Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Invst LLC

Invst LLC reduced its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 14.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,842 shares of the oil and gas company’s stock after selling 1,021 shares during the quarter. Invst LLC’s holdings in Marathon Petroleum were worth $952,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Oppenheimer Asset Management Inc. raised its stake in Marathon Petroleum by 27.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company’s stock worth $7,033,000 after acquiring an additional 9,355 shares in the last quarter. Founders Financial Securities LLC increased its position in Marathon Petroleum by 22.8% during the second quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock worth $863,000 after buying an additional 924 shares during the period. Holistic Planning LLC acquired a new stake in shares of Marathon Petroleum in the third quarter valued at approximately $912,000. Magnolia Capital Advisors LLC increased its holdings in shares of Marathon Petroleum by 353.4% in the 2nd quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock valued at $9,713,000 after acquiring an additional 43,639 shares during the period. Finally, Townsquare Capital LLC boosted its stake in Marathon Petroleum by 14.8% during the 3rd quarter. Townsquare Capital LLC now owns 46,365 shares of the oil and gas company’s stock worth $7,553,000 after purchasing an additional 5,972 shares during the period. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on MPC shares. Wells Fargo & Company lifted their price objective on shares of Marathon Petroleum from $183.00 to $186.00 and gave the company an “overweight” rating in a research note on Monday. Barclays dropped their target price on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. BMO Capital Markets lowered their price objective on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Piper Sandler cut their price objective on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Finally, Bank of America initiated coverage on shares of Marathon Petroleum in a research note on Thursday, October 17th. They set a “neutral” rating and a $174.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $185.27.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $151.06 on Wednesday. Marathon Petroleum Co. has a one year low of $141.45 and a one year high of $221.11. The stock has a market cap of $48.55 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 2.65 and a beta of 1.40. The business’s fifty day moving average price is $156.76 and its two-hundred day moving average price is $165.70. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.90. The company had revenue of $35.37 billion for the quarter, compared to analysts’ expectations of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The firm’s revenue for the quarter was down 14.9% compared to the same quarter last year. During the same period last year, the company earned $8.14 EPS. On average, analysts forecast that Marathon Petroleum Co. will post 9.5 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were issued a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a yield of 2.41%. Marathon Petroleum’s payout ratio is 28.84%.

Marathon Petroleum announced that its Board of Directors has initiated a stock buyback plan on Tuesday, November 5th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Marathon Petroleum

In related news, Director Jeffrey C. Campbell bought 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were acquired at an average cost of $149.61 per share, with a total value of $897,660.00. Following the completion of the transaction, the director now owns 6,090 shares of the company’s stock, valued at approximately $911,124.90. The trade was a 6,666.67 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.21% of the company’s stock.

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.