Marathon Petroleum Co. (NYSE:MPC) Shares Bought by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC boosted its stake in Marathon Petroleum Co. (NYSE:MPC) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 59,254 shares of the oil and gas company’s stock after purchasing an additional 1,348 shares during the quarter. Marathon Petroleum comprises 1.6% of Alpha Omega Wealth Management LLC’s portfolio, making the stock its 13th largest position. Alpha Omega Wealth Management LLC’s holdings in Marathon Petroleum were worth $8,266,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Gladius Capital Management LP purchased a new stake in shares of Marathon Petroleum during the 3rd quarter worth about $26,000. MeadowBrook Investment Advisors LLC lifted its position in Marathon Petroleum by 88.9% during the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 80 shares in the last quarter. True Wealth Design LLC grew its stake in Marathon Petroleum by 672.7% during the third quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after buying an additional 148 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of Marathon Petroleum in the third quarter worth $30,000. Finally, Darwin Wealth Management LLC acquired a new position in shares of Marathon Petroleum during the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insiders Place Their Bets

In other Marathon Petroleum news, Director Jeffrey C. Campbell purchased 6,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were bought at an average price of $149.61 per share, with a total value of $897,660.00. Following the completion of the acquisition, the director now owns 6,090 shares in the company, valued at approximately $911,124.90. This represents a 6,666.67 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.21% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MPC shares. Citigroup lowered their price target on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. BMO Capital Markets dropped their target price on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. TD Cowen restated a “buy” rating and issued a $170.00 price target on shares of Marathon Petroleum in a report on Tuesday, December 10th. Mizuho dropped their price objective 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, Raymond James upped their target price on shares of Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a research note on Friday, January 17th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus target price of $181.20.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $145.37 on Friday. 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 company has a market capitalization of $46.72 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 2.88 and a beta of 1.42. Marathon Petroleum Co. has a twelve month low of $130.54 and a twelve month high of $221.11. The business has a 50 day simple moving average of $146.26 and a 200-day simple moving average of $158.08.

Marathon Petroleum (NYSE:MPC) last released 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 net margin of 3.15% and a return on equity of 16.19%. The firm had revenue of $35.37 billion during the quarter, compared to analyst estimates of $34.34 billion. During the same quarter in the previous year, the firm earned $8.14 earnings per share. The firm’s revenue for the quarter was down 14.9% compared to the same quarter last year. As a group, equities research analysts expect that Marathon Petroleum Co. will post 8.88 earnings per share for the current year.

Marathon Petroleum declared that its Board of Directors has initiated a share buyback program on Tuesday, November 5th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the oil and gas company to buy up to 10% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be paid a dividend of $0.91 per share. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a yield of 2.50%. Marathon Petroleum’s payout ratio is currently 28.84%.

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.