Arete Wealth Advisors LLC Reduces Holdings in Marathon Petroleum Co. (NYSE:MPC)

Arete Wealth Advisors LLC cut its position in Marathon Petroleum Co. (NYSE:MPC) by 5.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,929 shares of the oil and gas company’s stock after selling 214 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Marathon Petroleum were worth $638,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in MPC. Gladius Capital Management LP bought a new position in Marathon Petroleum during the 3rd quarter valued at $26,000. MeadowBrook Investment Advisors LLC raised 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 in the last quarter. True Wealth Design LLC lifted 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 worth $28,000 after purchasing an additional 148 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in Marathon Petroleum in the third quarter valued at about $30,000. Finally, Darwin Wealth Management LLC acquired a new stake in Marathon Petroleum during the third quarter valued at approximately $33,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MPC shares. Bank of America initiated coverage on Marathon Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price target for the company. TD Cowen reissued a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a report on Tuesday. Morgan Stanley decreased their price target on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Citigroup dropped their price objective on shares of 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, Piper Sandler decreased their target price on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus price target of $185.27.

Insider Activity

In other news, Director Jeffrey C. Campbell bought 6,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now directly 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.21% of the company’s stock.

Marathon Petroleum Stock Down 3.7 %

MPC opened at $146.29 on Friday. The stock’s fifty day moving average is $156.20 and its 200-day moving average is $165.42. Marathon Petroleum Co. has a one year low of $142.57 and a one year high of $221.11. The company has a market capitalization of $47.02 billion, a PE ratio of 11.59, a P/E/G ratio of 2.67 and a beta of 1.39. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23.

Marathon Petroleum (NYSE:MPC) last issued its quarterly 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. 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%. Marathon Petroleum’s revenue for the quarter was down 14.9% compared to the same quarter last year. During the same period in the previous year, the business earned $8.14 earnings per share. On average, equities analysts predict that Marathon Petroleum Co. will post 9.5 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were given a $0.91 dividend. This is a positive change 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 annualized dividend and a yield of 2.49%. Marathon Petroleum’s payout ratio is 28.84%.

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

About Marathon Petroleum

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.