SteelPeak Wealth LLC Cuts Stake in Marathon Petroleum Co. (NYSE:MPC)

SteelPeak Wealth LLC cut its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 37.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,041 shares of the oil and gas company’s stock after selling 9,695 shares during the quarter. SteelPeak Wealth LLC’s holdings in Marathon Petroleum were worth $2,238,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Gladius Capital Management LP bought a new stake in Marathon Petroleum in the third quarter worth $26,000. MeadowBrook Investment Advisors LLC lifted its stake 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 acquiring an additional 80 shares during the last quarter. True Wealth Design LLC boosted its holdings in Marathon Petroleum by 672.7% during 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 during the 3rd quarter worth approximately $30,000. Finally, Darwin Wealth Management LLC purchased a new position in Marathon Petroleum in the 3rd quarter worth approximately $33,000. 76.77% of the stock is currently owned by institutional investors.

Insider Activity at Marathon Petroleum

In other news, Director Jeffrey C. Campbell purchased 6,000 shares of the business’s stock in a transaction dated 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 acquisition, the director now directly owns 6,090 shares in the company, valued at $911,124.90. This represents a 6,666.67 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Bank of America assumed coverage on shares of Marathon Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 target price on the stock. BMO Capital Markets lowered their price objective on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Scotiabank cut their target price on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company lowered their price target on Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Finally, TD Cowen reiterated a “buy” rating and issued a $170.00 price objective on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Two research 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $181.20.

Marathon Petroleum Trading Up 0.5 %

NYSE:MPC opened at $151.45 on Thursday. The firm has a market capitalization of $48.67 billion, a P/E ratio of 12.00, a PEG ratio of 2.88 and a beta of 1.42. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. Marathon Petroleum Co. has a one year low of $130.54 and a one year high of $221.11. The company’s 50-day simple moving average is $146.87 and its 200 day simple moving average is $158.34.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS 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 analysts’ expectations of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The business’s revenue for the quarter was down 14.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.14 EPS. As a group, analysts forecast that Marathon Petroleum Co. will post 8.88 EPS for the current fiscal year.

Marathon Petroleum announced that its board has approved a share repurchase plan on Tuesday, November 5th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Wednesday, February 19th. Marathon Petroleum’s payout ratio is 28.84%.

Marathon Petroleum 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.