Everett Harris & Co. CA Purchases 287 Shares of Marathon Petroleum Co. (NYSE:MPC)

Everett Harris & Co. CA boosted its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 19.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,752 shares of the oil and gas company’s stock after purchasing an additional 287 shares during the period. Everett Harris & Co. CA’s holdings in Marathon Petroleum were worth $244,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MPC. Gladius Capital Management LP purchased a new stake in shares of Marathon Petroleum in the third quarter worth approximately $26,000. MeadowBrook Investment Advisors LLC increased its stake 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 worth $28,000 after purchasing an additional 80 shares during the period. True Wealth Design LLC lifted its position in shares of Marathon Petroleum by 672.7% during the third 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 during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Marathon Petroleum during the third quarter valued at $30,000. Finally, Darwin Wealth Management LLC bought a new position in shares of Marathon Petroleum in the third quarter worth about $33,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MPC shares. Mizuho decreased their price objective on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a report on Monday, December 16th. TD Cowen reissued a “buy” rating and issued a $170.00 price objective on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Citigroup decreased their target price 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. Wells Fargo & Company dropped their price target on Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Finally, Scotiabank decreased their price objective on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.20.

Insider Activity

In other Marathon Petroleum news, Director Jeffrey C. Campbell purchased 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were bought at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the acquisition, the director now owns 6,090 shares in the company, valued at $911,124.90. This represents a 6,666.67 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $145.37 on Friday. Marathon Petroleum Co. has a fifty-two week low of $130.54 and a fifty-two 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 market cap of $46.72 billion, a PE ratio of 11.52, a P/E/G ratio of 2.88 and a beta of 1.42. The business has a 50-day simple moving average of $146.26 and a two-hundred day simple moving average of $158.08.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.90. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The business had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. During the same quarter in the prior year, the business posted $8.14 EPS. Marathon Petroleum’s revenue for the quarter was down 14.9% compared to the same quarter last year. As a group, equities analysts expect that Marathon Petroleum Co. will post 8.88 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th will be paid a dividend of $0.91 per share. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 annualized dividend and a yield of 2.50%. Marathon Petroleum’s payout ratio is presently 28.84%.

Marathon Petroleum declared that its Board of Directors has initiated a stock buyback 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 usually an indication that the company’s board of directors 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.