Segment Wealth Management LLC Purchases 115 Shares of Marathon Petroleum Co. (NYSE:MPC)

Segment Wealth Management LLC grew its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 2.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,608 shares of the oil and gas company’s stock after buying an additional 115 shares during the period. Segment Wealth Management LLC’s holdings in Marathon Petroleum were worth $782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Assenagon Asset Management S.A. grew its holdings in shares of Marathon Petroleum by 1,204.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock valued at $75,757,000 after purchasing an additional 501,441 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Marathon Petroleum by 27.7% during the third 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 period. Wilmington Savings Fund Society FSB raised its position in Marathon Petroleum by 747.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company’s stock valued at $3,466,000 after purchasing an additional 18,764 shares in the last quarter. Holistic Planning LLC purchased a new stake in Marathon Petroleum in the third quarter worth about $912,000. Finally, World Investment Advisors LLC boosted its stake in shares of Marathon Petroleum by 4,227.5% during the third 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 in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 0.7 %

MPC stock opened at $152.83 on Tuesday. Marathon Petroleum Co. has a 12 month low of $130.54 and a 12 month high of $221.11. The company has a market cap of $49.12 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 2.93 and a beta of 1.42. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The firm has a 50-day moving average of $147.76 and a two-hundred day moving average of $159.10.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.90. The company had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. Marathon Petroleum’s revenue was down 14.9% on a year-over-year basis. During the same period in the previous year, the business posted $8.14 EPS. As a group, analysts forecast that Marathon Petroleum Co. will post 8.88 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The business also recently declared 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. The ex-dividend date was Wednesday, November 20th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.38%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 28.84%.

Marathon Petroleum announced that its board has initiated a share repurchase plan 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 buy up to 10% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. TD Cowen reiterated a “buy” rating and issued a $170.00 target price on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Scotiabank reduced their target price on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Barclays decreased their price objective on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Citigroup lowered their target price 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, Wells Fargo & Company lowered their price target on shares of Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $181.20.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell purchased 6,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was bought at an average price of $149.61 per share, with a total value of $897,660.00. Following the transaction, the director now directly owns 6,090 shares of the company’s stock, valued at approximately $911,124.90. This represents a 6,666.67 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is owned by corporate insiders.

Marathon Petroleum Company 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.