HB Wealth Management LLC Buys 1,872 Shares of Marathon Petroleum Co. (NYSE:MPC)

HB Wealth Management LLC lifted its stake in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 8.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,907 shares of the oil and gas company's stock after buying an additional 1,872 shares during the quarter. HB Wealth Management LLC's holdings in Marathon Petroleum were worth $3,189,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Assenagon Asset Management S.A. boosted its holdings in Marathon Petroleum by 1,204.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company's stock worth $75,757,000 after acquiring an additional 501,441 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in Marathon Petroleum by 27.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company's stock valued at $7,033,000 after purchasing an additional 9,355 shares during the period. Wilmington Savings Fund Society FSB raised its holdings in Marathon Petroleum by 747.3% during the third quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company's stock worth $3,466,000 after buying an additional 18,764 shares during the last quarter. Holistic Planning LLC acquired a new position in shares of Marathon Petroleum during the third quarter valued at about $912,000. Finally, World Investment Advisors LLC increased its position in shares of Marathon Petroleum by 4,227.5% during the third quarter. World Investment Advisors LLC now owns 69,759 shares of the oil and gas company's stock worth $11,364,000 after acquiring an additional 68,147 shares in the last quarter. Institutional investors own 76.77% of the company's stock.

Marathon Petroleum Price Performance

Shares of MPC traded up $1.13 during midday trading on Monday, hitting $152.83. 2,479,994 shares of the company traded hands, compared to its average volume of 2,802,449. Marathon Petroleum Co. has a one year low of $130.54 and a one year high of $221.11. The firm has a market cap of $49.12 billion, a P/E ratio of 12.11, a PEG ratio of 2.51 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. The stock has a 50-day moving average of $147.76 and a 200-day moving average of $159.10.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its 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. The business had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. Marathon Petroleum's revenue was down 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $8.14 EPS. As a group, sell-side analysts predict that Marathon Petroleum Co. will post 9.38 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were paid a $0.91 dividend. This is a positive change from Marathon Petroleum's previous quarterly dividend of $0.83. This represents a $3.64 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date was Wednesday, November 20th. Marathon Petroleum's dividend payout ratio is currently 28.84%.

Marathon Petroleum declared that its board has initiated a share repurchase 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 stock through open market purchases. Stock repurchase programs are often a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

MPC has been the subject of a number of recent research reports. Citigroup decreased their price objective on Marathon Petroleum from $172.00 to $167.00 and set a "neutral" rating for the company in a report on Thursday, October 10th. Scotiabank cut their price objective on shares of Marathon Petroleum from $191.00 to $170.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 10th. TD Cowen reissued a "buy" rating and set a $170.00 price target on shares of Marathon Petroleum in a research report on Tuesday, December 10th. BMO Capital Markets decreased their price objective on shares of Marathon Petroleum from $200.00 to $190.00 and set an "outperform" rating for the company in a research note on Friday, October 4th. Finally, Raymond James boosted their target price on Marathon Petroleum from $190.00 to $192.00 and gave the stock a "strong-buy" rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $181.20.

Insider Buying and Selling at Marathon Petroleum

In related news, Director Jeffrey C. Campbell bought 6,000 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The stock was bought at an average cost of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the transaction, the director now owns 6,090 shares of the company's stock, valued at approximately $911,124.90. The trade was a 6,666.67 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.21% of the company's stock.

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.