Stonegate Investment Group LLC Increases Holdings in Marathon Petroleum Co. (NYSE:MPC)

Stonegate Investment Group LLC increased its position in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 115.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,173 shares of the oil and gas company's stock after buying an additional 1,699 shares during the quarter. Stonegate Investment Group LLC's holdings in Marathon Petroleum were worth $443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in MPC. Gladius Capital Management LP purchased a new position in Marathon Petroleum in the 3rd quarter worth approximately $26,000. MeadowBrook Investment Advisors LLC lifted its position in 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 valued at $28,000 after purchasing an additional 80 shares during the period. True Wealth Design LLC lifted 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 acquiring an additional 148 shares during the period. Harbor Capital Advisors Inc. bought a new position in Marathon Petroleum in the third quarter worth approximately $30,000. Finally, Darwin Wealth Management LLC bought a new stake in Marathon Petroleum during the third quarter valued at about $33,000. Institutional investors own 76.77% of the company's stock.

Marathon Petroleum Price Performance

NYSE:MPC traded up $0.81 during midday trading on Wednesday, hitting $151.45. 1,785,347 shares of the stock were exchanged, compared to its average volume of 2,819,150. Marathon Petroleum Co. has a one year low of $130.54 and a one year high of $221.11. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $48.67 billion, a price-to-earnings ratio of 12.00, a P/E/G ratio of 2.88 and a beta of 1.42. The business has a 50-day moving average price of $146.87 and a two-hundred day moving average price of $158.34.

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 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 the consensus estimate of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The firm's revenue for the quarter was down 14.9% compared to the same quarter last year. During the same period last year, the business earned $8.14 earnings per share. Sell-side analysts predict that Marathon Petroleum Co. will post 8.88 EPS for the current year.

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

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th will be issued 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 2.40%. Marathon Petroleum's dividend payout ratio is presently 28.84%.

Insider Buying and Selling at Marathon Petroleum

In other news, Director Jeffrey C. Campbell bought 6,000 shares of the firm's stock in a transaction dated Wednesday, December 4th. The shares were bought 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 owns 6,090 shares of the company's stock, valued at $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 the SEC website. Insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. TD Cowen restated a "buy" rating and set a $170.00 target price on shares of Marathon Petroleum in a research report on Tuesday, December 10th. JPMorgan Chase & Co. decreased their target price on Marathon Petroleum from $172.00 to $171.00 and set a "neutral" rating for the company in a research report on Wednesday, October 9th. Wells Fargo & Company lowered their price target on shares of Marathon Petroleum from $186.00 to $182.00 and set an "overweight" rating on the stock in a report on Friday, January 10th. Mizuho decreased their price target on shares of Marathon Petroleum from $175.00 to $174.00 and set a "neutral" rating for the company in a report on Monday, December 16th. Finally, BMO Capital Markets reduced their price objective on Marathon Petroleum from $200.00 to $190.00 and set an "outperform" rating for the company in a research note on Friday, October 4th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum currently has an average rating of "Moderate Buy" and an average price target of $181.20.

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.