Smith Salley Wealth Management Has $344,000 Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Smith Salley Wealth Management lessened its stake in Marathon Petroleum Co. (NYSE:MPC) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,464 shares of the oil and gas company’s stock after selling 95 shares during the quarter. Smith Salley Wealth Management’s holdings in Marathon Petroleum were worth $344,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its holdings in shares of Marathon Petroleum by 0.9% during the second quarter. EverSource Wealth Advisors LLC now owns 7,165 shares of the oil and gas company’s stock valued at $1,268,000 after acquiring an additional 61 shares in the last quarter. Paragon Capital Management Inc. increased its holdings in shares of Marathon Petroleum by 0.6% during the second quarter. Paragon Capital Management Inc. now owns 10,196 shares of the oil and gas company’s stock valued at $1,769,000 after acquiring an additional 65 shares in the last quarter. Catalyst Financial Partners LLC increased its holdings in shares of Marathon Petroleum by 1.6% during the third quarter. Catalyst Financial Partners LLC now owns 4,285 shares of the oil and gas company’s stock valued at $698,000 after acquiring an additional 67 shares in the last quarter. American Trust increased its holdings in shares of Marathon Petroleum by 5.3% during the third quarter. American Trust now owns 1,397 shares of the oil and gas company’s stock valued at $228,000 after acquiring an additional 70 shares in the last quarter. Finally, Financial Partners Group LLC increased its holdings in shares of Marathon Petroleum by 3.3% during the third quarter. Financial Partners Group LLC now owns 2,220 shares of the oil and gas company’s stock valued at $362,000 after acquiring an additional 71 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on MPC shares. JPMorgan Chase & Co. cut their target price on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Raymond James lifted their target price on Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a research report on Friday. Citigroup cut their target price on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. TD Cowen reaffirmed a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Finally, Bank of America started coverage on Marathon Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $174.00 target price on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.20.

Marathon Petroleum Stock Up 0.7 %

MPC stock opened at $152.83 on Monday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The company has a market capitalization of $49.12 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 2.51 and a beta of 1.42. Marathon Petroleum Co. has a fifty-two week low of $130.54 and a fifty-two week high of $221.11. The stock has a fifty day moving average of $147.76 and a 200-day moving average of $159.21.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.90. The company had revenue of $35.37 billion during the quarter, compared to the consensus estimate of $34.34 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 14.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $8.14 EPS. As a group, equities research analysts predict that Marathon Petroleum Co. will post 9.38 earnings per share for the current year.

Marathon Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th were issued a dividend of $0.91 per share. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a yield of 2.38%. Marathon Petroleum’s dividend payout ratio is 28.84%.

Marathon Petroleum announced that its Board of Directors has initiated a share repurchase program on Tuesday, November 5th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to buy up to 10% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Jeffrey C. Campbell acquired 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were acquired 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 of the company’s stock, valued at approximately $911,124.90. This trade represents a 6,666.67 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.21% of the stock is currently owned by insiders.

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.