Marathon Petroleum Co. (NYSE:MPC) Shares Acquired by Wealthspire Advisors LLC

Wealthspire Advisors LLC grew its stake in Marathon Petroleum Co. (NYSE:MPC) by 8.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,270 shares of the oil and gas company’s stock after purchasing an additional 702 shares during the period. Wealthspire Advisors LLC’s holdings in Marathon Petroleum were worth $1,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Marathon Petroleum in the fourth quarter valued at approximately $25,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Marathon Petroleum in the fourth quarter valued at approximately $32,000. Bare Financial Services Inc purchased a new stake in shares of Marathon Petroleum in the fourth quarter valued at approximately $32,000. Pittenger & Anderson Inc. purchased a new stake in shares of Marathon Petroleum in the fourth quarter valued at approximately $36,000. Finally, Tennessee Valley Asset Management Partners purchased a new stake in shares of Marathon Petroleum in the fourth quarter valued at approximately $40,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 1,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $170.35, for a total value of $170,350.00. Following the completion of the transaction, the director now directly owns 23,446 shares of the company’s stock, valued at approximately $3,994,026.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.21% of the stock is owned by corporate insiders.

Marathon Petroleum Price Performance

Shares of Marathon Petroleum stock traded up $2.00 during trading on Thursday, hitting $182.93. 1,281,029 shares of the company were exchanged, compared to its average volume of 2,736,856. The company has a quick ratio of 0.99, a current ratio of 1.43 and a debt-to-equity ratio of 0.85. Marathon Petroleum Co. has a fifty-two week low of $104.32 and a fifty-two week high of $221.11. The stock has a market capitalization of $64.45 billion, a price-to-earnings ratio of 9.14, a P/E/G ratio of 1.52 and a beta of 1.55. The firm has a 50 day moving average price of $194.86 and a 200 day moving average price of $168.81.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.25. The firm had revenue of $32.71 billion during the quarter, compared to the consensus estimate of $32.07 billion. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.09 EPS. On average, equities analysts expect that Marathon Petroleum Co. will post 19.96 earnings per share for the current fiscal year.

Marathon Petroleum declared that its board has approved a stock repurchase program on Tuesday, April 30th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the oil and gas company to reacquire up to 7.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be given a dividend of $0.825 per share. The ex-dividend date is Wednesday, May 15th. This represents a $3.30 dividend on an annualized basis and a yield of 1.80%. Marathon Petroleum’s dividend payout ratio (DPR) is 16.48%.

Analyst Ratings Changes

Several research analysts recently weighed in on MPC shares. Citigroup started coverage on Marathon Petroleum in a research report on Wednesday, January 24th. They issued a “neutral” rating for the company. Piper Sandler increased their price objective on Marathon Petroleum from $159.00 to $204.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Wells Fargo & Company raised their price target on Marathon Petroleum from $214.00 to $227.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. TD Cowen raised their price target on Marathon Petroleum from $168.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Finally, Barclays cut their target price on Marathon Petroleum from $221.00 to $195.00 and set an “overweight” rating on the stock in a research report on Monday. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $191.62.

Marathon Petroleum 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.