Marathon Petroleum Co. (NYSE:MPC) Shares Bought by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB grew its position in Marathon Petroleum Co. (NYSE:MPCFree Report) by 747.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,275 shares of the oil and gas company’s stock after acquiring an additional 18,764 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Marathon Petroleum were worth $3,466,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MPC. World Investment Advisors LLC grew its holdings in shares of Marathon Petroleum by 4,227.5% in the third quarter. World Investment Advisors LLC now owns 69,759 shares of the oil and gas company’s stock valued at $11,364,000 after purchasing an additional 68,147 shares during the period. Stock Yards Bank & Trust Co. increased its position in shares of Marathon Petroleum by 1.0% during the 3rd quarter. Stock Yards Bank & Trust Co. now owns 12,038 shares of the oil and gas company’s stock worth $1,961,000 after purchasing an additional 116 shares during the last quarter. Tudor Financial Inc. purchased a new stake in Marathon Petroleum in the 3rd quarter valued at about $823,000. Virtu Financial LLC increased its position in shares of Marathon Petroleum by 13.3% during the third quarter. Virtu Financial LLC now owns 4,373 shares of the oil and gas company’s stock valued at $712,000 after acquiring an additional 515 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its stake in shares of Marathon Petroleum by 7.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 5,673 shares of the oil and gas company’s stock valued at $924,000 after acquiring an additional 375 shares during the period. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MPC. Piper Sandler lowered their price target on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Bank of America began coverage on shares of Marathon Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $174.00 price objective for the company. Barclays dropped their target price on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Tudor, Pickering, Holt & Co. cut Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. Finally, Scotiabank dropped their price objective on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $185.27.

Read Our Latest Report on Marathon Petroleum

Marathon Petroleum Stock Down 0.5 %

MPC stock opened at $145.56 on Friday. The company has a market cap of $46.78 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 2.67 and a beta of 1.39. The company has a fifty day moving average price of $155.10 and a 200 day moving average price of $165.06. 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 12 month low of $142.84 and a 12 month high of $221.11.

Marathon Petroleum (NYSE:MPCGet Free Report) last announced its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.90. The business had revenue of $35.37 billion during the quarter, compared to the consensus estimate of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The business’s quarterly revenue was down 14.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.14 earnings per share. Sell-side analysts expect that Marathon Petroleum Co. will post 9.5 earnings per share for the current year.

Marathon Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th were issued a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.50%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s payout ratio is presently 28.84%.

Marathon Petroleum declared that its Board of Directors has authorized a share buyback program on Tuesday, November 5th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to buy up to 10% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Jeffrey C. Campbell acquired 6,000 shares of Marathon Petroleum stock in a transaction that occurred on Wednesday, December 4th. The stock was purchased at an average price of $149.61 per share, for a total transaction 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. This trade represents a 6,666.67 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.21% of the company’s stock.

Marathon Petroleum Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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