HB Wealth Management LLC Purchases 1,872 Shares of Marathon Petroleum Co. (NYSE:MPC)

HB Wealth Management LLC increased its position in Marathon Petroleum Co. (NYSE:MPC) by 8.9% during the fourth quarter, Holdings Channel reports. The firm owned 22,907 shares of the oil and gas company’s stock after buying an additional 1,872 shares during the quarter. HB Wealth Management LLC’s holdings in Marathon Petroleum were worth $3,189,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of MPC. Gladius Capital Management LP bought a new stake in shares of Marathon Petroleum in the 3rd quarter valued at about $26,000. MeadowBrook Investment Advisors LLC raised its holdings in shares of Marathon Petroleum by 88.9% in 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 period. True Wealth Design LLC raised its holdings 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 valued at $28,000 after acquiring an additional 148 shares during the period. Harbor Capital Advisors Inc. bought a new position in Marathon Petroleum in the 3rd quarter valued at about $30,000. Finally, Darwin Wealth Management LLC bought a new position in Marathon Petroleum in the 3rd quarter valued at about $33,000. 76.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on MPC shares. BMO Capital Markets lowered their price target 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. Scotiabank lowered their price target on shares of Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. TD Cowen reissued a “buy” rating and issued a $170.00 price target on shares of Marathon Petroleum in a report on Tuesday, December 10th. Barclays lowered their price target on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $181.20.

Insider Buying and Selling at Marathon Petroleum

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

Marathon Petroleum Stock Performance

NYSE MPC opened at $152.83 on Monday. 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 firm has a market capitalization of $49.12 billion, a price-to-earnings ratio of 12.11, a P/E/G ratio of 2.51 and a beta of 1.42. The firm’s 50 day simple moving average is $147.76 and its 200 day simple moving average is $159.21. Marathon Petroleum Co. has a 1 year low of $130.54 and a 1 year high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.90. The business had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The firm’s revenue for the quarter was down 14.9% on a year-over-year basis. During the same quarter last year, the business posted $8.14 EPS. As a group, research analysts expect that Marathon Petroleum Co. will post 9.38 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were given 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 2.38%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio (DPR) is currently 28.84%.

Marathon Petroleum declared that its board has initiated a stock buyback plan 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 reacquire up to 10% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

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.