Gradient Investments LLC Decreases Stake in Marathon Petroleum Co. (NYSE:MPC)

Gradient Investments LLC lessened its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 4.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,139 shares of the oil and gas company’s stock after selling 184 shares during the period. Gradient Investments LLC’s holdings in Marathon Petroleum were worth $577,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP boosted its position in Marathon Petroleum by 342.1% in the third quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock valued at $911,274,000 after buying an additional 4,328,470 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Marathon Petroleum by 19,153.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company’s stock valued at $213,605,000 after acquiring an additional 1,304,372 shares during the period. ING Groep NV purchased a new stake in shares of Marathon Petroleum in the 3rd quarter valued at $114,107,000. National Bank of Canada FI increased its stake in shares of Marathon Petroleum by 212.9% in the third quarter. National Bank of Canada FI now owns 846,756 shares of the oil and gas company’s stock worth $137,945,000 after acquiring an additional 576,119 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Marathon Petroleum by 1,204.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock worth $75,757,000 after purchasing an additional 501,441 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 1.9 %

MPC stock opened at $151.43 on Friday. The stock has a market capitalization of $48.67 billion, a P/E ratio of 12.00, a P/E/G ratio of 2.88 and a beta of 1.42. Marathon Petroleum Co. has a 52 week low of $130.54 and a 52 week high of $221.11. The firm has a 50-day simple moving average of $147.18 and a 200-day simple moving average of $158.58. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, topping the consensus estimate of $0.97 by $0.90. The company had revenue of $35.37 billion during the quarter, compared to analyst estimates of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. Marathon Petroleum’s quarterly revenue was down 14.9% on a year-over-year basis. During the same period in the previous year, the business earned $8.14 EPS. Equities analysts forecast that Marathon Petroleum Co. will post 8.88 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.40%. The ex-dividend date was Wednesday, November 20th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s payout ratio is 28.84%.

Marathon Petroleum declared that its Board of Directors has authorized a stock buyback program on Tuesday, November 5th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have commented on MPC. Barclays lowered their price target on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. JPMorgan Chase & Co. dropped their target price on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Mizuho decreased their price target on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Wells Fargo & Company dropped their price objective on shares of Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. Finally, Raymond James lifted their target price on shares of Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $181.20.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell purchased 6,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were purchased at an average cost of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the transaction, the director now owns 6,090 shares of the company’s stock, valued at $911,124.90. The trade was a 6,666.67 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through 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.