Wilmington Savings Fund Society FSB Raises Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Wilmington Savings Fund Society FSB increased its position in Marathon Petroleum Co. (NYSE:MPC) by 747.3% during the third quarter, HoldingsChannel.com reports. The fund owned 21,275 shares of the oil and gas company’s stock after acquiring an additional 18,764 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Marathon Petroleum were worth $3,466,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell purchased 6,000 shares of Marathon Petroleum stock in a transaction that occurred on Wednesday, December 4th. The stock was purchased at an average price of $149.61 per share, with a total value of $897,660.00. Following the completion of the acquisition, 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

Marathon Petroleum Stock Down 0.5 %

Shares of Marathon Petroleum stock opened at $145.56 on Friday. The company has a fifty day moving average price of $155.10 and a 200 day moving average price of $165.06. 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 Co. has a twelve month low of $142.84 and a twelve month high of $221.11. The stock has a market cap of $46.78 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 2.67 and a beta of 1.39.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, beating the consensus estimate of $0.97 by $0.90. The business had revenue of $35.37 billion for the quarter, compared to the consensus estimate of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The company’s revenue was down 14.9% on a year-over-year basis. During the same period last year, the business posted $8.14 EPS. Equities research analysts forecast that Marathon Petroleum Co. will post 9.5 earnings per share for the current fiscal year.

Marathon Petroleum announced that its board has authorized a share repurchase 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 buy up to 10% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were issued a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a yield of 2.50%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s payout ratio is currently 28.84%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Piper Sandler reduced their target price on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. Morgan Stanley reduced their price objective on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Citigroup lowered their target price on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Tudor, Pickering, Holt & Co. lowered Marathon Petroleum from a “buy” rating to a “sell” rating in a research note on Monday, September 9th. Finally, JPMorgan Chase & Co. lowered their price objective on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned 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 a consensus target price of $185.27.

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.