Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Wedmont Private Capital

Wedmont Private Capital lessened its holdings in Marathon Petroleum Co. (NYSE:MPC) by 5.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,086 shares of the oil and gas company’s stock after selling 340 shares during the period. Wedmont Private Capital’s holdings in Marathon Petroleum were worth $866,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. grew its stake in shares of Marathon Petroleum by 27.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company’s stock valued at $7,033,000 after buying an additional 9,355 shares in the last quarter. Wilmington Savings Fund Society FSB raised 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 during the period. Holistic Planning LLC purchased a new position in shares of Marathon Petroleum in the third quarter valued at $912,000. World Investment Advisors LLC grew its holdings in Marathon Petroleum by 4,227.5% during the 3rd quarter. World Investment Advisors LLC now owns 69,759 shares of the oil and gas company’s stock valued at $11,364,000 after purchasing an additional 68,147 shares in the last quarter. Finally, Magnolia Capital Advisors LLC lifted its holdings in Marathon Petroleum by 353.4% in the 2nd quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock worth $9,713,000 after buying an additional 43,639 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Jeffrey C. Campbell bought 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was acquired at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the transaction, the director now directly owns 6,090 shares of the company’s stock, valued at $911,124.90. This trade represents a 6,666.67 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on MPC shares. Mizuho cut their target price on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. TD Cowen reaffirmed a “buy” rating and issued a $170.00 price objective on shares of Marathon Petroleum in a report on Tuesday, December 10th. JPMorgan Chase & Co. lowered their price objective 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. Wells Fargo & Company dropped their target price on Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Finally, Bank of America initiated coverage on shares of Marathon Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price objective on the stock. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.73.

Marathon Petroleum Stock Performance

Shares of MPC opened at $149.54 on Wednesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The company’s fifty day moving average price is $147.88 and its 200 day moving average price is $159.57. The company has a market capitalization of $48.06 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 2.56 and a beta of 1.42. Marathon Petroleum Co. has a one year low of $130.54 and a one year high of $221.11.

Marathon Petroleum (NYSE:MPC) 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. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The business had revenue of $35.37 billion for the quarter, compared to the consensus estimate of $34.34 billion. During the same period last year, the business earned $8.14 earnings per share. The firm’s revenue for the quarter was down 14.9% compared to the same quarter last year. As a group, analysts expect that Marathon Petroleum Co. will post 9.47 earnings per share for the current year.

Marathon Petroleum announced that its board 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 generally an indication that the company’s board of directors believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 2.43%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s payout ratio is presently 28.84%.

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.