GoalVest Advisory LLC Boosts Stake in Marathon Petroleum Co. (NYSE:MPC)

GoalVest Advisory LLC boosted its stake in Marathon Petroleum Co. (NYSE:MPC) by 15.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,352 shares of the oil and gas company’s stock after purchasing an additional 180 shares during the period. GoalVest Advisory LLC’s holdings in Marathon Petroleum were worth $189,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in MPC. Gladius Capital Management LP purchased a new stake in shares of Marathon Petroleum in the 3rd quarter valued at $26,000. MeadowBrook Investment Advisors LLC grew its position in Marathon Petroleum by 88.9% in the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 80 shares in the last quarter. True Wealth Design LLC increased 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 period. Harbor Capital Advisors Inc. purchased a new position in shares of Marathon Petroleum in the third quarter valued at approximately $30,000. Finally, Darwin Wealth Management LLC acquired a new position in shares of Marathon Petroleum in the third quarter valued at approximately $33,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Stock Down 2.2 %

Marathon Petroleum stock opened at $147.51 on Thursday. The stock’s 50 day moving average price is $147.61 and its 200 day moving average price is $158.80. The company has a market cap of $47.41 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 2.94 and a beta of 1.42. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. Marathon Petroleum Co. has a 1-year low of $130.54 and a 1-year high of $221.11.

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

Marathon Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend was Wednesday, November 20th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio is 28.84%.

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

Analyst Upgrades and Downgrades

Several brokerages have commented on MPC. JPMorgan Chase & Co. decreased their price target on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Bank of America assumed coverage on Marathon Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 target price for the company. 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. Barclays decreased their price objective 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. Finally, Wells Fargo & Company dropped their price objective on shares of Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus target price of $181.20.

Insiders Place Their Bets

In other news, Director Jeffrey C. Campbell purchased 6,000 shares of the stock in a transaction dated 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 acquisition, the director now directly owns 6,090 shares in the company, valued at $911,124.90. This represents a 6,666.67 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is currently owned by company insiders.

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.