Allen Mooney & Barnes Investment Advisors LLC Boosts Position in Marathon Petroleum Co. (NYSE:MPC)

Allen Mooney & Barnes Investment Advisors LLC raised its stake in Marathon Petroleum Co. (NYSE:MPC) by 63.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,591 shares of the oil and gas company’s stock after buying an additional 1,009 shares during the period. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Marathon Petroleum were worth $362,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of Marathon Petroleum by 342.1% in the 3rd quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock valued at $911,274,000 after purchasing an additional 4,328,470 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Marathon Petroleum by 8.8% during the third quarter. Pacer Advisors Inc. now owns 2,905,610 shares of the oil and gas company’s stock valued at $473,353,000 after buying an additional 235,795 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Marathon Petroleum by 45.4% in the third quarter. Bank of Montreal Can now owns 1,329,422 shares of the oil and gas company’s stock valued at $217,560,000 after purchasing an additional 415,368 shares during the period. International Assets Investment Management LLC increased its holdings in Marathon Petroleum by 19,153.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company’s stock worth $213,605,000 after buying an additional 1,304,372 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in shares of Marathon Petroleum by 6.0% in the second quarter. Canada Pension Plan Investment Board now owns 1,285,248 shares of the oil and gas company’s stock worth $222,965,000 after acquiring an additional 72,192 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell bought 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were purchased at an average cost of $149.61 per share, with a total value of $897,660.00. Following the purchase, the director now directly owns 6,090 shares in the company, valued at approximately $911,124.90. This represents a 6,666.67 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $149.54 on Wednesday. The stock has a market capitalization of $48.06 billion, a P/E ratio of 11.85, a PEG ratio of 2.56 and a beta of 1.42. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. Marathon Petroleum Co. has a fifty-two week low of $130.54 and a fifty-two week high of $221.11. The company has a 50 day moving average price of $147.88 and a 200 day moving average price of $159.57.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.90. The business had revenue of $35.37 billion during the quarter, compared to analysts’ expectations of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The company’s revenue was down 14.9% on a year-over-year basis. During the same period in the previous year, the firm posted $8.14 earnings per share. Equities research analysts forecast that Marathon Petroleum Co. will post 9.47 EPS for the current year.

Marathon Petroleum declared that its board has approved a stock buyback program on Tuesday, November 5th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Marathon Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were paid a dividend of $0.91 per share. The ex-dividend date was Wednesday, November 20th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 dividend on an annualized basis and a yield of 2.43%. Marathon Petroleum’s dividend payout ratio is 28.84%.

Analysts Set New Price Targets

Several brokerages recently weighed in on MPC. Mizuho decreased their price target on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Barclays reduced their target price on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. TD Cowen reissued a “buy” rating and issued a $170.00 price target on shares of Marathon Petroleum in a report on Tuesday, December 10th. Piper Sandler cut their price objective on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Finally, Bank of America initiated coverage on shares of Marathon Petroleum in a report on Thursday, October 17th. They set a “neutral” rating and a $174.00 target price for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.73.

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.