Marathon Petroleum Co. (NYSE:MPC) Shares Sold by MGB Wealth Management LLC

MGB Wealth Management LLC lowered its stake in Marathon Petroleum Co. (NYSE:MPC) by 21.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,315 shares of the oil and gas company’s stock after selling 4,830 shares during the period. Marathon Petroleum comprises 0.7% of MGB Wealth Management LLC’s investment portfolio, making the stock its 26th biggest position. MGB Wealth Management LLC’s holdings in Marathon Petroleum were worth $2,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Gladius Capital Management LP purchased a new stake in Marathon Petroleum during the 3rd quarter worth about $26,000. MeadowBrook Investment Advisors LLC raised its position in shares of Marathon Petroleum by 88.9% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 80 shares in the last quarter. True Wealth Design LLC lifted its stake in Marathon Petroleum by 672.7% during the third 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. purchased a new stake in Marathon Petroleum during the third quarter worth approximately $30,000. Finally, Darwin Wealth Management LLC acquired a new position in Marathon Petroleum in the third quarter valued at approximately $33,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

MPC has been the subject of several recent analyst reports. Bank of America began coverage on shares of Marathon Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $174.00 price objective for the company. Tudor Pickering raised shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. Wells Fargo & Company upped their price target on Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Barclays cut their price target on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Finally, Mizuho lowered their price objective on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average price target of $181.27.

Marathon Petroleum Trading Down 3.9 %

Shares of MPC stock opened at $149.26 on Thursday. Marathon Petroleum Co. has a twelve month low of $130.54 and a twelve month high of $221.11. The company has a market capitalization of $47.97 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 2.91 and a beta of 1.41. The firm has a 50-day moving average price of $145.84 and a 200 day moving average price of $157.27. 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 (NYSE:MPC) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. The company had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.98 EPS. Research analysts forecast that Marathon Petroleum Co. will post 8.7 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.44%. The ex-dividend date is Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio (DPR) is 36.66%.

Marathon Petroleum announced that its board has initiated a stock repurchase program on Tuesday, November 5th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to repurchase up to 10% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Marathon Petroleum news, Director Jeffrey C. Campbell bought 6,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were acquired at an average price of $149.61 per share, with a total value of $897,660.00. Following the purchase, the director now owns 6,090 shares in the company, valued at approximately $911,124.90. The trade was a 6,666.67 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is currently owned by insiders.

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.