Corebridge Financial Inc. Sells 7,934 Shares of Marathon Petroleum Co. (NYSE:MPC)

Corebridge Financial Inc. cut its holdings in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 9.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,866 shares of the oil and gas company's stock after selling 7,934 shares during the period. Corebridge Financial Inc.'s holdings in Marathon Petroleum were worth $10,304,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new stake in Marathon Petroleum in the fourth quarter worth $27,000. True Wealth Design LLC grew its stake in shares of Marathon Petroleum by 672.7% in the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company's stock valued at $28,000 after buying an additional 148 shares during the period. Asset Planning Inc bought a new stake in Marathon Petroleum in the 4th quarter valued at about $28,000. Sierra Ocean LLC acquired a new position in Marathon Petroleum during the 4th quarter worth approximately $31,000. Finally, Cape Investment Advisory Inc. boosted its holdings in Marathon Petroleum by 762.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company's stock worth $42,000 after acquiring an additional 267 shares in the last quarter. Institutional investors own 76.77% of the company's stock.

Insider Buying and Selling at Marathon Petroleum

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

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Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Tudor Pickering raised Marathon Petroleum from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 4th. TD Cowen restated a "buy" rating and set a $170.00 price objective on shares of Marathon Petroleum in a report on Tuesday, December 10th. Wells Fargo & Company raised their price objective on shares of Marathon Petroleum from $183.00 to $185.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Piper Sandler decreased their target price on shares of Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Finally, Mizuho dropped their price target on shares of Marathon Petroleum from $175.00 to $174.00 and set a "neutral" rating on the stock in a research report on Monday, December 16th. 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $180.21.

Marathon Petroleum Stock Performance

Shares of MPC stock traded up $1.75 during trading on Monday, hitting $145.85. The company's stock had a trading volume of 2,483,358 shares, compared to its average volume of 2,646,433. The business has a fifty day moving average of $148.60 and a 200-day moving average of $151.35. The company has a market cap of $45.44 billion, a PE ratio of 14.69, a P/E/G ratio of 3.11 and a beta of 1.39. Marathon Petroleum Co. has a 52 week low of $130.54 and a 52 week high of $221.11. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.71. The firm had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The business's revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.98 EPS. As a group, research analysts anticipate that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th were given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend was Wednesday, February 19th. Marathon Petroleum's dividend payout ratio is 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.