Bank of New Hampshire lifted its position in shares of Marathon Petroleum Co. (NYSE:MPC – Free Report) by 27.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 689 shares of the oil and gas company’s stock after purchasing an additional 150 shares during the period. Bank of New Hampshire’s holdings in Marathon Petroleum were worth $96,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in MPC. Oppenheimer Asset Management Inc. grew its position in shares of Marathon Petroleum by 27.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company’s stock worth $7,033,000 after buying an additional 9,355 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its stake in 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 valued at $3,466,000 after acquiring an additional 18,764 shares during the last quarter. Holistic Planning LLC acquired a new position in Marathon Petroleum during the 3rd quarter worth $912,000. World Investment Advisors LLC increased its position in shares of Marathon Petroleum by 4,227.5% in the 3rd quarter. World Investment Advisors LLC now owns 69,759 shares of the oil and gas company’s stock worth $11,364,000 after purchasing an additional 68,147 shares during the last quarter. Finally, Magnolia Capital Advisors LLC lifted its position 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 worth $9,713,000 after purchasing an additional 43,639 shares during the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.
Marathon Petroleum Trading Up 0.8 %
Shares of MPC stock opened at $141.60 on Wednesday. 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 stock has a 50-day simple moving average of $147.97 and a 200 day simple moving average of $160.60. Marathon Petroleum Co. has a fifty-two week low of $130.54 and a fifty-two week high of $221.11. The stock has a market capitalization of $45.51 billion, a P/E ratio of 11.22, a P/E/G ratio of 2.56 and a beta of 1.42.
Marathon Petroleum declared that its board has approved 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 reacquire up to 10% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.
Marathon Petroleum Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th were given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date was Wednesday, November 20th. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio is 28.84%.
Insider Buying and Selling
In other news, Director Jeffrey C. Campbell bought 6,000 shares of the firm’s stock in a transaction 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 acquisition, 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 position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.21% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have commented on MPC. Mizuho reduced their target price on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Piper Sandler decreased their price objective on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Citigroup dropped their target price on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. BMO Capital Markets lowered 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 report on Friday, October 4th. Finally, Bank of America assumed coverage on shares of Marathon Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 target price on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $184.00.
Get Our Latest Analysis on Marathon Petroleum
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.
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