Strategic Financial Concepts LLC Takes Position in Marathon Petroleum Co. (NYSE:MPC)

Strategic Financial Concepts LLC acquired a new stake in Marathon Petroleum Co. (NYSE:MPC) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 112,182 shares of the oil and gas company’s stock, valued at approximately $15,649,000.

Several other hedge funds also recently modified their holdings of MPC. Gladius Capital Management LP bought a new stake in shares of Marathon Petroleum in the third quarter valued at approximately $26,000. MeadowBrook Investment Advisors LLC raised its stake in shares of Marathon Petroleum by 88.9% in the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 80 shares in the last quarter. True Wealth Design LLC raised its stake 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 valued at $28,000 after purchasing an additional 148 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Marathon Petroleum in the third quarter valued at $30,000. Finally, Darwin Wealth Management LLC acquired a new position in shares of Marathon Petroleum in the third quarter valued at $33,000. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC opened at $150.13 on Friday. The business has a fifty day moving average of $146.03 and a 200-day moving average of $157.74. The firm has a market cap of $48.25 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 2.77 and a beta of 1.41. Marathon Petroleum Co. has a twelve month low of $130.54 and a twelve month high of $221.11. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.71. The business had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $31.94 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the business earned $3.98 earnings per share. On average, equities research analysts predict that Marathon Petroleum Co. will post 8.88 EPS for the current fiscal year.

Marathon Petroleum declared that its Board of Directors has initiated a share buyback program 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 stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio is 28.84%.

Insider Activity at Marathon Petroleum

In related news, Director Jeffrey C. Campbell bought 6,000 shares of Marathon Petroleum stock in a transaction on Wednesday, December 4th. The shares were purchased at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the acquisition, the director now owns 6,090 shares in the company, valued at approximately $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 is available at this hyperlink. 0.21% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MPC shares. Barclays cut their target price on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Mizuho dropped their price objective on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Wells Fargo & Company increased their price objective on Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, TD Cowen reiterated a “buy” rating and set a $170.00 price objective on shares of Marathon Petroleum in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus target price of $181.27.

Marathon Petroleum Company 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.