Pallas Capital Advisors LLC Has $794,000 Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Pallas Capital Advisors LLC grew its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 154.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,695 shares of the oil and gas company’s stock after buying an additional 3,460 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Marathon Petroleum were worth $794,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Gladius Capital Management LP bought a new position in shares of Marathon Petroleum in the third quarter worth about $26,000. MeadowBrook Investment Advisors LLC increased its holdings in shares of Marathon Petroleum by 88.9% in the third 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 in 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 last quarter. Harbor Capital Advisors Inc. acquired a new position in Marathon Petroleum during the 3rd quarter worth $30,000. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Marathon Petroleum in the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

MPC has been the topic of several research reports. Mizuho cut their price target on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Piper Sandler reduced their target price on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Barclays dropped their price target on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. JPMorgan Chase & Co. reduced their price objective on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Finally, Scotiabank dropped their target price on shares of Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $183.73.

Marathon Petroleum Price Performance

Shares of MPC opened at $149.54 on Wednesday. The stock has a 50 day simple moving average of $147.88 and a 200 day simple moving average of $159.57. Marathon Petroleum Co. has a 52-week low of $130.54 and a 52-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 firm 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 released its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, beating the consensus estimate 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%. The business’s quarterly revenue was down 14.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $8.14 earnings per share. Sell-side analysts predict that Marathon Petroleum Co. will post 9.47 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were paid a $0.91 dividend. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, November 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.43%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 28.84%.

Marathon Petroleum declared that its board has approved 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 stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell bought 6,000 shares of Marathon Petroleum 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 completion of the acquisition, the director now 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.21% of the stock is owned by insiders.

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.