Stonebridge Financial Group LLC Invests $2.99 Million in Marathon Petroleum Co. (NYSE:MPC)

Stonebridge Financial Group LLC purchased a new stake in Marathon Petroleum Co. (NYSE:MPC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,421 shares of the oil and gas company’s stock, valued at approximately $2,988,000.

A number of other hedge funds have also recently bought and sold shares of the business. CWM LLC grew its holdings in Marathon Petroleum by 20.6% during the 3rd quarter. CWM LLC now owns 19,888 shares of the oil and gas company’s stock worth $3,240,000 after acquiring an additional 3,399 shares in the last quarter. Carnegie Investment Counsel lifted its holdings in shares of Marathon Petroleum by 6.1% in the 3rd quarter. Carnegie Investment Counsel now owns 29,187 shares of the oil and gas company’s stock worth $4,755,000 after purchasing an additional 1,689 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in Marathon Petroleum by 191.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 6,489 shares of the oil and gas company’s stock worth $1,057,000 after buying an additional 4,265 shares during the last quarter. CHICAGO TRUST Co NA acquired a new position in shares of Marathon Petroleum during the third quarter valued at $278,000. Finally, Koshinski Asset Management Inc. increased its holdings in shares of Marathon Petroleum by 8.4% in the 3rd quarter. Koshinski Asset Management Inc. now owns 8,020 shares of the oil and gas company’s stock worth $1,306,000 after acquiring an additional 619 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 2.5 %

Marathon Petroleum stock opened at $153.84 on Tuesday. Marathon Petroleum Co. has a 1 year low of $130.54 and a 1 year high of $221.11. The firm’s 50 day moving average price is $145.91 and its two-hundred day moving average price is $157.51. The firm has a market cap of $49.44 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 2.91 and a beta of 1.41. 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 announced its earnings results 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. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The company had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. During the same period in the previous year, the firm earned $3.98 earnings per share. Marathon Petroleum’s revenue for the quarter was down 9.1% compared to the same quarter last year. On average, research analysts predict that Marathon Petroleum Co. will post 8.7 EPS for the current fiscal year.

Marathon Petroleum announced that its Board of Directors has approved a share 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 purchase up to 10% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Wednesday, February 19th. Marathon Petroleum’s payout ratio is 36.66%.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell bought 6,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 6,090 shares in the company, valued at approximately $911,124.90. This represents a 6,666.67 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on MPC. Wells Fargo & Company upped their target price on shares of Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Bank of America initiated coverage on Marathon Petroleum in a research report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 target price on the stock. Mizuho reduced their price target 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. Tudor Pickering raised Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. Finally, Barclays reduced their price objective on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $181.27.

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.