Executive Wealth Management LLC Has $300,000 Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Executive Wealth Management LLC grew its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 16.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,840 shares of the oil and gas company’s stock after purchasing an additional 259 shares during the quarter. Executive Wealth Management LLC’s holdings in Marathon Petroleum were worth $300,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MPC. Wellington Management Group LLP lifted its stake in shares of Marathon Petroleum by 342.1% in the third quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock worth $911,274,000 after acquiring an additional 4,328,470 shares during the period. International Assets Investment Management LLC lifted its stake in Marathon Petroleum by 19,153.8% in the third quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company’s stock valued at $213,605,000 after buying an additional 1,304,372 shares during the period. ING Groep NV acquired a new position in Marathon Petroleum in the third quarter valued at approximately $114,107,000. Assenagon Asset Management S.A. lifted its stake in Marathon Petroleum by 980.3% in the second quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company’s stock valued at $118,785,000 after buying an additional 621,336 shares during the period. Finally, National Bank of Canada FI lifted its stake in Marathon Petroleum by 212.9% in the third quarter. National Bank of Canada FI now owns 846,756 shares of the oil and gas company’s stock valued at $137,945,000 after buying an additional 576,119 shares during the period. 76.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Piper Sandler dropped their price target on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Citigroup decreased their price objective on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. BMO Capital Markets decreased their price objective on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, October 4th. JPMorgan Chase & Co. decreased their price target on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, Tudor Pickering downgraded Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 9th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $185.27.

Marathon Petroleum Stock Down 1.3 %

Shares of NYSE MPC opened at $151.06 on Wednesday. Marathon Petroleum Co. has a one year low of $141.45 and a one year high of $221.11. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The business’s fifty day moving average price is $156.76 and its 200-day moving average price is $165.70. The stock has a market capitalization of $48.55 billion, a PE ratio of 11.97, a P/E/G ratio of 2.65 and a beta of 1.40.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results 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 firm had revenue of $35.37 billion for the quarter, compared to analysts’ expectations of $34.34 billion. During the same quarter in the prior year, the firm earned $8.14 EPS. The business’s revenue for the quarter was down 14.9% compared to the same quarter last year. On average, equities research analysts anticipate that Marathon Petroleum Co. will post 9.5 EPS for the current year.

Marathon Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th were issued a dividend of $0.91 per share. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. 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 2.41%. Marathon Petroleum’s dividend payout ratio is 28.84%.

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

Insider Buying and Selling

In other Marathon Petroleum news, Director Jeffrey C. Campbell bought 6,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were acquired at an average cost of $149.61 per share, for a total transaction of $897,660.00. Following the purchase, the director now directly owns 6,090 shares of the company’s stock, valued at $911,124.90. The trade was a 6,666.67 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.