Wealthspire Advisors LLC Has $1.38 Million Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Wealthspire Advisors LLC raised its holdings in Marathon Petroleum Co. (NYSE:MPC) by 8.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,270 shares of the oil and gas company’s stock after purchasing an additional 702 shares during the quarter. Wealthspire Advisors LLC’s holdings in Marathon Petroleum were worth $1,375,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Marino Stram & Associates LLC raised its position in shares of Marathon Petroleum by 0.5% in the fourth quarter. Marino Stram & Associates LLC now owns 11,424 shares of the oil and gas company’s stock valued at $1,695,000 after buying an additional 60 shares in the last quarter. SteelPeak Wealth LLC grew its holdings in shares of Marathon Petroleum by 0.3% during the 4th quarter. SteelPeak Wealth LLC now owns 20,408 shares of the oil and gas company’s stock worth $3,028,000 after purchasing an additional 67 shares in the last quarter. Aaron Wealth Advisors LLC increased its position in shares of Marathon Petroleum by 4.5% in the fourth quarter. Aaron Wealth Advisors LLC now owns 1,559 shares of the oil and gas company’s stock worth $231,000 after purchasing an additional 67 shares during the period. Mission Wealth Management LP raised its position in shares of Marathon Petroleum by 0.8% in the 4th quarter. Mission Wealth Management LP now owns 8,756 shares of the oil and gas company’s stock valued at $1,299,000 after buying an additional 67 shares in the last quarter. Finally, Empower Advisory Group LLC lifted its stake in Marathon Petroleum by 1.6% during the third quarter. Empower Advisory Group LLC now owns 4,465 shares of the oil and gas company’s stock worth $676,000 after purchasing an additional 72 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 1.1 %

MPC stock traded up $2.00 on Thursday, reaching $182.93. 1,281,029 shares of the company traded hands, compared to its average volume of 2,736,856. The company has a market cap of $64.45 billion, a P/E ratio of 9.14, a price-to-earnings-growth ratio of 1.52 and a beta of 1.55. The firm has a fifty day simple moving average of $194.86 and a 200-day simple moving average of $168.81. Marathon Petroleum Co. has a one year low of $104.32 and a one year high of $221.11. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 0.99.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.25. The business had revenue of $32.71 billion during the quarter, compared to analyst estimates of $32.07 billion. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the company earned $6.09 EPS. Research analysts anticipate that Marathon Petroleum Co. will post 19.96 earnings per share for the current year.

Marathon Petroleum announced that its Board of Directors has authorized a stock buyback program on Tuesday, April 30th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to purchase up to 7.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Wednesday, May 15th. Marathon Petroleum’s payout ratio is 16.48%.

Insider Transactions at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 1,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $170.35, for a total value of $170,350.00. Following the transaction, the director now directly owns 23,446 shares in the company, valued at approximately $3,994,026.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

MPC has been the topic of a number of recent research reports. Piper Sandler lifted their price target on Marathon Petroleum from $159.00 to $204.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Bank of America lifted their target price on Marathon Petroleum from $185.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Scotiabank lifted their target price on Marathon Petroleum from $175.00 to $207.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. TD Cowen lifted their target price on Marathon Petroleum from $168.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Finally, Citigroup assumed coverage on Marathon Petroleum in a research report on Wednesday, January 24th. They set a “neutral” rating on the stock. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus target price of $191.62.

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.