Continuum Advisory LLC Has $130,000 Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Continuum Advisory LLC reduced its position in Marathon Petroleum Co. (NYSE:MPC) by 52.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 825 shares of the oil and gas company’s stock after selling 925 shares during the period. Continuum Advisory LLC’s holdings in Marathon Petroleum were worth $130,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. WR Wealth Planners LLC raised its position in Marathon Petroleum by 15.2% during the second quarter. WR Wealth Planners LLC now owns 431 shares of the oil and gas company’s stock valued at $75,000 after acquiring an additional 57 shares in the last quarter. Legacy Advisors LLC raised its holdings in shares of Marathon Petroleum by 5.0% during the 2nd quarter. Legacy Advisors LLC now owns 1,238 shares of the oil and gas company’s stock valued at $215,000 after purchasing an additional 59 shares in the last quarter. Latitude Advisors LLC lifted its stake in shares of Marathon Petroleum by 3.6% in the 2nd quarter. Latitude Advisors LLC now owns 1,714 shares of the oil and gas company’s stock valued at $297,000 after purchasing an additional 60 shares during the last quarter. SouthState Corp boosted its holdings in Marathon Petroleum by 1.5% in the second quarter. SouthState Corp now owns 4,122 shares of the oil and gas company’s stock worth $715,000 after purchasing an additional 61 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Marathon Petroleum by 0.9% during the second quarter. EverSource Wealth Advisors LLC now owns 7,165 shares of the oil and gas company’s stock worth $1,268,000 after buying an additional 61 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Tudor Pickering downgraded Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 9th. Scotiabank reduced their price objective on shares of Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Mizuho lowered their target price on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Morgan Stanley cut their target price on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Finally, Barclays lowered their price target on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Two 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $185.27.

Insider Buying and Selling at Marathon Petroleum

In related news, Director Jeffrey C. Campbell acquired 6,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was bought at an average cost of $149.61 per share, with a total value of $897,660.00. Following the completion of the acquisition, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.21% of the company’s stock.

Marathon Petroleum Stock Performance

MPC opened at $151.99 on Thursday. The stock’s 50 day simple moving average is $156.47 and its 200-day simple moving average is $165.51. 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 stock has a market cap of $48.85 billion, a PE ratio of 11.89, a P/E/G ratio of 2.65 and a beta of 1.40. Marathon Petroleum Co. has a 1 year low of $141.45 and a 1 year high of $221.11.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.90. The firm 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 business’s revenue for the quarter was down 14.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.14 EPS. Sell-side analysts forecast that Marathon Petroleum Co. will post 9.5 EPS for the current year.

Marathon Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were paid a dividend of $0.91 per share. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a yield of 2.39%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 28.84%.

Marathon Petroleum declared that its Board of Directors has initiated a stock 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 purchase up to 10% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is 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.