Princeton Global Asset Management LLC Has $3.43 Million Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Princeton Global Asset Management LLC lifted its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 0.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 24,551 shares of the oil and gas company’s stock after purchasing an additional 131 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Marathon Petroleum were worth $3,425,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Gladius Capital Management LP bought a new stake in Marathon Petroleum in the 3rd quarter valued at $26,000. MeadowBrook Investment Advisors LLC increased its stake in Marathon Petroleum by 88.9% in the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 80 shares during the period. True Wealth Design LLC raised its position in Marathon Petroleum by 672.7% in 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 in the last quarter. Harbor Capital Advisors Inc. bought a new position in Marathon Petroleum during the third quarter worth about $30,000. Finally, Darwin Wealth Management LLC bought a new stake in shares of Marathon Petroleum in the 3rd quarter valued at approximately $33,000. 76.77% of the stock is currently owned by institutional investors.

Insider Activity at Marathon Petroleum

In other news, Director Jeffrey C. Campbell purchased 6,000 shares of Marathon Petroleum stock in a transaction dated Wednesday, December 4th. The shares were bought 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 $911,124.90. This trade represents a 6,666.67 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

Marathon Petroleum Price Performance

Shares of MPC stock opened at $145.37 on Monday. 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 12 month low of $130.54 and a 12 month high of $221.11. The firm has a market cap of $46.72 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 2.77 and a beta of 1.41. The stock has a 50-day moving average price of $146.26 and a 200 day moving average price of $158.02.

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 for the quarter, topping analysts’ consensus estimates of $0.97 by $0.90. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The business had revenue of $35.37 billion during the quarter, compared to the consensus estimate of $34.34 billion. During the same period in the previous year, the firm posted $8.14 earnings per share. Marathon Petroleum’s revenue for the quarter was down 14.9% compared to the same quarter last year. Research analysts expect that Marathon Petroleum Co. will post 8.88 EPS for the current year.

Marathon Petroleum declared that its board has authorized a stock buyback program on Tuesday, November 5th that allows the company to buyback $5.00 billion in outstanding 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 typically an indication that the company’s management believes its stock is undervalued.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th will be given a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.64 annualized dividend and a dividend yield of 2.50%. Marathon Petroleum’s dividend payout ratio is currently 28.84%.

Wall Street Analysts Forecast Growth

MPC has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased their price target on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Raymond James upped their target price on shares of Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a report on Friday, January 17th. TD Cowen reissued a “buy” rating and set a $170.00 price target on shares of Marathon Petroleum in a report on Tuesday, December 10th. Wells Fargo & Company decreased their price objective on shares of Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. Finally, Scotiabank reduced their target price on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $181.20.

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.