Baker Tilly Wealth Management LLC Sells 331 Shares of Marathon Petroleum Co. (NYSE:MPC)

Baker Tilly Wealth Management LLC reduced its position in Marathon Petroleum Co. (NYSE:MPC) by 14.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,888 shares of the oil and gas company’s stock after selling 331 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in Marathon Petroleum were worth $263,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Gladius Capital Management LP bought a new position in Marathon Petroleum during the third quarter valued at approximately $26,000. MeadowBrook Investment Advisors LLC grew its holdings in shares of Marathon Petroleum by 88.9% during the 3rd 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 last quarter. True Wealth Design LLC raised its position in Marathon Petroleum by 672.7% in the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 148 shares during the period. Harbor Capital Advisors Inc. bought a new stake in Marathon Petroleum in the third quarter worth $30,000. Finally, Darwin Wealth Management LLC bought a new position in shares of Marathon Petroleum during the third quarter valued at about $33,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Scotiabank dropped their target price on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. BMO Capital Markets cut their target price on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. JPMorgan Chase & Co. dropped their price target on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Mizuho decreased their price objective on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Finally, Piper Sandler dropped their target price 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. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average price target of $183.73.

Insider Buying and Selling at Marathon Petroleum

In other news, Director Jeffrey C. Campbell acquired 6,000 shares of Marathon Petroleum stock in a transaction on Wednesday, December 4th. The stock was acquired at an average cost of $149.61 per share, for a total transaction of $897,660.00. Following the purchase, the director now owns 6,090 shares in the company, valued at $911,124.90. This trade represents a 6,666.67 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is owned by company insiders.

Marathon Petroleum Price Performance

MPC opened at $142.55 on Friday. 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 cap of $45.81 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 2.56 and a beta of 1.42. The stock has a fifty day simple moving average of $147.84 and a two-hundred day simple moving average of $160.13. Marathon Petroleum Co. has a 12-month low of $130.54 and a 12-month high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.90. The company had revenue of $35.37 billion during the quarter, compared to analysts’ expectations of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. Marathon Petroleum’s revenue was down 14.9% on a year-over-year basis. During the same period last year, the company posted $8.14 EPS. Research analysts predict that Marathon Petroleum Co. will post 9.47 earnings per share for the current fiscal 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 paid a $0.91 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.55%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio is presently 28.84%.

Marathon Petroleum declared that its Board of Directors has authorized 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 repurchase up to 10% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

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.