Peterson Wealth Services Raises Position in Marathon Petroleum Co. (NYSE:MPC)

Peterson Wealth Services lifted its position in Marathon Petroleum Co. (NYSE:MPC) by 5.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,517 shares of the oil and gas company’s stock after acquiring an additional 887 shares during the period. Peterson Wealth Services’ holdings in Marathon Petroleum were worth $2,444,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Gladius Capital Management LP bought a new position in Marathon Petroleum in the third quarter worth $26,000. MeadowBrook Investment Advisors LLC grew its position in shares of 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 worth $28,000 after buying an additional 80 shares during the period. True Wealth Design LLC increased its stake in shares of 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 in the last quarter. Harbor Capital Advisors Inc. bought a new stake in Marathon Petroleum during the third quarter worth about $30,000. Finally, Darwin Wealth Management LLC purchased a new stake in Marathon Petroleum in the third quarter worth about $33,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

MPC stock opened at $153.84 on Tuesday. The company has a market cap of $49.44 billion, a P/E ratio of 15.49, a price-to-earnings-growth ratio of 2.91 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. Marathon Petroleum Co. has a 1 year low of $130.54 and a 1 year high of $221.11. The stock’s fifty day moving average price is $145.91 and its 200-day moving average price is $157.51.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.71. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The business had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $31.94 billion. During the same period in the previous year, the company posted $3.98 EPS. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. On average, equities analysts forecast that Marathon Petroleum Co. will post 8.7 earnings per share for the current year.

Marathon Petroleum announced that its board has approved a share repurchase program on Tuesday, November 5th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th will be given a $0.91 dividend. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 annualized dividend and a yield of 2.37%. Marathon Petroleum’s payout ratio is presently 36.66%.

Insider Transactions at Marathon Petroleum

In related news, Director Jeffrey C. Campbell acquired 6,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were purchased at an average cost of $149.61 per share, with a total value of $897,660.00. Following the transaction, the director now directly owns 6,090 shares in the company, valued at approximately $911,124.90. This represents a 6,666.67 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

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

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.