Soltis Investment Advisors LLC Buys New Shares in Marathon Petroleum Co. (NYSE:MPC)

Soltis Investment Advisors LLC acquired a new stake in shares of Marathon Petroleum Co. (NYSE:MPCFree Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 19,664 shares of the oil and gas company’s stock, valued at approximately $2,976,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of MPC. Moneta Group Investment Advisors LLC raised its position in shares of Marathon Petroleum by 121,130.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,942,426 shares of the oil and gas company’s stock worth $458,859,000 after purchasing an additional 3,939,174 shares during the period. Norges Bank acquired a new stake in shares of Marathon Petroleum during the 4th quarter worth approximately $453,190,000. Arrowstreet Capital Limited Partnership raised its position in shares of Marathon Petroleum by 22,119.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,227,468 shares of the oil and gas company’s stock worth $190,449,000 after purchasing an additional 2,217,443 shares during the period. Bank of Montreal Can acquired a new stake in shares of Marathon Petroleum during the 2nd quarter worth approximately $132,795,000. Finally, Point72 Asset Management L.P. raised its position in shares of Marathon Petroleum by 246.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,216,688 shares of the oil and gas company’s stock worth $141,866,000 after purchasing an additional 865,418 shares during the period. Institutional investors and hedge funds own 74.93% of the company’s stock.

Insider Transactions at Marathon Petroleum

In other news, VP Carl Kristopher Hagedorn sold 1,436 shares of Marathon Petroleum stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $146.81, for a total value of $210,819.16. Following the transaction, the vice president now directly owns 5,480 shares in the company, valued at $804,518.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.28% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on MPC. Barclays increased their price target on Marathon Petroleum from $163.00 to $168.00 and gave the company an “overweight” rating in a research note on Monday. Wells Fargo & Company raised Marathon Petroleum from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $159.00 to $169.00 in a research note on Thursday, December 14th. Morgan Stanley raised their price objective on Marathon Petroleum from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 17th. Raymond James increased their target price on Marathon Petroleum from $175.00 to $185.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 31st. Finally, TD Cowen increased their target price on Marathon Petroleum from $168.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $163.00.

Read Our Latest Stock Report on Marathon Petroleum

Marathon Petroleum Stock Up 0.0 %

MPC traded up $0.08 during trading on Monday, reaching $166.41. 405,309 shares of the stock traded hands, compared to its average volume of 3,019,262. The stock has a market cap of $63.19 billion, a price-to-earnings ratio of 7.07, a price-to-earnings-growth ratio of 1.92 and a beta of 1.51. Marathon Petroleum Co. has a fifty-two week low of $104.32 and a fifty-two week high of $171.42. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.67 and a quick ratio of 1.20. The stock’s 50-day simple moving average is $152.81 and its two-hundred day simple moving average is $148.48.

Marathon Petroleum (NYSE:MPCGet Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The oil and gas company reported $3.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $1.77. Marathon Petroleum had a return on equity of 30.21% and a net margin of 6.44%. The company had revenue of $36.26 billion during the quarter, compared to analysts’ expectations of $34.90 billion. During the same quarter in the previous year, the firm earned $6.65 earnings per share. The business’s quarterly revenue was down 8.9% compared to the same quarter last year. As a group, equities research analysts expect that Marathon Petroleum Co. will post 14.47 EPS for the current year.

Marathon Petroleum announced that its board has authorized a stock repurchase plan on Wednesday, October 25th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to purchase up to 8.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 11th. Shareholders of record on Wednesday, February 21st will be given a $0.825 dividend. The ex-dividend date is Tuesday, February 20th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.98%. Marathon Petroleum’s dividend payout ratio is currently 14.02%.

About Marathon Petroleum

(Free Report)

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. 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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