HB Wealth Management LLC Has $3.19 Million Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

HB Wealth Management LLC increased its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 8.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,907 shares of the oil and gas company’s stock after buying an additional 1,872 shares during the quarter. HB Wealth Management LLC’s holdings in Marathon Petroleum were worth $3,189,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew 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 in the last quarter. Paragon Capital Management Inc. boosted its holdings in Marathon Petroleum by 0.6% during the second quarter. Paragon Capital Management Inc. now owns 10,196 shares of the oil and gas company’s stock valued at $1,769,000 after purchasing an additional 65 shares in the last quarter. Catalyst Financial Partners LLC boosted its holdings in Marathon Petroleum by 1.6% during the third quarter. Catalyst Financial Partners LLC now owns 4,285 shares of the oil and gas company’s stock valued at $698,000 after purchasing an additional 67 shares in the last quarter. American Trust boosted its holdings in Marathon Petroleum by 5.3% during the third quarter. American Trust now owns 1,397 shares of the oil and gas company’s stock valued at $228,000 after purchasing an additional 70 shares in the last quarter. Finally, Financial Partners Group LLC boosted its holdings in Marathon Petroleum by 3.3% during the third quarter. Financial Partners Group LLC now owns 2,220 shares of the oil and gas company’s stock valued at $362,000 after purchasing an additional 71 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MPC shares. JPMorgan Chase & Co. decreased their price objective on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Mizuho cut their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Barclays cut their target price on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Bank of America started coverage on shares of Marathon Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $174.00 target price for the company. Finally, BMO Capital Markets cut their target price 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. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.20.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $152.83 on Monday. The firm has a fifty day moving average of $147.76 and a two-hundred day moving average of $159.21. The stock has a market capitalization of $49.12 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 2.51 and a beta of 1.42. 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.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, beating the consensus estimate of $0.97 by $0.90. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The company had revenue of $35.37 billion during the quarter, compared to analysts’ expectations of $34.34 billion. During the same quarter in the previous year, the company posted $8.14 EPS. The business’s revenue for the quarter was down 14.9% compared to the same quarter last year. As a group, equities research analysts predict that Marathon Petroleum Co. will post 9.38 EPS for the current year.

Marathon Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th were issued a $0.91 dividend. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.38%. Marathon Petroleum’s payout ratio is 28.84%.

Marathon Petroleum declared that its Board of Directors has authorized a share buyback program on Tuesday, November 5th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other news, Director Jeffrey C. Campbell purchased 6,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was bought at an average price of $149.61 per share, with a total value of $897,660.00. Following the acquisition, the director now directly owns 6,090 shares of the company’s stock, valued at approximately $911,124.90. This represents 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 at this hyperlink. 0.21% of the stock is owned by company insiders.

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.