Parcion Private Wealth LLC Buys 1,082 Shares of Marathon Petroleum Co. (NYSE:MPC)

Parcion Private Wealth LLC grew its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 3.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,953 shares of the oil and gas company’s stock after acquiring an additional 1,082 shares during the quarter. Parcion Private Wealth LLC’s holdings in Marathon Petroleum were worth $4,318,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MPC. Gladius Capital Management LP bought a new position in shares of Marathon Petroleum during the third quarter valued at $26,000. MeadowBrook Investment Advisors LLC increased its holdings 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 worth $28,000 after buying an additional 80 shares in the last quarter. True Wealth Design LLC increased its holdings 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 worth $28,000 after buying an additional 148 shares in the last quarter. Asset Planning Inc bought a new stake in Marathon Petroleum in the 4th quarter worth about $28,000. Finally, Harbor Capital Advisors Inc. bought a new stake in Marathon Petroleum in the 3rd quarter worth about $30,000. 76.77% of the stock is currently owned by institutional investors.

Insider Transactions at Marathon Petroleum

In other news, Director Jeffrey C. Campbell purchased 6,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were acquired at an average price of $149.61 per share, with a total value of $897,660.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on MPC. Raymond James lifted their price objective on Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a report on Friday, January 17th. Wells Fargo & Company raised their target price on Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Tudor Pickering raised Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Mizuho dropped their target price on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Finally, Barclays lowered 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average price target of $181.27.

Marathon Petroleum Price Performance

MPC opened at $156.79 on Thursday. The business has a fifty day moving average of $146.32 and a 200 day moving average of $156.63. Marathon Petroleum Co. has a 52-week low of $130.54 and a 52-week high of $221.11. 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 stock has a market cap of $50.39 billion, a P/E ratio of 15.79, a PEG ratio of 3.13 and a beta of 1.41.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.71. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The company had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $31.94 billion. During the same quarter in the previous year, the business earned $3.98 EPS. Marathon Petroleum’s revenue was down 9.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum announced that its Board of Directors has authorized a share repurchase plan on Tuesday, November 5th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to buy up to 10% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Wednesday, February 19th. Marathon Petroleum’s payout ratio is 36.66%.

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.