Wealthspire Advisors LLC Has $968,000 Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Wealthspire Advisors LLC lifted its holdings in Marathon Petroleum Co. (NYSE:MPC) by 5.2% during the 4th quarter, Holdings Channel reports. The fund owned 6,938 shares of the oil and gas company’s stock after acquiring an additional 344 shares during the quarter. Wealthspire Advisors LLC’s holdings in Marathon Petroleum were worth $968,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Gladius Capital Management LP acquired a new position in shares of Marathon Petroleum in the 3rd quarter worth approximately $26,000. MeadowBrook Investment Advisors LLC raised its position 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 purchasing an additional 80 shares during the last quarter. True Wealth Design LLC raised its position 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 purchasing an additional 148 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in Marathon Petroleum in the 3rd quarter worth approximately $30,000. Finally, Darwin Wealth Management LLC bought a new position in Marathon Petroleum in the 3rd quarter worth approximately $33,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $150.60 on Wednesday. The stock has a market capitalization of $48.40 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 3.11 and a beta of 1.41. The business has a 50-day moving average of $147.27 and a 200-day moving average of $156.07. 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 fifty-two week low of $130.54 and a fifty-two week high of $221.11.

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. The company had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. Marathon Petroleum’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.98 EPS. As a group, sell-side analysts predict that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be paid a $0.91 dividend. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 annualized dividend and a yield of 2.42%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 36.66%.

Marathon Petroleum announced that its Board of Directors has initiated a stock buyback program 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 repurchase up to 10% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms recently weighed in on MPC. Mizuho dropped 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 report on Monday, December 16th. TD Cowen reiterated a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Barclays dropped their target price on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company upped their target price on shares of Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, seven 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $181.27.

Insider Activity at Marathon Petroleum

In other news, Director Jeffrey C. Campbell bought 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was acquired at an average cost of $149.61 per share, for a total transaction of $897,660.00. Following the purchase, the director now owns 6,090 shares of the company’s stock, valued at approximately $911,124.90. This trade represents a 6,666.67 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.21% of the stock is currently owned by company insiders.

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.