By otakuyassine3@gmail.com 
Resonant Capital Advisors LLC boosted its stake in shares of Marathon Petroleum Co. (NYSE:MPC – Free Report) by 0.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,391 shares of the oil and gas company’s stock after purchasing an additional 118 shares during the period. Resonant Capital Advisors LLC’s holdings in Marathon Petroleum were worth $2,845,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its stake in Marathon Petroleum by 342.1% in the third quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock valued at $911,274,000 after acquiring an additional 4,328,470 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Marathon Petroleum by 22.3% in the fourth quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company’s stock valued at $495,595,000 after acquiring an additional 647,045 shares during the last quarter. Bank of Montreal Can lifted its stake in Marathon Petroleum by 45.4% in the third quarter. Bank of Montreal Can now owns 1,329,422 shares of the oil and gas company’s stock valued at $217,560,000 after acquiring an additional 415,368 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Marathon Petroleum by 19,153.8% in the third quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company’s stock valued at $213,605,000 after acquiring an additional 1,304,372 shares during the last quarter. Finally, National Pension Service lifted its stake in Marathon Petroleum by 3.1% in the third quarter. National Pension Service now owns 977,250 shares of the oil and gas company’s stock valued at $159,204,000 after acquiring an additional 29,008 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.
Marathon Petroleum Stock Performance
Marathon Petroleum stock opened at $145.37 on Monday. The company has a market cap of $46.72 billion, a PE ratio of 11.52, a PEG ratio of 2.77 and a beta of 1.41. The company’s 50-day moving average is $146.26 and its two-hundred day moving average is $157.96. 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 Co. has a 1 year low of $130.54 and a 1 year high of $221.11.
Marathon Petroleum (NYSE:MPC – Get Free Report) last posted its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.90. The business had revenue of $35.37 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the business earned $8.14 EPS. Equities analysts anticipate that Marathon Petroleum Co. will post 8.88 earnings per share for the current year.
Marathon Petroleum declared that its Board of Directors has approved a share buyback program 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 programs are usually a sign that the company’s board believes its shares are undervalued.
Marathon Petroleum Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.64 annualized dividend and a dividend yield of 2.50%. Marathon Petroleum’s dividend payout ratio is currently 28.84%.
Insider Transactions at Marathon Petroleum
In other news, Director Jeffrey C. Campbell bought 6,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was bought at an average price of $149.61 per share, with a total value of $897,660.00. Following the completion of 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 document filed with the SEC, which is accessible through this link. Company insiders own 0.21% of the company’s stock.
Analysts Set New Price Targets
MPC has been the subject of a number of analyst reports. Mizuho reduced 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 note on Monday, December 16th. Raymond James boosted 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 note on Friday, January 17th. TD Cowen reiterated a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Scotiabank cut their target price on shares of Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. cut their target price on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.20.
Get Our Latest Analysis on Marathon Petroleum
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.
Featured Stories
Receive News & Ratings for Marathon Petroleum Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Marathon Petroleum and related companies with MarketBeat.com’s FREE daily email newsletter.