AlphaStar Capital Management LLC Invests $201,000 in Marathon Petroleum Co. (NYSE:MPC)

AlphaStar Capital Management LLC acquired a new stake in shares of Marathon Petroleum Co. (NYSE:MPC) during the fourth quarter, HoldingsChannel reports. The fund acquired 1,438 shares of the oil and gas company’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MPC. Gladius Capital Management LP purchased a new position in shares of Marathon Petroleum in the 3rd quarter worth $26,000. MeadowBrook Investment Advisors LLC lifted its holdings 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 boosted 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 during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Marathon Petroleum during the 3rd quarter valued at about $30,000. Finally, Darwin Wealth Management LLC purchased a new position in shares of Marathon Petroleum in the third quarter worth approximately $33,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

NYSE MPC opened at $150.13 on Monday. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a twelve month low of $130.54 and a twelve month high of $221.11. The stock has a 50-day moving average of $145.91 and a 200 day moving average of $157.58. The stock has a market capitalization of $48.25 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 2.91 and a beta of 1.41.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results 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 firm had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $31.94 billion. During the same quarter in the prior year, the firm earned $3.98 EPS. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. Sell-side analysts anticipate that Marathon Petroleum Co. will post 8.7 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.42%. The ex-dividend date is Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio is currently 36.66%.

Marathon Petroleum declared that its Board of Directors has approved a share repurchase program on Tuesday, November 5th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

MPC has been the subject of a number of research reports. Mizuho reduced their target price 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. Raymond James raised their target price on Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a report on Friday, January 17th. Wells Fargo & Company boosted their price target on Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Barclays decreased their price objective on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Finally, Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $181.27.

Insider Buying and Selling at Marathon Petroleum

In related news, Director Jeffrey C. Campbell bought 6,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was acquired at an average cost of $149.61 per share, with a total value of $897,660.00. Following the purchase, the director now directly owns 6,090 shares of the company’s stock, valued at $911,124.90. The trade was a 6,666.67 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by 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.