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

Avidian Wealth Enterprises LLC raised its stake in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 31.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,671 shares of the oil and gas company's stock after buying an additional 3,243 shares during the quarter. Avidian Wealth Enterprises LLC's holdings in Marathon Petroleum were worth $1,907,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position 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 valued at $911,274,000 after acquiring an additional 4,328,470 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of 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 buying an additional 647,045 shares during the period. Bank of Montreal Can increased its stake in shares of Marathon Petroleum by 45.4% during 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 increased its stake in shares of Marathon Petroleum by 19,153.8% during 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. Finally, National Pension Service grew its stake in shares of Marathon Petroleum by 3.1% in the third quarter. National Pension Service now owns 977,250 shares of the oil and gas company's stock worth $159,204,000 after acquiring an additional 29,008 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company's stock.

Remove Ads

Insider Buying and Selling

In other news, Director Jeffrey C. Campbell purchased 6,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was bought at an average price of $149.61 per share, with a total value of $897,660.00. Following the transaction, the director now owns 6,090 shares in the company, valued at $911,124.90. The trade was a 6,666.67 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.21% of the stock is owned by company insiders.

Marathon Petroleum Stock Up 1.3 %

MPC stock traded up $2.02 on Friday, hitting $156.11. 2,411,845 shares of the company's stock were exchanged, compared to its average volume of 2,781,544. Marathon Petroleum Co. has a 12-month low of $130.54 and a 12-month high of $221.11. The firm has a 50 day moving average price of $146.00 and a two-hundred day moving average price of $157.08. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The stock has a market cap of $50.17 billion, a P/E ratio of 15.72, a price-to-earnings-growth ratio of 2.91 and a beta of 1.41.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share 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 the consensus estimate of $31.94 billion. During the same period in the previous year, the business earned $3.98 EPS. The firm's revenue for the quarter was down 9.1% on a year-over-year basis. As a group, equities research analysts expect that Marathon Petroleum Co. will post 8.7 EPS for the current fiscal year.

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

Marathon Petroleum Dividend Announcement

The firm 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 dividend of $0.91 per share. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 annualized dividend and a yield of 2.33%. Marathon Petroleum's dividend payout ratio (DPR) is 36.66%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MPC shares. Wells Fargo & Company raised their price objective on Marathon Petroleum from $182.00 to $183.00 and gave the company an "overweight" rating in a research note on Wednesday, February 5th. Raymond James raised their price target on Marathon Petroleum from $190.00 to $192.00 and gave the stock a "strong-buy" rating in a research note on Friday, January 17th. Tudor Pickering raised Marathon Petroleum from a "strong sell" rating to a "hold" rating in a research note on Tuesday, February 4th. TD Cowen reaffirmed a "buy" rating and set a $170.00 target price on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Finally, Barclays decreased their target price on Marathon Petroleum from $168.00 to $159.00 and set an "overweight" rating for the company in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $181.27.

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.