Miracle Mile Advisors LLC Invests $1.04 Million in Marathon Petroleum Co. (NYSE:MPC)

Miracle Mile Advisors LLC bought a new stake in Marathon Petroleum Co. (NYSE:MPC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 7,469 shares of the oil and gas company's stock, valued at approximately $1,042,000.

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

Marathon Petroleum Stock Up 1.8 %

MPC stock traded up $2.63 during trading on Wednesday, reaching $152.05. The stock had a trading volume of 2,455,663 shares, compared to its average volume of 2,985,040. Marathon Petroleum Co. has a one year low of $130.54 and a one year high of $221.11. The company's 50 day moving average is $147.88 and its two-hundred day moving average is $159.57. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $48.87 billion, a price-to-earnings ratio of 12.05, a P/E/G ratio of 2.56 and a beta of 1.42.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, beating 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 return on equity of 16.19% and a net margin of 3.15%. Marathon Petroleum's quarterly revenue was down 14.9% on a year-over-year basis. During the same period in the prior year, the company posted $8.14 earnings per share. Equities research analysts forecast that Marathon Petroleum Co. will post 9.47 EPS for the current year.

Marathon Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th were issued a $0.91 dividend. This is an increase from Marathon Petroleum's previous quarterly dividend of $0.83. 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. Marathon Petroleum's payout ratio is 28.84%.

Marathon Petroleum declared that its Board of Directors has approved a share repurchase plan on Tuesday, November 5th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to reacquire up to 10% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MPC shares. Bank of America began coverage on Marathon Petroleum in a report on Thursday, October 17th. They set a "neutral" rating and a $174.00 price target on the stock. BMO Capital Markets decreased their price target on shares of Marathon Petroleum from $200.00 to $190.00 and set an "outperform" rating for the company in a research report on Friday, October 4th. Barclays cut their price target on shares of Marathon Petroleum from $168.00 to $159.00 and set an "overweight" rating on the stock in a report on Monday, November 11th. 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. Finally, Wells Fargo & Company cut their target price on Marathon Petroleum from $186.00 to $182.00 and set an "overweight" rating on the stock in a report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $183.73.

Insider Activity at Marathon Petroleum

In other news, Director Jeffrey C. Campbell acquired 6,000 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The shares were acquired at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the purchase, 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 purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.21% of the stock is owned by company insiders.

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.