Gilliland Jeter Wealth Management LLC Acquires 240 Shares of Marathon Petroleum Co. (NYSE:MPC)

Gilliland Jeter Wealth Management LLC raised its holdings in Marathon Petroleum Co. (NYSE:MPC) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,709 shares of the oil and gas company’s stock after purchasing an additional 240 shares during the quarter. Marathon Petroleum makes up about 1.2% of Gilliland Jeter Wealth Management LLC’s investment portfolio, making the stock its 21st largest position. Gilliland Jeter Wealth Management LLC’s holdings in Marathon Petroleum were worth $3,586,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Marathon Petroleum by 342.1% during the third quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock worth $911,274,000 after acquiring an additional 4,328,470 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Marathon Petroleum by 19,153.8% in the third quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company’s stock valued at $213,605,000 after purchasing an additional 1,304,372 shares during the last quarter. ING Groep NV bought a new stake in Marathon Petroleum in the third quarter valued at about $114,107,000. Pacer Advisors Inc. increased its holdings in Marathon Petroleum by 22.3% in the fourth quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company’s stock valued at $495,595,000 after purchasing an additional 647,045 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in Marathon Petroleum by 212.9% in the third quarter. National Bank of Canada FI now owns 846,756 shares of the oil and gas company’s stock valued at $137,945,000 after purchasing an additional 576,119 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on MPC. Citigroup dropped their price objective on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Barclays decreased 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. Mizuho decreased their target price on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Scotiabank decreased their target price on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, TD Cowen reissued a “buy” rating and issued a $170.00 target price on shares of Marathon Petroleum in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $181.27.

Insider Buying and Selling

In other Marathon Petroleum news, Director Jeffrey C. Campbell bought 6,000 shares of Marathon Petroleum stock in a transaction on Wednesday, December 4th. The shares were purchased at an average price of $149.61 per share, with a total value of $897,660.00. Following the acquisition, the director now owns 6,090 shares in the company, valued at $911,124.90. This trade represents a 6,666.67 % increase in their position. The acquisition 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 company insiders.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $151.74 on Friday. The firm has a market cap of $48.77 billion, a P/E ratio of 12.02, a price-to-earnings-growth ratio of 2.77 and a beta of 1.41. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a 1-year low of $130.54 and a 1-year high of $221.11. The business’s 50 day moving average is $146.10 and its 200-day moving average is $157.78.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. The company had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.98 earnings per share. Equities research analysts predict that Marathon Petroleum Co. will post 8.88 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio is currently 28.84%.

Marathon Petroleum announced that its Board of Directors has authorized a share buyback plan on Tuesday, November 5th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to buy up to 10% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Marathon Petroleum Company 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.