Mader & Shannon Wealth Management Inc. Invests $2.04 Million in Marathon Petroleum Co. (NYSE:MPC)

Mader & Shannon Wealth Management Inc. acquired a new position in shares of Marathon Petroleum Co. (NYSE:MPC) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,504 shares of the oil and gas company’s stock, valued at approximately $2,037,000. Marathon Petroleum accounts for approximately 1.2% of Mader & Shannon Wealth Management Inc.’s holdings, making the stock its 15th biggest holding.

Several other large investors also recently modified their holdings of the company. WR Wealth Planners LLC increased its position in shares of Marathon Petroleum by 15.2% during the second quarter. WR Wealth Planners LLC now owns 431 shares of the oil and gas company’s stock worth $75,000 after buying an additional 57 shares during the period. Legacy Advisors LLC increased its position in shares of Marathon Petroleum by 5.0% during the second quarter. Legacy Advisors LLC now owns 1,238 shares of the oil and gas company’s stock worth $215,000 after buying an additional 59 shares during the period. Latitude Advisors LLC increased its position in shares of Marathon Petroleum by 3.6% during the second quarter. Latitude Advisors LLC now owns 1,714 shares of the oil and gas company’s stock worth $297,000 after buying an additional 60 shares during the period. SouthState Corp increased its position in shares of Marathon Petroleum by 1.5% during the second quarter. SouthState Corp now owns 4,122 shares of the oil and gas company’s stock worth $715,000 after buying an additional 61 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in Marathon Petroleum by 0.9% in the second quarter. EverSource Wealth Advisors LLC now owns 7,165 shares of the oil and gas company’s stock worth $1,268,000 after purchasing an additional 61 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

NYSE MPC opened at $158.48 on Friday. The company has a market capitalization of $50.93 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 2.77 and a beta of 1.38. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The company has a 50-day simple moving average of $158.78 and a 200 day simple moving average of $167.55. Marathon Petroleum Co. has a 52-week low of $140.98 and a 52-week high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, beating 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 company had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. During the same quarter in the previous year, the firm posted $8.14 earnings per share. The company’s quarterly revenue was down 14.9% compared to the same quarter last year. On average, research analysts predict that Marathon Petroleum Co. will post 9.59 EPS for the current year.

Marathon Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.30%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s payout ratio is 28.84%.

Marathon Petroleum announced that its board has authorized a share buyback program 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 reacquire up to 10% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MPC shares. Piper Sandler reduced their price target on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, September 20th. TD Cowen reduced their price target on shares of Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. JPMorgan Chase & Co. reduced their price target on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Mizuho reduced their price target on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Finally, Tudor Pickering cut shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 9th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $185.07.

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.