Tidal Investments LLC Buys 9,551 Shares of Marathon Petroleum Co. (NYSE:MPC)

Tidal Investments LLC raised its holdings in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 121.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,445 shares of the oil and gas company's stock after purchasing an additional 9,551 shares during the quarter. Tidal Investments LLC's holdings in Marathon Petroleum were worth $2,842,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Oppenheimer Asset Management Inc. lifted its stake in shares of 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 acquiring an additional 9,355 shares during the last quarter. Founders Financial Securities LLC raised its position in Marathon Petroleum by 22.8% in the second quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company's stock valued at $863,000 after purchasing an additional 924 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its stake in shares of 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 valued at $3,466,000 after purchasing an additional 18,764 shares in the last quarter. Holistic Planning LLC acquired a new position in Marathon Petroleum in the 3rd quarter valued at approximately $912,000. Finally, Magnolia Capital Advisors LLC raised its stake in shares of Marathon Petroleum by 353.4% during the second quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company's stock valued at $9,713,000 after acquiring an additional 43,639 shares during the last quarter. Institutional investors own 76.77% of the company's stock.

Marathon Petroleum Stock Down 5.0 %

Shares of NYSE MPC traded down $7.34 during mid-day trading on Monday, reaching $138.22. 3,517,872 shares of the company's stock traded hands, compared to its average volume of 2,619,229. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. Marathon Petroleum Co. has a 1-year low of $137.89 and a 1-year high of $221.11. The stock has a market cap of $44.42 billion, a P/E ratio of 11.24, a PEG ratio of 2.67 and a beta of 1.39. The business has a 50-day simple moving average of $155.10 and a 200 day simple moving average of $164.91.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, topping the consensus estimate of $0.97 by $0.90. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The firm had revenue of $35.37 billion during the quarter, compared to the consensus estimate of $34.34 billion. During the same period in the prior year, the business posted $8.14 earnings per share. The company's quarterly revenue was down 14.9% compared to the same quarter last year. On average, analysts expect that Marathon Petroleum Co. will post 9.5 EPS for the current fiscal year.

Marathon Petroleum announced that its Board of Directors has approved 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 repurchase up to 10% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Marathon Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders 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. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.63%. Marathon Petroleum's dividend payout ratio is presently 28.84%.

Insider Activity

In other news, Director Jeffrey C. Campbell bought 6,000 shares of the company's 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 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MPC has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their price objective on Marathon Petroleum from $172.00 to $171.00 and set a "neutral" rating for the company in a report on Wednesday, October 9th. Morgan Stanley decreased their price target on Marathon Petroleum from $196.00 to $182.00 and set an "overweight" rating for the company in a research note on Monday, September 16th. Mizuho cut their price objective on Marathon Petroleum from $175.00 to $174.00 and set a "neutral" rating on the stock in a research note on Monday. Tudor, Pickering, Holt & Co. downgraded shares of Marathon Petroleum from a "buy" rating to a "sell" rating in a research report on Monday, September 9th. Finally, Piper Sandler dropped their price target on shares of Marathon Petroleum from $168.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Marathon Petroleum has an average rating of "Moderate Buy" and an average price target of $184.00.

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.