Perigon Wealth Management LLC Has $463,000 Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Perigon Wealth Management LLC lessened its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 13.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,123 shares of the oil and gas company’s stock after selling 482 shares during the period. Perigon Wealth Management LLC’s holdings in Marathon Petroleum were worth $463,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in MPC. Morgan Stanley grew its position 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 during the period. Northern Trust Corp increased its position in Marathon Petroleum by 1.0% during the third quarter. Northern Trust Corp now owns 4,526,814 shares of the oil and gas company’s stock worth $685,088,000 after buying an additional 43,989 shares during the last quarter. Raymond James & Associates raised its stake in Marathon Petroleum by 2.4% in the fourth quarter. Raymond James & Associates now owns 4,102,057 shares of the oil and gas company’s stock valued at $608,581,000 after buying an additional 96,753 shares during the period. Moneta Group Investment Advisors LLC lifted its position in shares of Marathon Petroleum by 121,130.8% in the fourth 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 buying an additional 3,939,174 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Marathon Petroleum during the 4th quarter worth approximately $453,190,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MPC shares. Barclays lifted their price objective on shares of Marathon Petroleum from $168.00 to $221.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Scotiabank increased their price target on shares of Marathon Petroleum from $175.00 to $207.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Citigroup assumed coverage on Marathon Petroleum in a research report on Wednesday, January 24th. They issued a “neutral” rating on the stock. Bank of America upped their price objective on Marathon Petroleum from $185.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Finally, Raymond James lifted their target price on Marathon Petroleum from $175.00 to $185.00 and gave the stock a “strong-buy” rating in a report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average price target of $193.77.

Insider Buying and Selling

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 1,000 shares of the stock in a transaction dated 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 in the company, valued at $3,994,026.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is currently owned by corporate insiders.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $207.02 on Tuesday. The stock has a fifty day moving average of $187.05 and a 200-day moving average of $163.74. The stock has a market capitalization of $74.60 billion, a P/E ratio of 8.80, a price-to-earnings-growth 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. Marathon Petroleum Co. has a 52 week low of $104.32 and a 52 week high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, January 30th. The oil and gas company reported $3.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $1.77. The company had revenue of $36.26 billion for the quarter, compared to the consensus estimate of $34.90 billion. Marathon Petroleum had a net margin of 6.44% and a return on equity of 30.58%. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period last year, the company posted $6.65 EPS. On average, sell-side analysts expect that Marathon Petroleum Co. will post 17.53 earnings per share for the current fiscal 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 paid a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Tuesday, February 20th. Marathon Petroleum’s payout ratio is 14.02%.

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.