Marcum Wealth LLC Sells 436 Shares of Marathon Petroleum Co. (NYSE:MPC)

Marcum Wealth LLC reduced its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 11.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,346 shares of the oil and gas company’s stock after selling 436 shares during the period. Marcum Wealth LLC’s holdings in Marathon Petroleum were worth $467,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MPC. Gladius Capital Management LP purchased a new position in Marathon Petroleum in the third quarter valued at approximately $26,000. MeadowBrook Investment Advisors LLC raised its stake in shares of 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 valued at $28,000 after buying an additional 80 shares during the period. True Wealth Design LLC lifted its position in shares of Marathon Petroleum by 672.7% during the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 148 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Marathon Petroleum during the 3rd quarter worth $30,000. Finally, Darwin Wealth Management LLC purchased a new stake in Marathon Petroleum in the 3rd quarter worth about $33,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Activity

In other news, Director Jeffrey C. Campbell bought 6,000 shares of the business’s stock in a transaction on 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 purchase, the director now directly 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wells Fargo & Company dropped their price objective on shares of Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Citigroup dropped their price target on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Piper Sandler reduced their price objective on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Mizuho dropped their target price 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. Finally, Barclays reduced their price target on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.73.

Marathon Petroleum Stock Up 1.9 %

Shares of NYSE MPC opened at $149.54 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The business has a 50-day moving average of $147.88 and a 200-day moving average of $159.57. The firm has a market capitalization of $48.06 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 2.56 and a beta of 1.42. Marathon Petroleum Co. has a 12 month low of $130.54 and a 12 month high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.90. The firm had revenue of $35.37 billion for the quarter, compared to analysts’ expectations of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The business’s quarterly revenue was down 14.9% on a year-over-year basis. During the same quarter last year, the company posted $8.14 EPS. Sell-side analysts expect that Marathon Petroleum Co. will post 9.47 earnings per share for the current fiscal year.

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

Marathon Petroleum Increases Dividend

The company also recently disclosed 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 boost from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date was Wednesday, November 20th. Marathon Petroleum’s dividend payout ratio is presently 28.84%.

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.