Marathon Petroleum Co. (NYSE:MPC) Shares Bought by Wealthspire Advisors LLC

Wealthspire Advisors LLC lifted its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 5.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,938 shares of the oil and gas company’s stock after acquiring an additional 344 shares during the quarter. Wealthspire Advisors LLC’s holdings in Marathon Petroleum were worth $968,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Wellington Management Group LLP boosted its stake in shares of Marathon Petroleum by 342.1% during the 3rd 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 in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Marathon Petroleum by 22.3% during the 4th quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company’s stock worth $495,595,000 after acquiring an additional 647,045 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Marathon Petroleum by 45.4% during the 3rd quarter. Bank of Montreal Can now owns 1,329,422 shares of the oil and gas company’s stock worth $217,560,000 after acquiring an additional 415,368 shares in the last quarter. National Pension Service boosted its stake in shares of Marathon Petroleum by 3.1% during the 3rd quarter. National Pension Service now owns 977,250 shares of the oil and gas company’s stock worth $159,204,000 after acquiring an additional 29,008 shares in the last quarter. Finally, AustralianSuper Pty Ltd boosted its stake in shares of Marathon Petroleum by 1.9% during the 4th quarter. AustralianSuper Pty Ltd now owns 918,361 shares of the oil and gas company’s stock worth $128,111,000 after acquiring an additional 16,825 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Price Performance

NYSE MPC opened at $150.60 on Wednesday. Marathon Petroleum Co. has a fifty-two week low of $130.54 and a fifty-two week high of $221.11. The stock’s 50-day moving average is $147.27 and its two-hundred day moving average is $156.07. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The firm has a market cap of $48.40 billion, a P/E ratio of 15.17, a price-to-earnings-growth ratio of 3.11 and a beta of 1.41.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.71. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The company had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. During the same period last year, the company earned $3.98 earnings per share. The business’s revenue was down 9.1% compared to the same quarter last year. On average, analysts anticipate that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th will be paid a $0.91 dividend. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.42%. Marathon Petroleum’s payout ratio is presently 36.66%.

Marathon Petroleum declared that its board has approved a share repurchase program 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 purchase up to 10% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

MPC has been the subject of several research reports. Barclays reduced their price objective 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. Wells Fargo & Company raised their target price on Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Tudor Pickering raised Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. 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 report on Monday, December 16th. Finally, Raymond James raised their target price on Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, seven have given 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.27.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell acquired 6,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were acquired at an average cost of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the purchase, the director now owns 6,090 shares of the company’s stock, valued at approximately $911,124.90. This trade represents a 6,666.67 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

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.