Miracle Mile Advisors LLC Invests $1.04 Million in Marathon Petroleum Co. (NYSE:MPC)

Miracle Mile Advisors LLC acquired a new position in Marathon Petroleum Co. (NYSE:MPCFree Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,469 shares of the oil and gas company’s stock, valued at approximately $1,042,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Oppenheimer Asset Management Inc. grew its stake in shares of Marathon Petroleum by 27.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company’s stock worth $7,033,000 after acquiring an additional 9,355 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its stake in Marathon Petroleum by 747.3% during the third quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company’s stock worth $3,466,000 after buying an additional 18,764 shares in the last quarter. Holistic Planning LLC acquired a new stake in Marathon Petroleum during the third quarter worth $912,000. World Investment Advisors LLC boosted its stake in Marathon Petroleum by 4,227.5% during the third quarter. World Investment Advisors LLC now owns 69,759 shares of the oil and gas company’s stock worth $11,364,000 after buying an additional 68,147 shares in the last quarter. Finally, Magnolia Capital Advisors LLC boosted its stake in Marathon Petroleum by 353.4% during the second quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock worth $9,713,000 after buying an additional 43,639 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Buying and Selling at Marathon Petroleum

In related news, Director Jeffrey C. Campbell acquired 6,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were bought at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the purchase, the director now directly owns 6,090 shares in the company, valued at approximately $911,124.90. This trade represents a 6,666.67 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.21% of the company’s stock.

Marathon Petroleum Price Performance

Marathon Petroleum stock 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. Marathon Petroleum Co. has a 1 year low of $130.54 and a 1 year high of $221.11. The firm has a market capitalization of $48.06 billion, a P/E ratio of 11.85, a PEG ratio of 2.56 and a beta of 1.42.

Marathon Petroleum (NYSE:MPCGet Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.90. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The business had revenue of $35.37 billion during the quarter, compared to analyst estimates of $34.34 billion. During the same period in the previous year, the firm earned $8.14 EPS. Marathon Petroleum’s quarterly revenue was down 14.9% compared to the same quarter last year. On average, equities analysts anticipate that Marathon Petroleum Co. will post 9.47 EPS for the current year.

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

Marathon Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were paid a $0.91 dividend. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, November 20th. This represents a $3.64 annualized dividend and a yield of 2.43%. Marathon Petroleum’s payout ratio is presently 28.84%.

Wall Street Analysts Forecast Growth

MPC has been the topic of a number of recent research reports. BMO Capital Markets decreased their price target on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Bank of America initiated coverage on shares of Marathon Petroleum in a research note on Thursday, October 17th. They set a “neutral” rating and a $174.00 price target on the stock. Citigroup decreased 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. Mizuho decreased their price target 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. Finally, Wells Fargo & Company cut their price objective on Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $183.73.

Check Out Our Latest Stock Report on MPC

Marathon Petroleum Company Profile

(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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