Baker Tilly Wealth Management LLC Has $263,000 Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Baker Tilly Wealth Management LLC lessened its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 14.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,888 shares of the oil and gas company’s stock after selling 331 shares during the period. Baker Tilly Wealth Management LLC’s holdings in Marathon Petroleum were worth $263,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Gladius Capital Management LP bought a new position in shares of Marathon Petroleum during the third quarter worth about $26,000. MeadowBrook Investment Advisors LLC increased its position in Marathon Petroleum by 88.9% during 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 period. True Wealth Design LLC raised its holdings in Marathon Petroleum by 672.7% during 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. acquired a new position in shares of Marathon Petroleum in the 3rd quarter worth approximately $30,000. Finally, Darwin Wealth Management LLC bought a new stake in shares of Marathon Petroleum in the 3rd quarter valued at $33,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MPC shares. Mizuho dropped their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Barclays cut their target price on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Piper Sandler lowered their target price on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Wells Fargo & Company cut their price target on Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Citigroup lowered their price objective on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $183.73.

Marathon Petroleum Stock Up 0.2 %

MPC stock opened at $142.55 on Friday. The firm has a market capitalization of $45.81 billion, a PE ratio of 11.30, a P/E/G ratio of 2.56 and a beta of 1.42. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a twelve month low of $130.54 and a twelve month high of $221.11. The stock’s 50 day moving average is $147.84 and its 200-day moving average is $160.13.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.90. The business 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%. The business’s revenue for the quarter was down 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.14 EPS. Sell-side analysts expect that Marathon Petroleum Co. will post 9.47 EPS for the current fiscal year.

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 paid a $0.91 dividend. 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 annualized dividend and a yield of 2.55%. Marathon Petroleum’s dividend payout ratio is currently 28.84%.

Marathon Petroleum announced that its Board of Directors has authorized 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 repurchase up to 10% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other Marathon Petroleum news, Director Jeffrey C. Campbell bought 6,000 shares of Marathon Petroleum stock in a transaction that occurred on Wednesday, December 4th. The stock was acquired at an average cost of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the transaction, the director now directly owns 6,090 shares in the company, valued at $911,124.90. This represents a 6,666.67 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.21% of the company’s stock.

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.