Mission Wealth Management LP Grows Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Mission Wealth Management LP grew its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,756 shares of the oil and gas company’s stock after purchasing an additional 67 shares during the period. Mission Wealth Management LP’s holdings in Marathon Petroleum were worth $1,299,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brookstone Capital Management grew its position in shares of Marathon Petroleum by 218.5% during the third quarter. Brookstone Capital Management now owns 11,853 shares of the oil and gas company’s stock worth $1,812,000 after buying an additional 8,131 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in Marathon Petroleum by 4.7% in the third quarter. Commonwealth Equity Services LLC now owns 129,609 shares of the oil and gas company’s stock worth $19,615,000 after purchasing an additional 5,802 shares in the last quarter. Simon Quick Advisors LLC increased its holdings in Marathon Petroleum by 40.1% in the third quarter. Simon Quick Advisors LLC now owns 2,453 shares of the oil and gas company’s stock valued at $371,000 after buying an additional 702 shares during the last quarter. Stratos Wealth Partners LTD. raised its stake in Marathon Petroleum by 54.5% during the third quarter. Stratos Wealth Partners LTD. now owns 21,370 shares of the oil and gas company’s stock valued at $3,234,000 after buying an additional 7,539 shares in the last quarter. Finally, Stratos Wealth Advisors LLC grew its position in shares of Marathon Petroleum by 1.5% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 7,009 shares of the oil and gas company’s stock worth $1,061,000 after acquiring an additional 106 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Kim K.W. Rucker sold 1,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 23,446 shares of the company’s stock, valued at approximately $3,994,026.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.21% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $178.97 on Thursday. The firm has a market cap of $64.49 billion, a P/E ratio of 8.94, a PEG ratio of 1.48 and a beta of 1.55. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.59 and a quick ratio of 1.13. Marathon Petroleum Co. has a fifty-two week low of $104.32 and a fifty-two week high of $221.11. The stock’s 50-day moving average is $193.61 and its two-hundred day moving average is $167.76.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.25. The firm had revenue of $32.71 billion for the quarter, compared to analyst estimates of $32.07 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.44%. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter last year, the firm earned $6.09 earnings per share. Analysts predict that Marathon Petroleum Co. will post 20.49 earnings per share for the current fiscal year.

Marathon Petroleum announced that its Board of Directors has initiated a stock buyback plan on Tuesday, April 30th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to purchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio is presently 16.48%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Raymond James boosted their target price on shares of Marathon Petroleum from $175.00 to $185.00 and gave the company a “strong-buy” rating in a research note on Wednesday, January 31st. Barclays boosted their price objective on Marathon Petroleum from $168.00 to $221.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. StockNews.com upgraded Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. The Goldman Sachs Group increased their price objective on shares of Marathon Petroleum from $175.00 to $211.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, Citigroup started coverage on shares of Marathon Petroleum in a research report on Wednesday, January 24th. They issued a “neutral” rating for the company. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and an average target price of $193.77.

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.