Smith Salley Wealth Management Decreases Holdings in Marathon Petroleum Co. (NYSE:MPC)

Smith Salley Wealth Management trimmed its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 3.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,464 shares of the oil and gas company’s stock after selling 95 shares during the quarter. Smith Salley Wealth Management’s holdings in Marathon Petroleum were worth $344,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Gladius Capital Management LP purchased a new position in shares of Marathon Petroleum during the 3rd quarter valued at about $26,000. MeadowBrook Investment Advisors LLC grew its position in Marathon Petroleum by 88.9% during the 3rd 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 grew its position in Marathon Petroleum by 672.7% during the 3rd 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 position in Marathon Petroleum during the 3rd quarter worth approximately $30,000. Finally, Darwin Wealth Management LLC bought a new position in Marathon Petroleum during the 3rd quarter worth approximately $33,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marathon Petroleum

In related news, Director Jeffrey C. Campbell acquired 6,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was acquired at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the purchase, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is owned by company insiders.

Marathon Petroleum Trading Up 0.7 %

MPC opened at $152.83 on Monday. The stock has a market cap of $49.12 billion, a PE ratio of 12.11, a PEG ratio of 2.51 and a beta of 1.42. 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 business has a 50 day moving average of $147.76 and a 200-day moving average of $159.21. Marathon Petroleum Co. has a 52 week low of $130.54 and a 52 week high of $221.11.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, beating 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%. The firm’s quarterly revenue was down 14.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.14 earnings per share. Equities research analysts predict that Marathon Petroleum Co. will post 9.38 earnings per share for the current fiscal year.

Marathon Petroleum declared that its Board of Directors has initiated a share buyback plan on Tuesday, November 5th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders 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 dividend on an annualized basis and a yield of 2.38%. Marathon Petroleum’s payout ratio is presently 28.84%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Raymond James raised their price target on Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a research report on Friday. Wells Fargo & Company reduced their price target on Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Barclays cut their price objective on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Citigroup cut their price objective on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. cut their price objective on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $181.20.

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.