Marathon Petroleum Co. (NYSE:MPC) Shares Bought by Brooklyn Investment Group

Brooklyn Investment Group boosted its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 12.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,655 shares of the oil and gas company’s stock after acquiring an additional 284 shares during the period. Brooklyn Investment Group’s holdings in Marathon Petroleum were worth $370,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Gladius Capital Management LP bought a new stake in shares of Marathon Petroleum in the 3rd quarter worth about $26,000. MeadowBrook Investment Advisors LLC lifted its position in 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 last quarter. True Wealth Design LLC grew its position in Marathon Petroleum by 672.7% in the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 148 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Marathon Petroleum during the third quarter valued at approximately $30,000. Finally, Darwin Wealth Management LLC bought a new stake in Marathon Petroleum during the 3rd quarter valued at $33,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Activity

In related news, Director Jeffrey C. Campbell acquired 6,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were acquired at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the purchase, the director now owns 6,090 shares in the company, valued at approximately $911,124.90. The trade was a 6,666.67 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.21% of the stock is currently owned by company insiders.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $152.83 on Friday. The firm has a market cap of $49.12 billion, a P/E ratio of 12.11, a PEG ratio of 2.51 and a beta of 1.42. The stock’s 50-day moving average is $147.78 and its two-hundred day moving average is $159.47. Marathon Petroleum Co. has a fifty-two week low of $130.54 and a fifty-two week high of $221.11. 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 (NYSE:MPC) last posted its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, topping the consensus estimate of $0.97 by $0.90. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The firm had revenue of $35.37 billion for the quarter, compared to the consensus estimate of $34.34 billion. During the same period in the prior year, the business posted $8.14 earnings per share. The business’s quarterly revenue was down 14.9% on a year-over-year basis. Analysts predict that Marathon Petroleum Co. will post 9.38 earnings per share for the current fiscal year.

Marathon Petroleum announced that its board has initiated a stock repurchase program 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 purchase up to 10% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Marathon Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were given a dividend of $0.91 per share. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a yield of 2.38%. Marathon Petroleum’s payout ratio is currently 28.84%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MPC shares. Raymond James increased their target price on shares of Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a research report on Friday. Wells Fargo & Company lowered their price objective on shares of Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. Mizuho cut their target price on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Citigroup dropped their price objective on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Finally, Bank of America initiated coverage on Marathon Petroleum in a report on Thursday, October 17th. They set a “neutral” rating and a $174.00 target price 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 given a strong buy rating to the stock. According to data from MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.20.

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.