Burns J W & Co. Inc. NY Has $915,000 Holdings in Marathon Petroleum Co. (NYSE:MPC)

Burns J W & Co. Inc. NY lifted its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 8.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,560 shares of the oil and gas company’s stock after purchasing an additional 510 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in Marathon Petroleum were worth $915,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Oppenheimer Asset Management Inc. boosted its holdings in 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 worth $7,033,000 after acquiring an additional 9,355 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in Marathon Petroleum by 747.3% during the third quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company’s stock worth $3,466,000 after purchasing an additional 18,764 shares during the last quarter. Holistic Planning LLC bought a new stake in Marathon Petroleum in the 3rd quarter worth about $912,000. World Investment Advisors LLC grew its stake in Marathon Petroleum by 4,227.5% in the 3rd quarter. World Investment Advisors LLC now owns 69,759 shares of the oil and gas company’s stock valued at $11,364,000 after purchasing an additional 68,147 shares during the period. Finally, Magnolia Capital Advisors LLC raised its stake in shares of Marathon Petroleum by 353.4% during the 2nd quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock worth $9,713,000 after purchasing an additional 43,639 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 3.2 %

MPC stock traded up $4.56 during midday trading on Monday, hitting $146.83. The company had a trading volume of 3,644,641 shares, compared to its average volume of 3,123,738. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a 52 week low of $130.54 and a 52 week high of $221.11. The stock’s 50 day moving average price is $147.84 and its 200 day moving average price is $159.92. The stock has a market cap of $47.19 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 2.56 and a beta of 1.42.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.90. The firm had revenue of $35.37 billion for the quarter, compared to analysts’ expectations of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The company’s revenue for the quarter was down 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $8.14 earnings per share. As a group, equities research analysts expect that Marathon Petroleum Co. will post 9.47 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were issued a $0.91 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $3.64 annualized dividend and a yield of 2.48%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio (DPR) is 28.84%.

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

Analysts Set New Price Targets

MPC has been the topic of several research analyst reports. TD Cowen reiterated a “buy” rating and issued a $170.00 price objective on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Wells Fargo & Company decreased their target price on shares of Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating on the stock in a report on Friday. Citigroup reduced their price target on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a research report on Thursday, October 10th. BMO Capital Markets lowered their price objective on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Finally, Bank of America began coverage on Marathon Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.73.

Insider Transactions at Marathon Petroleum

In related news, Director Jeffrey C. Campbell acquired 6,000 shares of Marathon Petroleum stock in a transaction on Wednesday, December 4th. The shares were acquired at an average cost of $149.61 per share, with a total value of $897,660.00. Following the transaction, the director now owns 6,090 shares in the company, valued at $911,124.90. This trade represents a 6,666.67 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.21% of the company’s stock.

Marathon Petroleum 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.