Allegiance Financial Group Advisory Services LLC Has $600,000 Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Allegiance Financial Group Advisory Services LLC grew its position in Marathon Petroleum Co. (NYSE:MPC) by 19.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,302 shares of the oil and gas company’s stock after purchasing an additional 699 shares during the period. Allegiance Financial Group Advisory Services LLC’s holdings in Marathon Petroleum were worth $600,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MPC. Gladius Capital Management LP bought a new stake in shares of Marathon Petroleum during the third quarter worth $26,000. MeadowBrook Investment Advisors LLC increased 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 acquiring an additional 80 shares in the last quarter. True Wealth Design LLC increased 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 acquiring an additional 148 shares in the last quarter. Asset Planning Inc bought a new stake in shares of Marathon Petroleum during the fourth quarter worth $28,000. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Marathon Petroleum during the third quarter worth $30,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Price Performance

Shares of Marathon Petroleum stock opened at $146.23 on Thursday. Marathon Petroleum Co. has a twelve month low of $130.54 and a twelve month high of $221.11. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The company has a 50-day simple moving average of $147.49 and a two-hundred day simple moving average of $156.00. The stock has a market capitalization of $47.00 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 3.11 and a beta of 1.41.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, topping 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 business had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $31.94 billion. During the same quarter in the previous year, the company earned $3.98 EPS. The business’s revenue was down 9.1% on a year-over-year basis. Analysts forecast that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum declared that its board has approved a stock repurchase plan on Tuesday, November 5th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.49%. The ex-dividend date is Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio is currently 36.66%.

Insider Buying and Selling at Marathon Petroleum

In other news, Director Jeffrey C. Campbell bought 6,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were purchased at an average cost of $149.61 per share, with a total value of $897,660.00. Following the acquisition, 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MPC shares. Wells Fargo & Company increased their price objective on shares of Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Mizuho decreased their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Tudor Pickering raised shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. TD Cowen reaffirmed a “buy” rating and issued a $170.00 target price on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Finally, Raymond James lifted their price objective on shares of Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $181.27.

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.