Sunpointe LLC Acquires 348 Shares of Marathon Petroleum Co. (NYSE:MPC)

Sunpointe LLC boosted its holdings in Marathon Petroleum Co. (NYSE:MPC) by 27.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,600 shares of the oil and gas company’s stock after purchasing an additional 348 shares during the quarter. Sunpointe LLC’s holdings in Marathon Petroleum were worth $223,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MPC. Gladius Capital Management LP bought a new position in shares of Marathon Petroleum during the 3rd quarter worth about $26,000. MeadowBrook Investment Advisors LLC increased its position in Marathon Petroleum by 88.9% in the 3rd 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 in the last quarter. True Wealth Design LLC increased its position 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 valued at $28,000 after buying an additional 148 shares in the last quarter. Asset Planning Inc bought a new stake in Marathon Petroleum in the 4th quarter valued at about $28,000. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Marathon Petroleum during the third quarter valued at approximately $30,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MPC shares. TD Cowen restated a “buy” rating and set a $170.00 price objective on shares of Marathon Petroleum in a report on Tuesday, December 10th. Barclays decreased their price target on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Tudor Pickering raised shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Wells Fargo & Company boosted their target price on shares of Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Finally, Mizuho decreased their price objective on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a report on Monday, December 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.27.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell bought 6,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the director now directly owns 6,090 shares of the company’s stock, valued at $911,124.90. This trade represents a 6,666.67 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.21% of the stock is owned by corporate insiders.

Marathon Petroleum Stock Up 1.1 %

Shares of NYSE:MPC opened at $158.30 on Friday. The company has a market capitalization of $50.87 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 3.13 and a beta of 1.41. 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 business has a fifty day moving average price of $146.56 and a two-hundred day moving average price of $156.64. Marathon Petroleum Co. has a 1 year low of $130.54 and a 1 year high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its quarterly 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 net margin of 2.45% and a return on equity of 12.07%. The company had revenue of $33.47 billion during the quarter, compared to analyst estimates of $31.94 billion. During the same quarter in the prior year, the business earned $3.98 earnings per share. The firm’s revenue for the quarter was down 9.1% on a year-over-year basis. Analysts forecast that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio (DPR) is 36.66%.

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 purchase up to 10% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

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.