Chickasaw Capital Management LLC Buys 1,000 Shares of Marathon Petroleum Co. (NYSE:MPC)

Chickasaw Capital Management LLC grew its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 43.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,315 shares of the oil and gas company’s stock after purchasing an additional 1,000 shares during the quarter. Chickasaw Capital Management LLC’s holdings in Marathon Petroleum were worth $462,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Gladius Capital Management LP bought a new position in shares of Marathon Petroleum during the 3rd quarter worth approximately $26,000. MeadowBrook Investment Advisors LLC grew its stake 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 during the last quarter. True Wealth Design LLC lifted its position 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. bought a new stake in shares of Marathon Petroleum during the third quarter worth approximately $30,000. Finally, Darwin Wealth Management LLC acquired a new position in shares of Marathon Petroleum in the third quarter valued at approximately $33,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Stock Up 0.2 %

Shares of MPC stock traded up $0.23 on Tuesday, reaching $140.76. 1,893,590 shares of the company were exchanged, compared to its average volume of 2,650,014. Marathon Petroleum Co. has a one year low of $130.54 and a one year high of $221.11. The company has a market cap of $45.24 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 2.56 and a beta of 1.42. The company has a 50-day moving average of $148.04 and a 200-day moving average of $160.82. 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 (NYSE:MPC) last issued its quarterly earnings data 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 firm had revenue of $35.37 billion during the quarter, compared to analyst estimates of $34.34 billion. During the same period in the previous year, the company posted $8.14 EPS. The company’s revenue for the quarter was down 14.9% on a year-over-year basis. Analysts anticipate that Marathon Petroleum Co. will post 9.47 earnings per share for the current year.

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 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th were given a dividend of $0.91 per share. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend was Wednesday, November 20th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 28.84%.

Insiders Place Their Bets

In related news, Director Jeffrey C. Campbell purchased 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were bought at an average cost of $149.61 per share, with a total value of $897,660.00. Following the acquisition, the director now owns 6,090 shares of the company’s stock, valued at $911,124.90. This 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 currently owned by insiders.

Analysts Set New Price Targets

MPC has been the topic of a number of analyst reports. Piper Sandler decreased their target price on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th. Mizuho lowered their price objective on shares of 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 dropped their price objective on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Scotiabank decreased their price target on shares of Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, TD Cowen reissued a “buy” rating and issued a $170.00 price objective on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $184.00.

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.