Allen Mooney & Barnes Investment Advisors LLC Buys 1,009 Shares of Marathon Petroleum Co. (NYSE:MPC)

Allen Mooney & Barnes Investment Advisors LLC increased its stake in Marathon Petroleum Co. (NYSE:MPC) by 63.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,591 shares of the oil and gas company’s stock after purchasing an additional 1,009 shares during the quarter. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Marathon Petroleum were worth $362,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wallace Advisory Group LLC grew its stake in shares of Marathon Petroleum by 28.6% during the 4th quarter. Wallace Advisory Group LLC now owns 2,206 shares of the oil and gas company’s stock valued at $308,000 after purchasing an additional 490 shares during the period. Granite Bay Wealth Management LLC raised its position in Marathon Petroleum by 7.2% in the fourth quarter. Granite Bay Wealth Management LLC now owns 30,377 shares of the oil and gas company’s stock worth $4,238,000 after acquiring an additional 2,049 shares during the period. Pallas Capital Advisors LLC boosted its stake in shares of Marathon Petroleum by 154.8% during the 4th quarter. Pallas Capital Advisors LLC now owns 5,695 shares of the oil and gas company’s stock worth $794,000 after acquiring an additional 3,460 shares during the last quarter. Miracle Mile Advisors LLC purchased a new stake in shares of Marathon Petroleum in the 4th quarter worth $1,042,000. Finally, Burns J W & Co. Inc. NY raised its holdings in Marathon Petroleum by 8.4% in the 4th quarter. Burns J W & Co. Inc. NY now owns 6,560 shares of the oil and gas company’s stock worth $915,000 after purchasing an additional 510 shares during the period. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Jeffrey C. Campbell bought 6,000 shares of Marathon Petroleum stock in a transaction dated Wednesday, December 4th. The shares were acquired at an average price of $149.61 per share, with a total value of $897,660.00. Following the completion of the purchase, the director now owns 6,090 shares in the company, valued at $911,124.90. The trade was a 6,666.67 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Marathon Petroleum Trading Up 1.9 %

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

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

Marathon Petroleum announced that its Board of Directors has initiated a share 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 repurchase up to 10% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are 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 paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.43%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, November 20th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 28.84%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MPC shares. Bank of America assumed coverage on Marathon Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price objective on the stock. Barclays decreased their price objective on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. 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. TD Cowen restated a “buy” rating and issued a $170.00 price objective on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Finally, Mizuho dropped their price objective on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Two research 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $183.73.

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.