SteelPeak Wealth LLC Sells 9,695 Shares of Marathon Petroleum Co. (NYSE:MPC)

SteelPeak Wealth LLC lowered its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 37.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 16,041 shares of the oil and gas company’s stock after selling 9,695 shares during the period. SteelPeak Wealth LLC’s holdings in Marathon Petroleum were worth $2,238,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MPC. Gladius Capital Management LP purchased a new position in shares of Marathon Petroleum during the third quarter valued at about $26,000. MeadowBrook Investment Advisors LLC boosted its stake in Marathon Petroleum by 88.9% during the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 80 shares during the last quarter. True Wealth Design LLC increased its stake in Marathon Petroleum by 672.7% in the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 148 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Marathon Petroleum during the 3rd quarter worth approximately $30,000. Finally, Darwin Wealth Management LLC bought a new position in shares of Marathon Petroleum during the 3rd quarter valued at approximately $33,000. Institutional investors own 76.77% of the company’s stock.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell acquired 6,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was purchased at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the acquisition, the director now owns 6,090 shares in the company, valued at approximately $911,124.90. This trade represents a 6,666.67 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on MPC shares. Raymond James lifted their price target 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. Bank of America initiated 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. Mizuho lowered their price target 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. Barclays cut their price objective on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Finally, Scotiabank dropped their price target on shares of 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. Two equities 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $181.20.

Marathon Petroleum Stock Up 0.5 %

Marathon Petroleum stock opened at $151.45 on Thursday. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The firm has a market cap of $48.67 billion, a P/E ratio of 12.00, a P/E/G ratio of 2.88 and a beta of 1.42. The business has a fifty day moving average of $146.87 and a two-hundred day moving average of $158.34. Marathon Petroleum Co. has a twelve month low of $130.54 and a twelve month high of $221.11.

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 company had revenue of $35.37 billion for 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 revenue for the quarter was down 14.9% compared to the same quarter last year. During the same quarter last year, the company earned $8.14 earnings per share. On average, analysts forecast that Marathon Petroleum Co. will post 8.88 earnings per share for the current fiscal year.

Marathon Petroleum announced that its Board of Directors has authorized a stock repurchase 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 shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be paid a dividend of $0.91 per share. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 annualized dividend and a dividend yield of 2.40%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 28.84%.

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.