Hussman Strategic Advisors Inc. Grows Position in Marathon Petroleum Co. (NYSE:MPC)

Hussman Strategic Advisors Inc. lifted its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 233.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,000 shares of the oil and gas company’s stock after purchasing an additional 14,700 shares during the quarter. Marathon Petroleum comprises approximately 0.9% of Hussman Strategic Advisors Inc.’s investment portfolio, making the stock its 21st biggest position. Hussman Strategic Advisors Inc.’s holdings in Marathon Petroleum were worth $2,930,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Gladius Capital Management LP purchased a new position in Marathon Petroleum during the 3rd quarter valued at about $26,000. MeadowBrook Investment Advisors LLC boosted its holdings in Marathon Petroleum by 88.9% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 80 shares during the period. True Wealth Design LLC boosted its holdings in Marathon Petroleum by 672.7% during the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 148 shares during the period. Asset Planning Inc purchased a new position in Marathon Petroleum during the 4th quarter valued at about $28,000. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of Marathon Petroleum in the 3rd quarter valued at about $30,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Trading Down 1.4 %

MPC opened at $156.79 on Thursday. The firm has a market cap of $50.39 billion, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 3.13 and a beta of 1.41. Marathon Petroleum Co. has a 52 week low of $130.54 and a 52 week high of $221.11. The business’s 50 day moving average is $146.32 and its two-hundred day moving average is $156.63. 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 released its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.06 by $0.71. The company had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The firm’s revenue was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.98 earnings per share. On average, research analysts predict that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum declared that its board has initiated a share buyback plan on Tuesday, November 5th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 10% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Wednesday, February 19th. Marathon Petroleum’s payout ratio is currently 36.66%.

Insider Activity

In related news, Director Jeffrey C. Campbell bought 6,000 shares of the company’s stock in a transaction dated 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 acquisition, the director now 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MPC shares. Wells Fargo & Company lifted their price objective on Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Raymond James lifted their price objective on Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a research note on Friday, January 17th. Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Barclays cut their target price on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Finally, TD Cowen reissued a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.27.

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.