:MPC opened at $167.69 on Friday. The stock has a fifty day simple moving average of $155.91 and a two-hundred day simple moving average of $147.39. The stock has a market capitalization of $51.52 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 3.30 and a beta of 0.89. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $183.31. The company has a current ratio of 1.19, a quick ratio of 0.73 and a debt-to-equity ratio of 1.16.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. The business had revenue of $31.85 billion during the quarter, compared to analysts’ expectations of $28.91 billion. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.58 earnings per share. On average, research analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Wednesday, May 21st. Marathon Petroleum’s dividend payout ratio is currently 51.20%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Marathon Petroleum from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Barclays lifted their price target on Marathon Petroleum from $141.00 to $159.00 and gave the company an “overweight” rating in a research report on Monday, May 12th. TD Cowen lifted their price target on Marathon Petroleum from $152.00 to $163.00 and gave the company a “buy” rating in a research report on Tuesday, June 10th. Piper Sandler dropped their price target on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Finally, Morgan Stanley dropped their price target on Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $175.80.

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.