MONECO Advisors LLC Takes Position in Marathon Petroleum Co. (NYSE:MPC)

MONECO Advisors LLC acquired a new position in Marathon Petroleum Co. (NYSE:MPC) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,366 shares of the oil and gas company’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Mission Wealth Management LP raised its position in shares of Marathon Petroleum by 0.8% during the 4th quarter. Mission Wealth Management LP now owns 8,756 shares of the oil and gas company’s stock valued at $1,299,000 after acquiring an additional 67 shares in the last quarter. WealthTrust Axiom LLC lifted its position in Marathon Petroleum by 18.4% in the 4th quarter. WealthTrust Axiom LLC now owns 2,944 shares of the oil and gas company’s stock valued at $437,000 after purchasing an additional 457 shares during the last quarter. Islay Capital Management LLC increased its stake in shares of Marathon Petroleum by 5.3% in the fourth quarter. Islay Capital Management LLC now owns 8,855 shares of the oil and gas company’s stock valued at $1,314,000 after purchasing an additional 442 shares during the period. Field & Main Bank raised its holdings in shares of Marathon Petroleum by 5.9% during the fourth quarter. Field & Main Bank now owns 2,690 shares of the oil and gas company’s stock valued at $399,000 after buying an additional 150 shares during the last quarter. Finally, Kestra Private Wealth Services LLC boosted its position in shares of Marathon Petroleum by 3.6% during the fourth quarter. Kestra Private Wealth Services LLC now owns 21,528 shares of the oil and gas company’s stock worth $3,194,000 after buying an additional 744 shares during the period. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 1,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $170.35, for a total transaction of $170,350.00. Following the completion of the transaction, the director now owns 23,446 shares of the company’s stock, valued at $3,994,026.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MPC has been the subject of a number of research reports. Scotiabank raised their price objective on Marathon Petroleum from $175.00 to $207.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Citigroup started coverage on shares of Marathon Petroleum in a report on Wednesday, January 24th. They set a “neutral” rating on the stock. The Goldman Sachs Group upped their target price on Marathon Petroleum from $175.00 to $211.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Piper Sandler lifted their target price on shares of Marathon Petroleum from $159.00 to $204.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Finally, Mizuho decreased their price objective on shares of Marathon Petroleum from $202.00 to $200.00 and set a “neutral” rating for the company in a report on Thursday. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average target price of $193.62.

Marathon Petroleum Price Performance

Shares of MPC stock opened at $182.95 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.13 and a debt-to-equity ratio of 0.85. The firm’s 50 day moving average is $193.92 and its 200-day moving average is $167.87. Marathon Petroleum Co. has a 1 year low of $104.32 and a 1 year high of $221.11. The firm has a market capitalization of $64.46 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 1.46 and a beta of 1.55.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.25. The business had revenue of $32.71 billion for the quarter, compared to analysts’ expectations of $32.07 billion. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The firm’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the business earned $6.09 earnings per share. Sell-side analysts forecast that Marathon Petroleum Co. will post 20.49 EPS for the current fiscal year.

Marathon Petroleum declared that its Board of Directors has initiated a share repurchase program on Tuesday, April 30th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the oil and gas company to reacquire up to 7.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be issued a dividend of $0.825 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $3.30 annualized dividend and a yield of 1.80%. Marathon Petroleum’s payout ratio is presently 16.48%.

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.