Cinctive Capital Management LP Decreases Stake in Marathon Petroleum Co. (NYSE:MPC)

Cinctive Capital Management LP lowered its holdings in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 64.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,942 shares of the oil and gas company's stock after selling 79,942 shares during the quarter. Cinctive Capital Management LP's holdings in Marathon Petroleum were worth $6,130,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of Marathon Petroleum by 78.1% during the 4th quarter. Wellington Management Group LLP now owns 9,961,503 shares of the oil and gas company's stock valued at $1,389,630,000 after buying an additional 4,367,774 shares during the last quarter. Norges Bank purchased a new position in Marathon Petroleum during the fourth quarter valued at approximately $453,427,000. Boston Partners lifted its holdings in Marathon Petroleum by 37.4% in the fourth quarter. Boston Partners now owns 3,436,704 shares of the oil and gas company's stock valued at $480,501,000 after acquiring an additional 935,042 shares during the period. Pacer Advisors Inc. boosted its position in Marathon Petroleum by 22.3% in the 4th quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company's stock worth $495,595,000 after purchasing an additional 647,045 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Marathon Petroleum by 212.9% during the 3rd quarter. National Bank of Canada FI now owns 846,756 shares of the oil and gas company's stock valued at $137,945,000 after purchasing an additional 576,119 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company's stock.

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Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MPC shares. Tudor Pickering raised shares of Marathon Petroleum from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 4th. 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. Barclays increased their target price on Marathon Petroleum from $159.00 to $161.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. Raymond James reissued a "strong-buy" rating and issued a $193.00 price target on shares of Marathon Petroleum in a report on Thursday, March 27th. Finally, Piper Sandler dropped their target price on shares of Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $180.29.

Insider Activity at Marathon Petroleum

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

Marathon Petroleum Trading Down 1.6 %

Marathon Petroleum stock traded down $1.88 during trading on Monday, reaching $119.19. 2,292,319 shares of the company were exchanged, compared to its average volume of 2,894,921. Marathon Petroleum Co. has a 52-week low of $115.10 and a 52-week high of $219.74. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The stock's 50 day simple moving average is $147.41 and its two-hundred day simple moving average is $150.58. The company has a market capitalization of $37.13 billion, a P/E ratio of 12.01, a PEG ratio of 3.11 and a beta of 1.04.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, beating the consensus estimate 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 net margin of 2.45% and a return on equity of 12.07%. Marathon Petroleum's revenue was down 9.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.98 EPS. On average, equities research analysts expect that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 19th were given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date was 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.