Portfolio Design Labs LLC Takes Position in Marathon Petroleum Co. (NYSE:MPC)

Portfolio Design Labs LLC acquired a new stake in Marathon Petroleum Co. (NYSE:MPCFree Report) in the 4th quarter, HoldingsChannel reports. The fund acquired 1,870 shares of the oil and gas company’s stock, valued at approximately $277,000.

Several other institutional investors and hedge funds have also modified their holdings of MPC. Marino Stram & Associates LLC increased its stake in shares of Marathon Petroleum by 0.5% in the 4th quarter. Marino Stram & Associates LLC now owns 11,424 shares of the oil and gas company’s stock valued at $1,695,000 after purchasing an additional 60 shares in the last quarter. SteelPeak Wealth LLC increased its stake in shares of Marathon Petroleum by 0.3% in the 4th quarter. SteelPeak Wealth LLC now owns 20,408 shares of the oil and gas company’s stock valued at $3,028,000 after purchasing an additional 67 shares in the last quarter. Aaron Wealth Advisors LLC increased its stake in shares of Marathon Petroleum by 4.5% in the 4th quarter. Aaron Wealth Advisors LLC now owns 1,559 shares of the oil and gas company’s stock valued at $231,000 after purchasing an additional 67 shares in the last quarter. Mission Wealth Management LP increased its stake 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 purchasing an additional 67 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co increased its stake in shares of Marathon Petroleum by 1.9% in the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 4,102 shares of the oil and gas company’s stock valued at $609,000 after purchasing an additional 75 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Buying and Selling

In related news, Director Kim K.W. Rucker sold 1,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 23,446 shares in the company, valued at $3,994,026.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.21% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MPC has been the subject of several recent analyst reports. StockNews.com lowered Marathon Petroleum from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 9th. Mizuho boosted their price objective on Marathon Petroleum from $200.00 to $203.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Raymond James boosted their price objective on Marathon Petroleum from $175.00 to $185.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, January 31st. Scotiabank boosted their price objective on Marathon Petroleum from $175.00 to $207.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Finally, The Goldman Sachs Group boosted their price objective on Marathon Petroleum from $175.00 to $211.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.77.

View Our Latest Research Report on MPC

Marathon Petroleum Price Performance

Shares of NYSE:MPC traded down $5.27 during midday trading on Wednesday, hitting $173.89. The company had a trading volume of 853,991 shares, compared to its average volume of 2,693,770. Marathon Petroleum Co. has a twelve month low of $104.32 and a twelve month 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. The stock has a market cap of $61.27 billion, a price-to-earnings ratio of 8.95, a price-to-earnings-growth ratio of 1.49 and a beta of 1.55. The business’s 50-day simple moving average is $193.50 and its 200-day simple moving average is $171.80.

Marathon Petroleum (NYSE:MPCGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.53 by $0.25. The firm had revenue of $32.71 billion during the quarter, compared to analysts’ expectations of $32.07 billion. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter last year, the firm earned $6.09 earnings per share. On average, research analysts predict that Marathon Petroleum Co. will post 19.88 earnings per share for the current year.

Marathon Petroleum declared that its board has approved a stock repurchase program on Tuesday, April 30th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas company to purchase up to 7.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be given a $0.825 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $3.30 annualized dividend and a yield of 1.90%. Marathon Petroleum’s payout ratio is 16.48%.

About Marathon Petroleum

(Free Report)

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.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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