Resolute Wealth Strategies LLC Sells 250 Shares of Marathon Petroleum Co. (NYSE:MPC)

Resolute Wealth Strategies LLC reduced its holdings in Marathon Petroleum Co. (NYSE:MPC) by 9.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,328 shares of the oil and gas company’s stock after selling 250 shares during the period. Resolute Wealth Strategies LLC’s holdings in Marathon Petroleum were worth $345,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Marathon Petroleum during the fourth quarter valued at $25,000. Bruce G. Allen Investments LLC purchased a new position in Marathon Petroleum during the 4th quarter valued at $32,000. Bare Financial Services Inc bought a new position in Marathon Petroleum in the 4th quarter valued at $32,000. Pittenger & Anderson Inc. purchased a new stake in Marathon Petroleum in the fourth quarter worth $36,000. Finally, Tennessee Valley Asset Management Partners bought a new stake in shares of Marathon Petroleum during the fourth quarter worth $40,000. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Stock Performance

MPC traded down $0.40 during trading on Friday, reaching $182.55. 1,868,555 shares of the company’s stock were exchanged, compared to its average volume of 2,394,157. The company’s fifty day simple moving average is $194.18 and its 200-day simple moving average is $168.09. The stock has a market capitalization of $64.32 billion, a P/E ratio of 9.12, a price-to-earnings-growth ratio of 1.52 and a beta of 1.55. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 1.13. Marathon Petroleum Co. has a 1 year low of $104.32 and a 1 year high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.53 by $0.25. The company had revenue of $32.71 billion for the quarter, compared to analyst estimates of $32.07 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The firm’s revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the company earned $6.09 earnings per share. As a group, research analysts predict that Marathon Petroleum Co. will post 19.96 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 1.81%. The ex-dividend date is Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio is currently 16.48%.

Marathon Petroleum declared that its board has authorized a share repurchase program on Tuesday, April 30th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the oil and gas company to reacquire up to 7.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages recently weighed in on MPC. Piper Sandler lifted their price objective on shares of Marathon Petroleum from $159.00 to $204.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Mizuho lowered their target price on Marathon Petroleum from $202.00 to $200.00 and set a “neutral” rating for the company in a report on Thursday. Scotiabank lifted their price objective on shares of Marathon Petroleum from $175.00 to $207.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. The Goldman Sachs Group lifted their price target on shares of Marathon Petroleum from $175.00 to $211.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, Citigroup assumed coverage on Marathon Petroleum in a report on Wednesday, January 24th. They set a “neutral” rating for the company. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $193.62.

Insider Buying and Selling at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 1,000 shares of Marathon Petroleum stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $170.35, for a total transaction of $170,350.00. Following the completion of the transaction, the director now directly owns 23,446 shares of the company’s stock, valued at approximately $3,994,026.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.21% of the stock is currently owned by corporate insiders.

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.