Salem Investment Counselors Inc. Buys 134 Shares of Marathon Petroleum Co. (NYSE:MPC)

Salem Investment Counselors Inc. lifted its stake in Marathon Petroleum Co. (NYSE:MPC) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,122 shares of the oil and gas company’s stock after purchasing an additional 134 shares during the period. Salem Investment Counselors Inc.’s holdings in Marathon Petroleum were worth $575,000 as of its most recent SEC filing.

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

Marathon Petroleum Stock Performance

Shares of MPC opened at $146.83 on Tuesday. The firm has a market capitalization of $47.19 billion, a P/E ratio of 11.63, a PEG ratio of 2.56 and a beta of 1.42. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. Marathon Petroleum Co. has a one year low of $130.54 and a one year high of $221.11. The business has a fifty day moving average of $147.88 and a 200 day moving average of $159.74.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, topping the consensus estimate 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 business’s quarterly revenue was down 14.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $8.14 EPS. As a group, sell-side analysts anticipate that Marathon Petroleum Co. will post 9.47 EPS for the current year.

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

Marathon Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th were given a dividend of $0.91 per share. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.48%. Marathon Petroleum’s payout ratio is presently 28.84%.

Insider Transactions at Marathon Petroleum

In other news, Director Jeffrey C. Campbell bought 6,000 shares of Marathon Petroleum stock in a transaction that occurred on Wednesday, December 4th. The stock was bought at an average cost of $149.61 per share, with a total value of $897,660.00. Following the acquisition, the director now owns 6,090 shares of the company’s stock, valued at $911,124.90. The trade was 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 link. 0.21% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MPC. Bank of America assumed coverage on shares of Marathon Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price target for the company. BMO Capital Markets dropped their price target 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. Piper Sandler reduced their price objective on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Mizuho dropped their target price on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Finally, JPMorgan Chase & Co. reduced their price target on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus price target of $183.73.

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.