Marathon Petroleum Co. (NYSE:MPC) Stake Raised by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC grew its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,551 shares of the oil and gas company’s stock after purchasing an additional 131 shares during the period. Princeton Global Asset Management LLC’s holdings in Marathon Petroleum were worth $3,425,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in MPC. Avantra Family Wealth Inc. bought a new stake in Marathon Petroleum during the fourth quarter worth approximately $1,189,000. Spire Wealth Management lifted its position in shares of Marathon Petroleum by 103.6% during the 4th quarter. Spire Wealth Management now owns 2,455 shares of the oil and gas company’s stock valued at $342,000 after acquiring an additional 1,249 shares during the last quarter. Journey Strategic Wealth LLC boosted its stake in shares of Marathon Petroleum by 192.5% during the 4th quarter. Journey Strategic Wealth LLC now owns 4,186 shares of the oil and gas company’s stock worth $584,000 after acquiring an additional 2,755 shares in the last quarter. SYM FINANCIAL Corp acquired a new stake in shares of Marathon Petroleum during the fourth quarter worth $228,000. Finally, Comprehensive Financial Consultants Institutional Inc. lifted its holdings in shares of Marathon Petroleum by 3.5% during the fourth quarter. Comprehensive Financial Consultants Institutional Inc. now owns 27,902 shares of the oil and gas company’s stock valued at $3,892,000 after purchasing an additional 942 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell bought 6,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were purchased at an average price of $149.61 per share, with a total value of $897,660.00. Following the acquisition, the director now directly owns 6,090 shares of the company’s stock, valued at $911,124.90. This represents a 6,666.67 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Bank of America assumed coverage on Marathon Petroleum in a report on Thursday, October 17th. They set a “neutral” rating and a $174.00 price objective on the stock. TD Cowen restated a “buy” rating and issued a $170.00 price target on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Barclays lowered their price objective on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Citigroup reduced their target price on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Finally, Raymond James lifted their price target on Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.20.

Marathon Petroleum Stock Down 3.1 %

MPC stock opened at $145.37 on Monday. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The firm has a market cap of $46.72 billion, a PE ratio of 11.52, a PEG ratio of 2.77 and a beta of 1.41. Marathon Petroleum Co. has a 1 year low of $130.54 and a 1 year high of $221.11. The company has a fifty day simple moving average of $146.26 and a 200 day simple moving average of $158.02.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.90. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The business had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. During the same quarter in the prior year, the firm posted $8.14 EPS. The firm’s revenue for the quarter was down 14.9% on a year-over-year basis. Sell-side analysts anticipate that Marathon Petroleum Co. will post 8.88 EPS for the current fiscal year.

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

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Wednesday, February 19th. Marathon Petroleum’s payout ratio is 28.84%.

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.