Brandywine Global Investment Management LLC Has $54.37 Million Position in Marathon Petroleum Co. (NYSE:MPC)

Brandywine Global Investment Management LLC trimmed its holdings in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 37.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 389,712 shares of the oil and gas company's stock after selling 230,816 shares during the period. Brandywine Global Investment Management LLC owned 0.12% of Marathon Petroleum worth $54,365,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. SWS Partners raised its position in shares of Marathon Petroleum by 19.0% in the fourth quarter. SWS Partners now owns 17,577 shares of the oil and gas company's stock valued at $2,452,000 after purchasing an additional 2,806 shares during the period. Assenagon Asset Management S.A. raised its holdings in Marathon Petroleum by 1,204.8% in the 4th 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 acquiring an additional 501,441 shares during the period. Wilmington Savings Fund Society FSB lifted its position 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 acquiring an additional 18,764 shares during the last quarter. Greatmark Investment Partners Inc. boosted its holdings in shares of Marathon Petroleum by 3.5% during the fourth quarter. Greatmark Investment Partners Inc. now owns 161,171 shares of the oil and gas company's stock worth $22,483,000 after acquiring an additional 5,476 shares during the period. Finally, TCTC Holdings LLC grew its position in shares of Marathon Petroleum by 3.3% in the fourth quarter. TCTC Holdings LLC now owns 91,256 shares of the oil and gas company's stock valued at $12,730,000 after purchasing an additional 2,892 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MPC. Piper Sandler reduced their price target on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. TD Cowen reissued a "buy" rating and issued a $170.00 target price on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Barclays raised their price target on shares of Marathon Petroleum from $159.00 to $161.00 and gave the stock an "overweight" rating in a research report on Friday, March 14th. Wells Fargo & Company raised their target price on shares of Marathon Petroleum from $183.00 to $185.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Finally, Mizuho cut their price target on Marathon Petroleum from $175.00 to $174.00 and set a "neutral" rating for the company in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $180.29.

Insider Buying and Selling

In related news, Director Evan Bayh purchased 1,000 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was bought at an average price of $133.70 per share, with a total value of $133,700.00. Following the completion of the purchase, the director now owns 69,305 shares in the company, valued at approximately $9,266,078.50. This represents a 1.46 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ricky D. Hessling acquired 2,000 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the completion of the purchase, the insider now owns 12,162 shares of the company's stock, valued at $1,638,464.64. This trade represents a 19.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.21% of the stock is owned by corporate insiders.

Marathon Petroleum Price Performance

Shares of MPC traded down $16.52 during mid-day trading on Thursday, reaching $131.38. The company had a trading volume of 1,819,322 shares, compared to its average volume of 2,635,160. The company's 50 day simple moving average is $148.53 and its 200 day simple moving average is $151.21. The company has a market capitalization of $40.93 billion, a price-to-earnings ratio of 13.23, a P/E/G ratio of 3.11 and a beta of 1.39. Marathon Petroleum Co. has a 1-year low of $129.77 and a 1-year high of $221.11. 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 - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) 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 company had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $31.94 billion. During the same period in the prior year, the business earned $3.98 earnings per share. The company's revenue for the quarter was down 9.1% compared to the same quarter last year. Analysts expect that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.77%. The ex-dividend date was Wednesday, February 19th. Marathon Petroleum's dividend payout ratio (DPR) is currently 36.66%.

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.