Marathon Petroleum Co. (NYSE:MPC) Stock Position Lowered by Resolute Wealth Strategies LLC

Resolute Wealth Strategies LLC lessened its position in Marathon Petroleum Co. (NYSE:MPC) by 7.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,202 shares of the oil and gas company’s stock after selling 170 shares during the quarter. Resolute Wealth Strategies LLC’s holdings in Marathon Petroleum were worth $307,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Auxano Advisors LLC lifted its position in shares of Marathon Petroleum by 4.3% in the 4th quarter. Auxano Advisors LLC now owns 2,643 shares of the oil and gas company’s stock valued at $369,000 after acquiring an additional 109 shares in the last quarter. Fidelis Capital Partners LLC lifted its position in shares of Marathon Petroleum by 2.7% in the 4th quarter. Fidelis Capital Partners LLC now owns 3,010 shares of the oil and gas company’s stock valued at $442,000 after acquiring an additional 78 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Marathon Petroleum in the 4th quarter valued at approximately $133,000. Jones Financial Companies Lllp lifted its position in shares of Marathon Petroleum by 32.6% in the 4th quarter. Jones Financial Companies Lllp now owns 242,342 shares of the oil and gas company’s stock valued at $33,807,000 after acquiring an additional 59,563 shares in the last quarter. Finally, SRS Capital Advisors Inc. lifted its position in shares of Marathon Petroleum by 187.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,645 shares of the oil and gas company’s stock valued at $369,000 after acquiring an additional 1,726 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of MPC opened at $145.75 on Tuesday. The company’s fifty day moving average is $148.39 and its 200-day moving average is $155.21. Marathon Petroleum Co. has a 12 month low of $130.54 and a 12 month high of $221.11. The firm has a market cap of $46.84 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 3.11 and a beta of 1.41. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.71. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The business had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. During the same period last year, the business posted $3.98 EPS. Marathon Petroleum’s revenue was down 9.1% compared to the same quarter last year. Equities analysts expect that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.

Marathon Petroleum announced that its Board of Directors has authorized a share repurchase plan 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 plans are often an indication that the company’s board of directors believes its shares are undervalued.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be paid a $0.91 dividend. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a yield of 2.50%. Marathon Petroleum’s payout ratio is presently 36.66%.

Insider Activity at Marathon Petroleum

In related news, Director Jeffrey C. Campbell purchased 6,000 shares of Marathon Petroleum stock in a transaction on Wednesday, December 4th. The stock was purchased at an average cost of $149.61 per share, with a total value of $897,660.00. Following the acquisition, the director now directly owns 6,090 shares in the company, valued at approximately $911,124.90. This trade 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 this link. 0.21% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MPC shares. Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Raymond James increased their target price on shares of Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 17th. TD Cowen reiterated a “buy” rating and issued a $170.00 target price on shares of Marathon Petroleum in a research report on Tuesday, December 10th. 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 report on Monday, December 16th. Finally, Wells Fargo & Company increased 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. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $181.27.

About Marathon Petroleum

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.