Convergence Investment Partners LLC Sells 4,547 Shares of Marathon Petroleum Co. (NYSE:MPC)

Convergence Investment Partners LLC lowered its stake in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 70.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,944 shares of the oil and gas company's stock after selling 4,547 shares during the quarter. Convergence Investment Partners LLC's holdings in Marathon Petroleum were worth $271,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its stake 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 worth $75,757,000 after purchasing an additional 501,441 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Marathon Petroleum by 27.7% in 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 acquiring an additional 9,355 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its stake in shares of Marathon Petroleum by 747.3% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company's stock valued at $3,466,000 after acquiring an additional 18,764 shares during the last quarter. Holistic Planning LLC bought a new position in shares of Marathon Petroleum in the 3rd quarter valued at $912,000. Finally, World Investment Advisors LLC lifted its stake in shares of Marathon Petroleum by 4,227.5% in the 3rd 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 last quarter. Institutional investors and hedge funds own 76.77% of the company's stock.

Insider Activity

In other news, Director Jeffrey C. Campbell purchased 6,000 shares of Marathon Petroleum stock in a transaction dated Wednesday, December 4th. The stock was purchased at an average cost of $149.61 per share, for a total transaction of $897,660.00. Following the transaction, the director now directly 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 purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

MPC has been the subject of a number of research reports. Mizuho dropped 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 lowered their target price on Marathon Petroleum from $168.00 to $159.00 and set an "overweight" rating for the company in a research report on Monday, November 11th. Wells Fargo & Company increased their price target on Marathon Petroleum from $182.00 to $183.00 and gave the stock an "overweight" rating in a report on Wednesday, February 5th. Tudor Pickering upgraded Marathon Petroleum from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 4th. Finally, Raymond James increased their price target on Marathon Petroleum from $190.00 to $192.00 and gave the stock a "strong-buy" rating in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $181.27.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC traded down $4.46 during mid-day trading on Friday, reaching $153.81. The company had a trading volume of 1,996,223 shares, compared to its average volume of 2,718,004. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The firm has a market cap of $49.43 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 3.11 and a beta of 1.41. The company's 50-day moving average price is $146.72 and its 200-day moving average price is $156.49. Marathon Petroleum Co. has a one year low of $130.54 and a one year high of $221.11.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $31.94 billion. During the same quarter in the previous year, the firm posted $3.98 EPS. Marathon Petroleum's revenue was down 9.1% on a year-over-year basis. As a group, equities research analysts anticipate that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.

Marathon Petroleum declared that its Board of Directors has initiated a stock repurchase program on Tuesday, November 5th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are 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 paid a $0.91 dividend. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a yield of 2.37%. Marathon Petroleum's dividend payout ratio is 36.66%.

Marathon Petroleum 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.