Marathon Petroleum Co. (NYSE:MPC) Position Boosted by Merit Financial Group LLC

Merit Financial Group LLC boosted its stake in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 103.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,936 shares of the oil and gas company's stock after acquiring an additional 4,026 shares during the period. Merit Financial Group LLC's holdings in Marathon Petroleum were worth $1,107,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its stake in shares of 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 valued at $75,757,000 after purchasing an additional 501,441 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of Marathon Petroleum by 27.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company's stock valued at $7,033,000 after buying an additional 9,355 shares in the last quarter. Wilmington Savings Fund Society FSB raised its stake in shares of Marathon Petroleum by 747.3% during the 3rd 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 purchased a new position in Marathon Petroleum during the 3rd quarter valued at about $912,000. Finally, World Investment Advisors LLC raised its position in 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 during the last quarter. Institutional investors and hedge funds own 76.77% of the company's stock.

Marathon Petroleum Trading Down 2.2 %

Shares of MPC traded down $3.31 during trading hours on Wednesday, hitting $147.51. The stock had a trading volume of 3,309,627 shares, compared to its average volume of 2,861,042. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. Marathon Petroleum Co. has a 12-month low of $130.54 and a 12-month high of $221.11. The firm has a market cap of $47.41 billion, a P/E ratio of 11.69, a P/E/G ratio of 2.98 and a beta of 1.42. The company's fifty day simple moving average is $147.61 and its 200 day simple moving average is $158.80.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.90. The company had revenue of $35.37 billion during 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%. The business's quarterly revenue was down 14.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $8.14 earnings per share. Equities research analysts forecast that Marathon Petroleum Co. will post 8.88 EPS for the current fiscal year.

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

Marathon Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend was Wednesday, November 20th. This is a boost from Marathon Petroleum's previous quarterly dividend of $0.83. Marathon Petroleum's payout ratio is currently 28.84%.

Insider Activity

In other news, Director Jeffrey C. Campbell purchased 6,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was acquired at an average cost of $149.61 per share, with a total value of $897,660.00. Following the acquisition, the director now owns 6,090 shares in the company, valued at approximately $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. Insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of Marathon Petroleum from $172.00 to $171.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 9th. BMO Capital Markets dropped their price target on Marathon Petroleum from $200.00 to $190.00 and set an "outperform" rating for the company in a research report on Friday, October 4th. Mizuho reduced their price objective on Marathon Petroleum from $175.00 to $174.00 and set a "neutral" rating on the stock in a research report on Monday, December 16th. Bank of America began coverage on Marathon Petroleum in a research report on Thursday, October 17th. They set a "neutral" rating and a $174.00 price objective for the company. Finally, Scotiabank reduced their target price 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. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Marathon Petroleum presently has a consensus rating of "Moderate Buy" and an average target price of $181.20.

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.