Founders Grove Wealth Partners LLC Purchases New Position in Marathon Petroleum Co. (NYSE:MPC)

Founders Grove Wealth Partners LLC acquired a new stake in Marathon Petroleum Co. (NYSE:MPC - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 5,692 shares of the oil and gas company's stock, valued at approximately $794,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Gladius Capital Management LP acquired a new stake in Marathon Petroleum during the 3rd quarter worth $26,000. MeadowBrook Investment Advisors LLC grew 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 worth $28,000 after purchasing an additional 80 shares during the period. True Wealth Design LLC increased its holdings in Marathon Petroleum by 672.7% in the third quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company's stock valued at $28,000 after purchasing an additional 148 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in Marathon Petroleum in the third quarter valued at about $30,000. Finally, Darwin Wealth Management LLC bought a new position in Marathon Petroleum during the third quarter worth about $33,000. Institutional investors own 76.77% of the company's stock.

Insider Activity

In other Marathon Petroleum news, Director Jeffrey C. Campbell purchased 6,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were purchased at an average price of $149.61 per share, with a total value of $897,660.00. Following the completion of the transaction, 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.21% of the stock is owned by insiders.

Analyst Ratings Changes

MPC has been the topic of several recent analyst reports. BMO Capital Markets reduced their price objective on shares of Marathon Petroleum from $200.00 to $190.00 and set an "outperform" rating on the stock in a research note on Friday, October 4th. Citigroup reduced their price target on shares of Marathon Petroleum from $172.00 to $167.00 and set a "neutral" rating on the stock in a research report on Thursday, October 10th. Scotiabank lowered their price objective on shares of Marathon Petroleum from $191.00 to $170.00 and set a "sector outperform" rating for the company in a research report on Thursday, October 10th. JPMorgan Chase & Co. reduced their target price on Marathon Petroleum from $172.00 to $171.00 and set a "neutral" rating on the stock in a report on Wednesday, October 9th. Finally, Wells Fargo & Company dropped their price target on 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 analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Marathon Petroleum presently has a consensus rating of "Moderate Buy" and a consensus price target of $183.73.

Marathon Petroleum Stock Up 1.8 %

MPC traded up $2.63 on Wednesday, hitting $152.05. 2,455,663 shares of the company were exchanged, compared to its average volume of 2,985,040. The stock's fifty day moving average is $147.88 and its 200-day moving average is $159.57. Marathon Petroleum Co. has a 12 month low of $130.54 and a 12 month high of $221.11. 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 company has a market cap of $48.87 billion, a PE ratio of 12.05, a PEG ratio of 2.56 and a beta of 1.42.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.90. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The company had revenue of $35.37 billion for the quarter, compared to analysts' expectations of $34.34 billion. During the same quarter in the prior year, the business posted $8.14 EPS. The business's revenue was down 14.9% compared to the same quarter last year. Equities research analysts predict that Marathon Petroleum Co. will post 9.47 EPS for the current fiscal year.

Marathon Petroleum announced that its board has authorized a share repurchase plan on Tuesday, November 5th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to buy up to 10% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th were given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Wednesday, November 20th. This is an increase from Marathon Petroleum's previous quarterly dividend of $0.83. Marathon Petroleum's dividend payout ratio (DPR) is 28.84%.

Marathon Petroleum 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.