Envestnet Asset Management Inc. Cuts Stake in Marathon Petroleum Co. (NYSE:MPC)

Envestnet Asset Management Inc. reduced its holdings in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 24.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 264,694 shares of the oil and gas company's stock after selling 86,556 shares during the period. Envestnet Asset Management Inc. owned approximately 0.08% of Marathon Petroleum worth $36,925,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new position in Marathon Petroleum during the 4th quarter worth approximately $27,000. Asset Planning Inc bought a new stake in Marathon Petroleum during the 4th quarter worth approximately $28,000. Sierra Ocean LLC bought a new position in shares of Marathon Petroleum in the 4th quarter valued at about $31,000. Cape Investment Advisory Inc. raised its holdings in Marathon Petroleum by 762.9% during 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. Finally, OFI Invest Asset Management bought a new position in Marathon Petroleum in the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 76.77% of the company's stock.

Insider Buying and Selling

In related news, Director Evan Bayh bought 1,000 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the purchase, the director now directly owns 69,305 shares in the company, valued at $9,266,078.50. This trade represents a 1.46 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 acquisition, 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. 0.25% of the stock is currently owned by insiders.

Marathon Petroleum Stock Up 2.7 %

Shares of NYSE:MPC traded up $3.30 during mid-day trading on Thursday, hitting $127.37. 619,239 shares of the company traded hands, compared to its average volume of 2,687,006. 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 stock has a market cap of $39.68 billion, a P/E ratio of 12.86, a P/E/G ratio of 3.11 and a beta of 1.04. The stock has a 50-day moving average price of $141.89 and a two-hundred day moving average price of $148.09. Marathon Petroleum Co. has a 12-month low of $115.10 and a 12-month high of $205.61.

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 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 business had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. During the same quarter in the previous year, the firm posted $3.98 earnings per share. The company's revenue for the quarter was down 9.1% on a year-over-year basis. On average, equities research analysts forecast that Marathon Petroleum Co. will post 8.47 earnings per share 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 paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.64 annualized dividend and a dividend yield of 2.86%. Marathon Petroleum's payout ratio is 36.66%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MPC shares. Raymond James lowered their price target on Marathon Petroleum from $193.00 to $183.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, April 9th. Wells Fargo & Company lowered their price target on shares of Marathon Petroleum from $185.00 to $175.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Piper Sandler lowered their target price on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Scotiabank decreased their price objective on shares of Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Finally, Barclays decreased their target price on Marathon Petroleum from $161.00 to $141.00 and set an "overweight" rating for the company in a research note on Monday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Marathon Petroleum presently has a consensus rating of "Moderate Buy" and a consensus target price of $175.79.

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.