Schechter Investment Advisors LLC Reduces Holdings in Marathon Petroleum Co. (NYSE:MPC)

Schechter Investment Advisors LLC lowered its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 12.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,484 shares of the oil and gas company’s stock after selling 1,242 shares during the period. Schechter Investment Advisors LLC’s holdings in Marathon Petroleum were worth $1,184,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Gladius Capital Management LP acquired a new stake in shares of Marathon Petroleum during the third quarter worth approximately $26,000. MeadowBrook Investment Advisors LLC grew its position in shares of Marathon Petroleum by 88.9% during the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after buying an additional 80 shares in the last quarter. True Wealth Design LLC grew 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 buying an additional 148 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Marathon Petroleum during the third quarter worth approximately $30,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Marathon Petroleum during the fourth quarter worth approximately $27,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of MPC opened at $145.75 on Tuesday. Marathon Petroleum Co. has a 1 year low of $130.54 and a 1 year high of $221.11. The company has a market cap of $46.84 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 3.11 and a beta of 1.41. 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 firm has a fifty day moving average of $148.39 and a 200-day moving average of $155.21.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.71. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The company had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $31.94 billion. During the same quarter in the previous year, the company posted $3.98 earnings per share. The company’s revenue for the quarter was down 9.1% compared to the same quarter last year. As a group, equities analysts anticipate that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum announced that its Board of Directors has authorized a share repurchase plan on Tuesday, November 5th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio is currently 36.66%.

Insider Activity at Marathon Petroleum

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MPC. Tudor Pickering raised shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Mizuho decreased their price objective on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Wells Fargo & Company lifted their price objective on shares of Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. TD Cowen reaffirmed a “buy” rating and issued a $170.00 price objective on shares of Marathon Petroleum in a report on Tuesday, December 10th. Finally, 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 report on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $181.27.

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.