Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Armstrong Advisory Group Inc.

Armstrong Advisory Group Inc. decreased its position in Marathon Petroleum Co. (NYSE:MPC) by 51.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 364 shares of the oil and gas company’s stock after selling 380 shares during the period. Armstrong Advisory Group Inc.’s holdings in Marathon Petroleum were worth $51,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Transactions at Marathon Petroleum

In related news, Director Jeffrey C. Campbell purchased 6,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was acquired at an average cost 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 approximately $911,124.90. This trade represents a 6,666.67 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on MPC. Piper Sandler decreased their target price on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Bank of America assumed coverage on Marathon Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price objective for the company. Barclays dropped their target price on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Scotiabank decreased their price target on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Citigroup dropped their price objective on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum has an average rating of “Moderate Buy” and a consensus target price of $183.73.

Marathon Petroleum Trading Down 0.1 %

Shares of Marathon Petroleum stock opened at $151.74 on Friday. 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 twelve month low of $130.54 and a twelve month high of $221.11. The firm has a market capitalization of $48.77 billion, a PE ratio of 12.02, a P/E/G ratio of 2.51 and a beta of 1.42. The firm’s 50-day moving average price is $147.82 and its 200 day moving average price is $159.52.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.90. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The firm had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. During the same period in the previous year, the company posted $8.14 earnings per share. The business’s revenue was down 14.9% on a year-over-year basis. On average, sell-side analysts predict that Marathon Petroleum Co. will post 9.38 EPS for the current fiscal year.

Marathon Petroleum announced that its Board of Directors has initiated a stock buyback plan on Tuesday, November 5th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 10% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th were issued a dividend of $0.91 per share. This is a positive change 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 dividend yield of 2.40%. Marathon Petroleum’s dividend payout ratio is presently 28.84%.

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.