Allegiance Financial Group Advisory Services LLC Buys 699 Shares of Marathon Petroleum Co. (NYSE:MPC)

Allegiance Financial Group Advisory Services LLC lifted its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 19.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,302 shares of the oil and gas company’s stock after purchasing an additional 699 shares during the quarter. Allegiance Financial Group Advisory Services LLC’s holdings in Marathon Petroleum were worth $600,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MPC. Gladius Capital Management LP acquired a new position in Marathon Petroleum in the 3rd quarter valued at approximately $26,000. MeadowBrook Investment Advisors LLC increased its position 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 acquiring an additional 80 shares during the period. True Wealth Design LLC increased its position in 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 acquiring an additional 148 shares during the period. Harbor Capital Advisors Inc. acquired a new position in Marathon Petroleum in the 3rd quarter valued at approximately $30,000. Finally, Darwin Wealth Management LLC acquired a new position in Marathon Petroleum in the 3rd quarter valued at approximately $33,000. 76.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on MPC shares. Wells Fargo & Company upped their price target on shares of Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Mizuho decreased 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. Raymond James increased their price objective on shares of Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 17th. TD Cowen reiterated a “buy” rating and set a $170.00 price objective on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Finally, Barclays decreased their price objective on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. One research 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. According to data from MarketBeat.com, Marathon Petroleum has an average rating of “Moderate Buy” and a consensus price target of $181.27.

Marathon Petroleum Stock Down 2.9 %

Marathon Petroleum stock opened at $146.23 on Thursday. Marathon Petroleum Co. has a 1-year low of $130.54 and a 1-year high of $221.11. The firm has a market capitalization of $47.00 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 3.11 and a beta of 1.41. The firm’s fifty day moving average price is $147.49 and its two-hundred day moving average price is $156.00. 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 (NYSE:MPC) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.71. The firm had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period last year, the firm earned $3.98 earnings per share. On average, equities research analysts predict that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

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 issued a $0.91 dividend. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 annualized dividend and a dividend yield of 2.49%. Marathon Petroleum’s dividend payout ratio is currently 36.66%.

Marathon Petroleum announced that its Board of Directors has approved a stock buyback 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 buy up to 10% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, Director Jeffrey C. Campbell bought 6,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was bought at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the acquisition, the director now directly owns 6,090 shares in the company, valued at approximately $911,124.90. This trade represents a 6,666.67 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

Marathon Petroleum 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.