Miracle Mile Advisors LLC Acquires Shares of 7,469 Marathon Petroleum Co. (NYSE:MPC)

Miracle Mile Advisors LLC acquired a new stake in Marathon Petroleum Co. (NYSE:MPC) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,469 shares of the oil and gas company’s stock, valued at approximately $1,042,000.

Several other large investors also recently modified their holdings of MPC. Gladius Capital Management LP acquired a new stake in shares of Marathon Petroleum during the 3rd quarter worth $26,000. MeadowBrook Investment Advisors LLC grew its holdings in shares of Marathon Petroleum by 88.9% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 80 shares in the last quarter. True Wealth Design LLC grew its holdings in shares of 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 worth $28,000 after purchasing an additional 148 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Marathon Petroleum during the 3rd quarter worth $30,000. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Marathon Petroleum during the 3rd quarter worth $33,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Marathon Petroleum news, Director Jeffrey C. Campbell bought 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was acquired at an average price of $149.61 per share, with a total value of $897,660.00. Following the completion of the purchase, the director now directly owns 6,090 shares of the company’s stock, valued at approximately $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 is available at this link. 0.21% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MPC shares. TD Cowen restated a “buy” rating and set a $170.00 price objective on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Piper Sandler dropped their price objective on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Mizuho dropped their price objective on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Bank of America started coverage on Marathon Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $174.00 price objective for the company. Finally, Citigroup dropped their price objective on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $183.73.

Marathon Petroleum Price Performance

Shares of MPC opened at $149.54 on Wednesday. Marathon Petroleum Co. has a 1 year low of $130.54 and a 1 year high of $221.11. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The company has a market capitalization of $48.06 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 2.56 and a beta of 1.42. The business has a 50-day moving average of $147.88 and a 200-day moving average of $159.57.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.90. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The company had revenue of $35.37 billion during the quarter, compared to the consensus estimate of $34.34 billion. During the same period last year, the company earned $8.14 earnings per share. The firm’s revenue was down 14.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Marathon Petroleum Co. will post 9.47 earnings per share for the current year.

Marathon Petroleum announced that its board has approved a stock repurchase 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 reacquire up to 10% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Marathon Petroleum Increases Dividend

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