Country Club Bank Sells 400 Shares of Marathon Petroleum Co. (NYSE:MPC)

Country Club Bank cut its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 9.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,700 shares of the oil and gas company’s stock after selling 400 shares during the period. Country Club Bank’s holdings in Marathon Petroleum were worth $502,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. raised its position in 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 valued at $75,757,000 after purchasing an additional 501,441 shares during the period. Oppenheimer Asset Management Inc. raised its holdings 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 valued at $7,033,000 after buying an additional 9,355 shares during the period. Wilmington Savings Fund Society FSB boosted its stake in Marathon Petroleum by 747.3% during the third quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company’s stock worth $3,466,000 after buying an additional 18,764 shares during the period. Holistic Planning LLC bought a new position in Marathon Petroleum during the third quarter valued at $912,000. Finally, World Investment Advisors LLC raised its stake in shares of Marathon Petroleum by 4,227.5% in the third quarter. World Investment Advisors LLC now owns 69,759 shares of the oil and gas company’s stock valued at $11,364,000 after acquiring an additional 68,147 shares during the period. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Marathon Petroleum

In related news, Director Jeffrey C. Campbell bought 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was purchased at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the acquisition, the director now owns 6,090 shares of the company’s stock, valued at approximately $911,124.90. This trade represents a 6,666.67 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.21% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on MPC. Citigroup cut their target price on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company lifted their target price on Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a research report on Wednesday. Bank of America assumed coverage on shares of Marathon Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price target on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, TD Cowen reaffirmed a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.27.

Marathon Petroleum Trading Up 0.2 %

Shares of MPC opened at $157.22 on Thursday. The firm’s fifty day moving average is $146.07 and its two-hundred day moving average is $157.78. The stock has a market cap of $50.53 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 2.77 and a beta of 1.41. 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 Co. has a 52-week low of $130.54 and a 52-week high of $221.11.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. The company had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The firm’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.98 earnings per share. Research analysts forecast that Marathon Petroleum Co. will post 8.88 earnings per share for the current fiscal year.

Marathon Petroleum declared that its board has authorized a stock repurchase plan on Tuesday, November 5th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the oil and gas company to repurchase up to 10% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Wednesday, February 19th. Marathon Petroleum’s payout ratio is 36.66%.

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.