Resolute Wealth Strategies LLC Sells 170 Shares of Marathon Petroleum Co. (NYSE:MPC)

Resolute Wealth Strategies LLC cut its stake in Marathon Petroleum Co. (NYSE:MPC) by 7.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,202 shares of the oil and gas company’s stock after selling 170 shares during the period. Resolute Wealth Strategies LLC’s holdings in Marathon Petroleum were worth $307,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MPC. Gladius Capital Management LP bought a new position in shares of Marathon Petroleum during the 3rd quarter worth about $26,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Marathon Petroleum during the 4th quarter worth about $27,000. MeadowBrook Investment Advisors LLC lifted its holdings in shares of 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 worth $28,000 after acquiring an additional 80 shares during the period. True Wealth Design LLC lifted its holdings in shares of 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 acquiring an additional 148 shares during the period. Finally, Asset Planning Inc bought a new position in shares of Marathon Petroleum during the 4th quarter worth about $28,000. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Trading Down 2.9 %

MPC opened at $145.75 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $46.84 billion, a PE ratio of 14.68, a PEG ratio of 3.11 and a beta of 1.41. Marathon Petroleum Co. has a 1-year low of $130.54 and a 1-year high of $221.11. The firm has a 50-day moving average price of $148.39 and a two-hundred day moving average price of $155.21.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.71. The firm had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $31.94 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. During the same quarter last year, the company posted $3.98 EPS. The company’s quarterly revenue 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 fiscal year.

Marathon Petroleum declared that its Board of Directors has initiated a share buyback program 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 buy up to 10% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Marathon Petroleum Dividend Announcement

The firm 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 dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio is presently 36.66%.

Insider Buying and Selling at Marathon Petroleum

In related news, Director Jeffrey C. Campbell bought 6,000 shares of Marathon Petroleum stock in a transaction on Wednesday, December 4th. The shares were purchased at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the acquisition, the director now owns 6,090 shares in the company, valued at approximately $911,124.90. This represents a 6,666.67 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised 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. Tudor Pickering raised shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. 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. Barclays cut their price target 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. Finally, Mizuho cut their price target 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $181.27.

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.