Raleigh Capital Management Inc. Sells 121 Shares of Marathon Petroleum Co. (NYSE:MPC)

Raleigh Capital Management Inc. lessened its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 6.5% in the fourth quarter, HoldingsChannel reports. The fund owned 1,753 shares of the oil and gas company’s stock after selling 121 shares during the period. Raleigh Capital Management Inc.’s holdings in Marathon Petroleum were worth $245,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in MPC. Paragon Capital Management Inc. increased its holdings in shares of Marathon Petroleum by 0.6% in the 2nd quarter. Paragon Capital Management Inc. now owns 10,196 shares of the oil and gas company’s stock worth $1,769,000 after buying an additional 65 shares during the last quarter. Catalyst Financial Partners LLC grew its position in Marathon Petroleum by 1.6% in the third quarter. Catalyst Financial Partners LLC now owns 4,285 shares of the oil and gas company’s stock worth $698,000 after acquiring an additional 67 shares in the last quarter. American Trust increased its stake in Marathon Petroleum by 5.3% in the third quarter. American Trust now owns 1,397 shares of the oil and gas company’s stock valued at $228,000 after acquiring an additional 70 shares during the last quarter. Financial Partners Group LLC raised its position in Marathon Petroleum by 3.3% during the third quarter. Financial Partners Group LLC now owns 2,220 shares of the oil and gas company’s stock valued at $362,000 after purchasing an additional 71 shares in the last quarter. Finally, Oak Harbor Wealth Partners LLC lifted its stake in Marathon Petroleum by 0.6% during the third quarter. Oak Harbor Wealth Partners LLC now owns 12,775 shares of the oil and gas company’s stock worth $2,081,000 after purchasing an additional 73 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on MPC. Wells Fargo & Company cut their target price on Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. TD Cowen reaffirmed a “buy” rating and set a $170.00 target price 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 research report on Monday, November 11th. JPMorgan Chase & Co. decreased their price objective on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, Scotiabank dropped their target price on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $181.20.

Insider Activity

In other Marathon Petroleum news, Director Jeffrey C. Campbell purchased 6,000 shares of Marathon Petroleum stock in a transaction dated 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 in the company, valued at approximately $911,124.90. This trade represents a 6,666.67 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.21% of the company’s stock.

Marathon Petroleum Stock Performance

Marathon Petroleum stock opened at $154.37 on Friday. The company has a market cap of $49.61 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 2.94 and a beta of 1.42. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The company’s 50-day moving average price is $147.38 and its 200-day moving average price is $158.72. Marathon Petroleum Co. has a twelve month low of $130.54 and a twelve month high of $221.11.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.90. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The business had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. During the same quarter last year, the firm posted $8.14 earnings per share. The business’s revenue was down 14.9% compared to the same quarter last year. On average, equities research analysts forecast that Marathon Petroleum Co. will post 8.88 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th were paid a dividend of $0.91 per share. The ex-dividend date was Wednesday, November 20th. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.36%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 28.84%.

Marathon Petroleum declared that its board has initiated a share repurchase program on Tuesday, November 5th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

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.