Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Arkadios Wealth Advisors

Arkadios Wealth Advisors cut its stake in Marathon Petroleum Co. (NYSE:MPC) by 4.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,791 shares of the oil and gas company’s stock after selling 434 shares during the period. Arkadios Wealth Advisors’ holdings in Marathon Petroleum were worth $1,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Assenagon Asset Management S.A. grew its holdings in Marathon Petroleum by 1,204.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock valued at $75,757,000 after buying an additional 501,441 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of Marathon Petroleum by 27.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company’s stock valued at $7,033,000 after acquiring an additional 9,355 shares during the last quarter. Wilmington Savings Fund Society FSB grew its holdings in shares of Marathon Petroleum by 747.3% in the third quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company’s stock valued at $3,466,000 after purchasing an additional 18,764 shares during the period. Holistic Planning LLC acquired a new stake in Marathon Petroleum during the third quarter worth about $912,000. Finally, World Investment Advisors LLC raised 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 purchasing an additional 68,147 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Buying and Selling

In other news, Director Jeffrey C. Campbell acquired 6,000 shares of Marathon Petroleum stock in a transaction that occurred on Wednesday, December 4th. The shares were acquired at an average price of $149.61 per share, with a total value 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.21% of the stock is currently owned by company insiders.

Marathon Petroleum Stock Performance

Shares of MPC opened at $152.83 on Monday. The company has a market capitalization of $49.12 billion, a PE ratio of 12.11, a P/E/G ratio of 2.51 and a beta of 1.42. Marathon Petroleum Co. has a 52-week low of $130.54 and a 52-week high of $221.11. The company has a 50-day simple moving average of $147.76 and a 200-day simple moving average of $159.21. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share 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 company had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. During the same quarter in the prior year, the company earned $8.14 earnings per share. Marathon Petroleum’s revenue was down 14.9% compared to the same quarter last year. Equities research analysts predict that Marathon Petroleum Co. will post 9.38 earnings per share for the current fiscal year.

Marathon Petroleum announced that its Board of Directors has initiated a stock buyback plan on Tuesday, November 5th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th were paid a dividend of $0.91 per share. The ex-dividend date was Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.38%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio (DPR) is presently 28.84%.

Analyst Ratings Changes

A number of analysts have recently issued reports on MPC shares. Wells Fargo & Company cut their price target on shares of Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Mizuho cut their target price on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. TD Cowen reaffirmed a “buy” rating and issued a $170.00 price target on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Barclays cut their price objective on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Finally, Citigroup decreased their target price on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.20.

About Marathon Petroleum

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.