Turtle Creek Wealth Advisors LLC Decreases Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Turtle Creek Wealth Advisors LLC lessened its position in Marathon Petroleum Co. (NYSE:MPC) by 42.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 16,962 shares of the oil and gas company’s stock after selling 12,558 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Marathon Petroleum were worth $2,366,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Gladius Capital Management LP acquired a new stake in shares of Marathon Petroleum in the third quarter valued at approximately $26,000. MeadowBrook Investment Advisors LLC increased 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 worth $28,000 after acquiring an additional 80 shares during the last quarter. True Wealth Design LLC increased its stake in Marathon Petroleum by 672.7% during the third 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. acquired a new stake in Marathon Petroleum during the third quarter worth $30,000. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Marathon Petroleum in the third quarter valued at $33,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MPC shares. Mizuho dropped their price objective on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Wells Fargo & Company decreased their target price on Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating for the company in a report on Friday, January 10th. 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 report on Friday, January 17th. JPMorgan Chase & Co. decreased their target price on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, Barclays decreased their target price on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $181.20.

Insider Transactions at Marathon Petroleum

In related news, Director Jeffrey C. Campbell purchased 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were purchased at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the transaction, the director now directly owns 6,090 shares of the company’s stock, valued at approximately $911,124.90. The trade was a 6,666.67 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.21% of the company’s stock.

Marathon Petroleum Stock Down 1.0 %

MPC opened at $149.87 on Friday. The business’s 50-day simple moving average is $146.52 and its 200-day simple moving average is $158.23. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. Marathon Petroleum Co. has a one year low of $130.54 and a one year high of $221.11. The stock has a market capitalization of $48.17 billion, a P/E ratio of 11.88, a price-to-earnings-growth ratio of 2.88 and a beta of 1.42.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 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 business had revenue of $35.37 billion for the quarter, compared to analysts’ expectations of $34.34 billion. During the same quarter in the previous year, the firm earned $8.14 earnings per share. The business’s revenue was down 14.9% compared to the same quarter last year. Analysts anticipate that Marathon Petroleum Co. will post 8.88 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 28.84%.

Marathon Petroleum declared 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 outstanding shares. This repurchase authorization authorizes the oil and gas company to buy up to 10% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.