Wendell David Associates Inc. Raises Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Wendell David Associates Inc. raised its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 0.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 77,770 shares of the oil and gas company’s stock after buying an additional 110 shares during the quarter. Marathon Petroleum comprises approximately 1.1% of Wendell David Associates Inc.’s portfolio, making the stock its 29th biggest position. Wendell David Associates Inc.’s holdings in Marathon Petroleum were worth $10,849,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its position in Marathon Petroleum by 1,204.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock valued at $75,757,000 after acquiring an additional 501,441 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in shares of Marathon Petroleum by 27.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company’s stock valued at $7,033,000 after purchasing an additional 9,355 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its position in shares of Marathon Petroleum by 747.3% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company’s stock worth $3,466,000 after purchasing an additional 18,764 shares in the last quarter. Holistic Planning LLC purchased a new stake in shares of Marathon Petroleum in the 3rd quarter worth approximately $912,000. Finally, World Investment Advisors LLC raised its stake in Marathon Petroleum by 4,227.5% during the third quarter. World Investment Advisors LLC now owns 69,759 shares of the oil and gas company’s stock valued at $11,364,000 after buying an additional 68,147 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Insider Activity at Marathon Petroleum

In other news, Director Jeffrey C. Campbell bought 6,000 shares of the 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 purchase, 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 document filed with the SEC, which is available through this link. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. TD Cowen restated a “buy” rating and set a $170.00 price target on shares of Marathon Petroleum in a report on Tuesday, December 10th. JPMorgan Chase & Co. reduced their price objective on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. BMO Capital Markets dropped their target price on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Bank of America started coverage on shares of Marathon Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $174.00 price target for the company. Finally, Mizuho lowered their price objective on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $181.20.

Marathon Petroleum Price Performance

NYSE MPC opened at $147.51 on Thursday. The company has a 50-day moving average price of $147.61 and a 200-day moving average price of $158.80. Marathon Petroleum Co. has a 52 week low of $130.54 and a 52 week high of $221.11. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $47.41 billion, a P/E ratio of 11.69, a PEG ratio of 2.94 and a beta of 1.42.

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 for the quarter, topping 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 business had revenue of $35.37 billion for the quarter, compared to analysts’ expectations of $34.34 billion. During the same quarter last year, the company posted $8.14 EPS. The company’s revenue was down 14.9% compared to the same quarter last year. Equities research analysts anticipate that Marathon Petroleum Co. will post 8.88 earnings per share for the current year.

Marathon Petroleum announced that its board has approved a share buyback plan on Tuesday, November 5th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th were paid a $0.91 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.47%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio (DPR) is 28.84%.

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.