Marathon Petroleum Co. (NYSE:MPC) Shares Purchased by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC grew its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 31.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 13,671 shares of the oil and gas company’s stock after buying an additional 3,243 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Marathon Petroleum were worth $1,907,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of MPC. Wellington Management Group LLP boosted its stake in shares of Marathon Petroleum by 342.1% during the 3rd quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock worth $911,274,000 after purchasing an additional 4,328,470 shares during the last quarter. Pacer Advisors Inc. grew its position in Marathon Petroleum by 22.3% during the fourth quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company’s stock valued at $495,595,000 after acquiring an additional 647,045 shares during the period. Bank of Montreal Can raised its holdings in Marathon Petroleum by 45.4% in the third quarter. Bank of Montreal Can now owns 1,329,422 shares of the oil and gas company’s stock valued at $217,560,000 after buying an additional 415,368 shares during the period. International Assets Investment Management LLC raised its stake in shares of Marathon Petroleum by 19,153.8% in the 3rd 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 acquiring an additional 1,304,372 shares during the period. Finally, National Pension Service lifted its stake in shares of Marathon Petroleum by 3.1% during the third quarter. National Pension Service now owns 977,250 shares of the oil and gas company’s stock worth $159,204,000 after purchasing an additional 29,008 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MPC shares. Raymond James lifted their price target on shares of Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 17th. Wells Fargo & Company lifted their price objective on shares of Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Mizuho cut their price target on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. TD Cowen reissued a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Finally, Barclays lowered their price target on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $181.27.

Marathon Petroleum Price Performance

Shares of MPC stock opened at $155.31 on Wednesday. The firm has a market capitalization of $49.91 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 2.91 and a beta of 1.41. Marathon Petroleum Co. has a 12-month low of $130.54 and a 12-month high of $221.11. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The firm has a fifty day moving average of $145.84 and a 200-day moving average of $157.39.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, beating 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 company’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.98 earnings per share. On average, equities research analysts forecast that Marathon Petroleum Co. will post 8.7 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be paid a $0.91 dividend. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 annualized dividend and a yield of 2.34%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 36.66%.

Marathon Petroleum announced that its board has authorized a share repurchase plan 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 repurchase up to 10% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Marathon Petroleum

In related news, Director Jeffrey C. Campbell purchased 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was acquired at an average cost of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the purchase, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is currently owned by corporate insiders.

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.