BKM Wealth Management LLC Grows Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

BKM Wealth Management LLC raised its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 25.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,475 shares of the oil and gas company’s stock after buying an additional 1,306 shares during the quarter. BKM Wealth Management LLC’s holdings in Marathon Petroleum were worth $903,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MPC. Creative Planning lifted its position in shares of Marathon Petroleum by 0.5% during the third quarter. Creative Planning now owns 156,925 shares of the oil and gas company’s stock valued at $25,565,000 after buying an additional 840 shares during the last quarter. Blue Trust Inc. increased its holdings in Marathon Petroleum by 74.8% in the 3rd quarter. Blue Trust Inc. now owns 6,175 shares of the oil and gas company’s stock worth $1,071,000 after buying an additional 2,642 shares during the period. Capital Investment Advisors LLC increased its holdings in Marathon Petroleum by 5.2% in the 3rd quarter. Capital Investment Advisors LLC now owns 7,073 shares of the oil and gas company’s stock worth $1,152,000 after buying an additional 352 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Marathon Petroleum by 35.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 158,392 shares of the oil and gas company’s stock worth $25,804,000 after buying an additional 41,131 shares during the period. Finally, McClarren Financial Advisors Inc. increased its holdings in Marathon Petroleum by 77.5% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 307 shares of the oil and gas company’s stock worth $50,000 after buying an additional 134 shares during the period. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Up 1.3 %

Shares of NYSE:MPC opened at $156.11 on Tuesday. The company has a market capitalization of $50.17 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 2.91 and a beta of 1.41. 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 price of $146.00 and a 200 day moving average price of $156.79. Marathon Petroleum Co. has a 12-month low of $130.54 and a 12-month high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its quarterly 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. The company had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.98 earnings per share. Sell-side analysts expect that Marathon Petroleum Co. will post 8.7 EPS for the current year.

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

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th will be paid a dividend of $0.91 per share. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a yield of 2.33%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 36.66%.

Insiders Place Their Bets

In other news, Director Jeffrey C. Campbell bought 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were purchased at an average cost of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the purchase, the director now 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on MPC. Barclays cut their price target on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Wells Fargo & Company raised their price objective on shares of Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Mizuho dropped their price objective on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Raymond James raised their price objective on shares of Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 17th. Finally, Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $181.27.

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.