Concurrent Investment Advisors LLC Has $2.55 Million Holdings in Marathon Petroleum Co. (NYSE:MPC)

Concurrent Investment Advisors LLC lessened its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,246 shares of the oil and gas company’s stock after selling 370 shares during the period. Concurrent Investment Advisors LLC’s holdings in Marathon Petroleum were worth $2,545,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Gladius Capital Management LP acquired a new position in Marathon Petroleum in the third quarter valued at $26,000. MeadowBrook Investment Advisors LLC lifted its holdings in 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 buying an additional 80 shares during the period. True Wealth Design LLC lifted its holdings in Marathon Petroleum by 672.7% in the third quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 148 shares during the period. Harbor Capital Advisors Inc. acquired a new position in Marathon Petroleum in the third quarter valued at $30,000. Finally, Darwin Wealth Management LLC acquired a new position in Marathon Petroleum in the third quarter valued at $33,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Trading Down 2.8 %

Shares of MPC stock opened at $153.81 on Friday. 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 company has a 50-day simple moving average of $146.72 and a two-hundred day simple moving average of $156.59. The company has a market capitalization of $49.43 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 3.08 and a beta of 1.41.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. The business had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $31.94 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.98 EPS. Research analysts anticipate that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders 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 2.37%. The ex-dividend date of this dividend is Wednesday, February 19th. Marathon Petroleum’s payout ratio is 36.66%.

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

Wall Street Analysts Forecast Growth

MPC has been the topic of several recent analyst reports. Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. Raymond James boosted their target price on shares of Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a report on Friday, January 17th. Wells Fargo & Company upped their price objective on shares of Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Mizuho dropped their price objective on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Finally, TD Cowen reiterated a “buy” rating and set a $170.00 price objective on shares of Marathon Petroleum in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $181.27.

Insider Buying and Selling at Marathon Petroleum

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

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.