Gilliland Jeter Wealth Management LLC Has $3.59 Million Stake in Marathon Petroleum Co. (NYSE:MPC)

Gilliland Jeter Wealth Management LLC lifted its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 0.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,709 shares of the oil and gas company’s stock after acquiring an additional 240 shares during the quarter. Marathon Petroleum makes up approximately 1.2% of Gilliland Jeter Wealth Management LLC’s portfolio, making the stock its 21st biggest position. Gilliland Jeter Wealth Management LLC’s holdings in Marathon Petroleum were worth $3,586,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MPC. Gladius Capital Management LP bought a new position in Marathon Petroleum during the 3rd quarter worth $26,000. MeadowBrook Investment Advisors LLC lifted its holdings 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 buying an additional 80 shares during the period. True Wealth Design LLC lifted its holdings 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 buying an additional 148 shares during the period. Harbor Capital Advisors Inc. acquired a new position in Marathon Petroleum during the 3rd quarter worth about $30,000. Finally, Darwin Wealth Management LLC acquired a new position in Marathon Petroleum during the 3rd quarter worth about $33,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $151.74 on Friday. The stock has a fifty day simple moving average of $146.10 and a two-hundred day simple moving average of $157.78. Marathon Petroleum Co. has a 1-year low of $130.54 and a 1-year high of $221.11. The firm has a market cap of $48.77 billion, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 2.77 and a beta of 1.41. 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 announced its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.71. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The business had revenue of $33.47 billion during the quarter, compared to analyst estimates of $31.94 billion. During the same period in the prior year, the company earned $3.98 earnings per share. Marathon Petroleum’s revenue was down 9.1% compared to the same quarter last year. Analysts anticipate that Marathon Petroleum Co. will post 8.88 earnings per share for the current year.

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

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th will be given a dividend of $0.91 per share. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 annualized dividend and a dividend yield of 2.40%. Marathon Petroleum’s dividend payout ratio is currently 28.84%.

Insiders Place Their Bets

In other Marathon Petroleum news, Director Jeffrey C. Campbell acquired 6,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were bought 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 owns 6,090 shares of the company’s stock, valued at approximately $911,124.90. This represents a 6,666.67 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Tudor Pickering raised Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday. Raymond James boosted their price objective on Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a research note on Friday, January 17th. Wells Fargo & Company boosted their price objective on Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a research note on Wednesday. Mizuho dropped their price objective on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Finally, Citigroup dropped their price target on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.27.

Marathon Petroleum Company 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.