Everpar Advisors LLC reduced its position in shares of Marathon Petroleum Co. (NYSE:MPC – Free Report) by 13.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,796 shares of the oil and gas company’s stock after selling 285 shares during the period. Everpar Advisors LLC’s holdings in Marathon Petroleum were worth $251,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Gladius Capital Management LP purchased a new stake in shares of Marathon Petroleum during the 3rd 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 lifted 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 valued at $28,000 after purchasing an additional 148 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Marathon Petroleum during the 3rd quarter worth $30,000. Finally, Darwin Wealth Management LLC purchased a new stake in Marathon Petroleum in the 3rd quarter valued at about $33,000. 76.77% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the stock. Piper Sandler dropped their price target 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. Mizuho cut their target price on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Scotiabank lowered their price target on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Citigroup cut their price objective on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Finally, Wells Fargo & Company dropped their target price on Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and an average price target of $181.20.
Marathon Petroleum Stock Up 0.7 %
Shares of Marathon Petroleum stock opened at $152.83 on Friday. Marathon Petroleum Co. has a 52-week low of $130.54 and a 52-week high of $221.11. The company has a 50 day moving average of $147.78 and a 200 day moving average of $159.47. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $49.12 billion, a P/E ratio of 12.11, a P/E/G ratio of 2.51 and a beta of 1.42.
Marathon Petroleum (NYSE:MPC – Get Free Report) last posted its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, beating the consensus estimate of $0.97 by $0.90. The firm had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. Marathon Petroleum’s revenue for the quarter was down 14.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.14 earnings per share. As a group, research analysts forecast that Marathon Petroleum Co. will post 9.38 EPS for the current fiscal year.
Marathon Petroleum Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th were paid a dividend of $0.91 per share. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, November 20th. This represents a $3.64 annualized dividend and a yield of 2.38%. Marathon Petroleum’s payout ratio is presently 28.84%.
Marathon Petroleum announced that its Board of Directors has initiated a share repurchase plan on Tuesday, November 5th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the oil and gas company to repurchase up to 10% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
Insider Buying and Selling at Marathon Petroleum
In related news, Director Jeffrey C. Campbell purchased 6,000 shares of Marathon Petroleum stock in a transaction that occurred on Wednesday, December 4th. The stock was purchased at an average cost of $149.61 per share, with a total value of $897,660.00. Following the completion of the transaction, the director now directly owns 6,090 shares in the company, valued at approximately $911,124.90. The trade was a 6,666.67 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.21% of the stock is currently owned by insiders.
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.
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