Kestra Investment Management LLC Boosts Stake in Marathon Petroleum Co. (NYSE:MPC)

Kestra Investment Management LLC raised its stake in Marathon Petroleum Co. (NYSE:MPC) by 111.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,827 shares of the oil and gas company’s stock after acquiring an additional 1,491 shares during the quarter. Kestra Investment Management LLC’s holdings in Marathon Petroleum were worth $394,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Gladius Capital Management LP purchased a new position in Marathon Petroleum in the 3rd quarter valued at about $26,000. MeadowBrook Investment Advisors LLC lifted its stake in shares of Marathon Petroleum by 88.9% during the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 80 shares during the period. True Wealth Design LLC boosted its position 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 acquiring an additional 148 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Marathon Petroleum in the 3rd quarter worth approximately $30,000. Finally, Darwin Wealth Management LLC acquired a new position in Marathon Petroleum in the 3rd quarter valued at $33,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Trading Down 1.4 %

Shares of MPC opened at $156.79 on Thursday. Marathon Petroleum Co. has a 12 month low of $130.54 and a 12 month high of $221.11. The stock’s 50-day moving average is $146.32 and its two-hundred day moving average is $156.63. 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 stock has a market cap of $50.39 billion, a PE ratio of 15.79, a P/E/G ratio of 3.07 and a beta of 1.41.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.06 by $0.71. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The firm had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. During the same period in the previous year, the company posted $3.98 EPS. Marathon Petroleum’s revenue for the quarter was down 9.1% on a year-over-year basis. Equities analysts forecast that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

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 dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Wednesday, February 19th. Marathon Petroleum’s payout ratio is 36.66%.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Mizuho decreased 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. Tudor Pickering raised shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Raymond James raised their target price on shares of Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 17th. Barclays cut their price target on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Finally, TD Cowen reissued a “buy” rating and set a $170.00 price objective on shares of Marathon Petroleum in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $181.27.

Insider Buying and Selling

In other Marathon Petroleum news, Director Jeffrey C. Campbell acquired 6,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was purchased at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the purchase, the director now directly owns 6,090 shares in the company, valued at $911,124.90. This trade represents a 6,666.67 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is currently owned by 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.