Marathon Petroleum Co. (NYSE:MPC) Shares Acquired by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lifted its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,473 shares of the oil and gas company’s stock after buying an additional 94 shares during the period. EverSource Wealth Advisors LLC’s holdings in Marathon Petroleum were worth $960,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Marathon Petroleum in the 4th quarter valued at $25,000. Bruce G. Allen Investments LLC purchased a new position in Marathon Petroleum in the 4th quarter valued at about $32,000. Bare Financial Services Inc purchased a new position in Marathon Petroleum in the 4th quarter valued at about $32,000. Manchester Capital Management LLC boosted its position in Marathon Petroleum by 97.2% in the 4th quarter. Manchester Capital Management LLC now owns 215 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 106 shares during the last quarter. Finally, Pittenger & Anderson Inc. purchased a new position in Marathon Petroleum in the 4th quarter valued at about $36,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 1,000 shares of the firm’s stock in a transaction that occurred 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 owns 23,446 shares in the company, valued at $3,994,026.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on MPC. The Goldman Sachs Group upped their price objective on shares of Marathon Petroleum from $175.00 to $211.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Piper Sandler reduced their price target on shares of Marathon Petroleum from $204.00 to $190.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 14th. Citigroup initiated coverage on shares of Marathon Petroleum in a research report on Wednesday, January 24th. They set a “neutral” rating on the stock. Wells Fargo & Company increased their price target on shares of Marathon Petroleum from $214.00 to $227.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Finally, Scotiabank increased their price target on shares of Marathon Petroleum from $175.00 to $207.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average target price of $190.77.

Marathon Petroleum Stock Performance

NYSE MPC traded up $0.60 during trading hours on Wednesday, reaching $177.18. The company’s stock had a trading volume of 1,138,886 shares, compared to its average volume of 2,712,139. The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. The business has a 50-day simple moving average of $194.99 and a 200 day simple moving average of $170.67. Marathon Petroleum Co. has a 52 week low of $104.32 and a 52 week high of $221.11. The stock has a market cap of $62.43 billion, a PE ratio of 8.82, a PEG ratio of 1.49 and a beta of 1.55.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.25. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The firm had revenue of $32.71 billion for the quarter, compared to analysts’ expectations of $32.07 billion. During the same quarter last year, the company posted $6.09 earnings per share. Marathon Petroleum’s revenue was down 6.2% on a year-over-year basis. Equities research analysts predict that Marathon Petroleum Co. will post 19.7 earnings per share for the current fiscal year.

Marathon Petroleum announced that its Board of Directors has approved a stock repurchase plan on Tuesday, April 30th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire up to 7.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be paid a $0.825 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $3.30 annualized dividend and a dividend yield of 1.86%. Marathon Petroleum’s payout ratio is currently 16.48%.

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.