Summit Global Investments Raises Position in Marathon Petroleum Co. (NYSE:MPC)

Summit Global Investments raised its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 13.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,036 shares of the oil and gas company’s stock after purchasing an additional 237 shares during the period. Summit Global Investments’ holdings in Marathon Petroleum were worth $302,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of MPC. Westover Capital Advisors LLC raised its position in shares of Marathon Petroleum by 5.1% in the fourth quarter. Westover Capital Advisors LLC now owns 3,259 shares of the oil and gas company’s stock valued at $484,000 after purchasing an additional 159 shares during the period. Natixis Advisors L.P. lifted its position in shares of Marathon Petroleum by 9.4% during the fourth quarter. Natixis Advisors L.P. now owns 220,848 shares of the oil and gas company’s stock worth $32,765,000 after acquiring an additional 18,990 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Marathon Petroleum by 8.9% in the fourth quarter. First Horizon Advisors Inc. now owns 1,174 shares of the oil and gas company’s stock worth $174,000 after acquiring an additional 96 shares during the period. Fisher Asset Management LLC grew its position in shares of Marathon Petroleum by 23.1% in the fourth quarter. Fisher Asset Management LLC now owns 7,469 shares of the oil and gas company’s stock valued at $1,108,000 after purchasing an additional 1,404 shares in the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC lifted its holdings in Marathon Petroleum by 19.5% during the 4th quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,310 shares of the oil and gas company’s stock worth $491,000 after purchasing an additional 539 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $182.78 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 1.43. The company has a market capitalization of $64.40 billion, a price-to-earnings ratio of 9.13, a price-to-earnings-growth ratio of 1.52 and a beta of 1.55. Marathon Petroleum Co. has a one year low of $104.32 and a one year high of $221.11. The company’s 50-day moving average is $194.38 and its 200 day moving average is $168.51.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.53 by $0.25. The business had revenue of $32.71 billion for the quarter, compared to the consensus estimate of $32.07 billion. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The company’s revenue was down 6.2% compared to the same quarter last year. During the same period last year, the business posted $6.09 EPS. Sell-side analysts expect that Marathon Petroleum Co. will post 19.96 EPS for the current fiscal year.

Marathon Petroleum announced that its Board of Directors has approved a share repurchase program on Tuesday, April 30th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas company to buy up to 7.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 1,000 shares of the stock in a transaction dated 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 owns 23,446 shares of the company’s stock, valued at $3,994,026.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

MPC has been the subject of a number of recent analyst reports. Raymond James boosted their price target on shares of Marathon Petroleum from $175.00 to $185.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 31st. Barclays lowered their price target on Marathon Petroleum from $221.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday. Mizuho cut their price objective on Marathon Petroleum from $202.00 to $200.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. JPMorgan Chase & Co. raised their target price on shares of Marathon Petroleum from $172.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Finally, Piper Sandler boosted their price target on shares of Marathon Petroleum from $159.00 to $204.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $191.62.

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.