Independent Advisor Alliance Acquires 1,400 Shares of Marathon Petroleum Co. (NYSE:MPC)

Independent Advisor Alliance lifted its stake in Marathon Petroleum Co. (NYSE:MPCFree Report) by 24.3% during the fourth quarter, HoldingsChannel reports. The firm owned 7,165 shares of the oil and gas company’s stock after purchasing an additional 1,400 shares during the period. Independent Advisor Alliance’s holdings in Marathon Petroleum were worth $1,063,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Marathon Petroleum in the fourth quarter worth approximately $25,000. Bruce G. Allen Investments LLC purchased a new stake in Marathon Petroleum in the fourth quarter worth about $32,000. Bare Financial Services Inc purchased a new position in Marathon Petroleum during the 4th quarter valued at about $32,000. Pittenger & Anderson Inc. bought a new stake in shares of Marathon Petroleum in the 4th quarter valued at about $36,000. Finally, Tennessee Valley Asset Management Partners purchased a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Transactions at Marathon Petroleum

In related news, Director Kim K.W. Rucker sold 1,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $170.35, for a total value of $170,350.00. Following the completion of the transaction, the director now directly owns 23,446 shares of the company’s stock, valued at approximately $3,994,026.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on MPC. Wells Fargo & Company upped their target price on Marathon Petroleum from $214.00 to $227.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. JPMorgan Chase & Co. raised their price target on shares of Marathon Petroleum from $172.00 to $186.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Piper Sandler reduced their target price on Marathon Petroleum from $204.00 to $190.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 14th. downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 9th. Finally, Bank of America upped their price target on shares of Marathon Petroleum from $185.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $190.77.

Read Our Latest Stock Report on Marathon Petroleum

Marathon Petroleum Stock Up 2.8 %

Shares of MPC opened at $179.67 on Monday. Marathon Petroleum Co. has a 12 month low of $104.32 and a 12 month high of $221.11. The firm has a market cap of $63.30 billion, a P/E ratio of 8.97, a PEG ratio of 1.53 and a beta of 1.55. The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. The stock’s 50 day moving average is $195.19 and its two-hundred day moving average is $170.35.

Marathon Petroleum (NYSE:MPCGet Free Report) last announced its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.25. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The business had revenue of $32.71 billion for the quarter, compared to analyst estimates of $32.07 billion. During the same quarter last year, the business earned $6.09 earnings per share. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. Analysts predict that Marathon Petroleum Co. will post 19.53 earnings per share for the current fiscal year.

Marathon Petroleum announced that its board has approved a stock repurchase plan on Tuesday, April 30th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 7.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be given a $0.825 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $3.30 annualized dividend and a dividend yield of 1.84%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Marathon Petroleum 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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