Oak Harbor Wealth Partners LLC Has $2.02 Million Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Oak Harbor Wealth Partners LLC lowered its holdings in Marathon Petroleum Co. (NYSE:MPC) by 7.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,606 shares of the oil and gas company’s stock after selling 1,103 shares during the quarter. Oak Harbor Wealth Partners LLC’s holdings in Marathon Petroleum were worth $2,019,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Marino Stram & Associates LLC boosted its position in Marathon Petroleum by 0.5% in the fourth quarter. Marino Stram & Associates LLC now owns 11,424 shares of the oil and gas company’s stock valued at $1,695,000 after buying an additional 60 shares in the last quarter. SteelPeak Wealth LLC grew its holdings in Marathon Petroleum by 0.3% during the 4th quarter. SteelPeak Wealth LLC now owns 20,408 shares of the oil and gas company’s stock worth $3,028,000 after acquiring an additional 67 shares during the last quarter. Aaron Wealth Advisors LLC lifted its position in shares of Marathon Petroleum by 4.5% during the fourth quarter. Aaron Wealth Advisors LLC now owns 1,559 shares of the oil and gas company’s stock worth $231,000 after purchasing an additional 67 shares in the last quarter. Mission Wealth Management LP increased its holdings in shares of Marathon Petroleum by 0.8% in the fourth quarter. Mission Wealth Management LP now owns 8,756 shares of the oil and gas company’s stock valued at $1,299,000 after purchasing an additional 67 shares in the last quarter. Finally, Empower Advisory Group LLC raised its position in Marathon Petroleum by 1.6% in the 3rd quarter. Empower Advisory Group LLC now owns 4,465 shares of the oil and gas company’s stock worth $676,000 after purchasing an additional 72 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Raymond James boosted their target price on Marathon Petroleum from $175.00 to $185.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 31st. Scotiabank lifted their price target 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. Wells Fargo & Company increased their price objective on shares of Marathon Petroleum from $214.00 to $227.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Bank of America upped their target price on shares of Marathon Petroleum from $185.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Finally, TD Cowen lifted their price objective on Marathon Petroleum from $168.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $190.77.

Marathon Petroleum Stock Up 0.2 %

Shares of NYSE:MPC traded up $0.36 during midday trading on Thursday, hitting $176.38. The stock had a trading volume of 820,078 shares, compared to its average volume of 2,705,206. The company has a quick ratio of 0.99, a current ratio of 1.43 and a debt-to-equity ratio of 0.85. The business’s 50-day simple moving average is $194.73 and its 200-day simple moving average is $170.71. Marathon Petroleum Co. has a 12 month low of $104.32 and a 12 month high of $221.11. The company has a market cap of $62.14 billion, a P/E ratio of 8.79, a PEG ratio of 1.48 and a beta of 1.55.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.25. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The company had revenue of $32.71 billion for the quarter, compared to analysts’ expectations of $32.07 billion. During the same period in the prior year, the firm earned $6.09 EPS. Marathon Petroleum’s quarterly revenue was down 6.2% compared to the same quarter last year. On average, sell-side analysts forecast that Marathon Petroleum Co. will post 19.88 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Wednesday, May 15th. Marathon Petroleum’s payout ratio is presently 16.48%.

Marathon Petroleum declared that its Board of Directors has approved a stock buyback program on Tuesday, April 30th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the oil and gas company to reacquire up to 7.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity at Marathon Petroleum

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

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.