Marathon Petroleum Co. (NYSE:MPC) Position Trimmed by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. cut its position in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 12.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,443 shares of the oil and gas company's stock after selling 6,899 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Marathon Petroleum were worth $6,897,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Gladius Capital Management LP purchased a new stake in Marathon Petroleum during the third quarter worth $26,000. Claro Advisors LLC increased its stake in shares of Marathon Petroleum by 32.5% during the third quarter. Claro Advisors LLC now owns 1,710 shares of the oil and gas company's stock worth $279,000 after purchasing an additional 419 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Marathon Petroleum by 3.4% in the third quarter. Thrivent Financial for Lutherans now owns 468,935 shares of the oil and gas company's stock valued at $76,394,000 after acquiring an additional 15,434 shares in the last quarter. Aljian Capital Management LLC acquired a new position in Marathon Petroleum in the 3rd quarter valued at $464,000. Finally, Islay Capital Management LLC lifted its holdings in Marathon Petroleum by 3.8% in the 3rd quarter. Islay Capital Management LLC now owns 7,284 shares of the oil and gas company's stock valued at $1,187,000 after purchasing an additional 266 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Insiders Place Their Bets

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

Marathon Petroleum Stock Performance

NYSE MPC traded up $2.60 on Wednesday, hitting $148.60. 890,405 shares of the company's stock were exchanged, compared to its average volume of 2,470,556. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. Marathon Petroleum Co. has a fifty-two week low of $130.54 and a fifty-two week high of $221.11. The firm has a market cap of $46.29 billion, a price-to-earnings ratio of 14.97, a P/E/G ratio of 3.11 and a beta of 1.39. The firm's 50-day moving average price is $148.56 and its two-hundred day moving average price is $152.54.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released 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 return on equity of 12.07% and a net margin of 2.45%. The business had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $31.94 billion. During the same quarter in the previous year, the company posted $3.98 EPS. The business's revenue was down 9.1% on a year-over-year basis. On average, research analysts expect that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th were issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend was Wednesday, February 19th. Marathon Petroleum's dividend payout ratio (DPR) is presently 36.66%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. TD Cowen reaffirmed a "buy" rating and set a $170.00 price objective on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Mizuho cut their price target on Marathon Petroleum from $175.00 to $174.00 and set a "neutral" rating for the company in a report on Monday, December 16th. Tudor Pickering raised Marathon Petroleum from a "strong sell" rating to a "hold" rating in a research note on Tuesday, February 4th. Barclays boosted their price target on shares of Marathon Petroleum from $159.00 to $161.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. Finally, Raymond James lifted their target price on shares of Marathon Petroleum from $190.00 to $192.00 and gave the stock a "strong-buy" rating in a research note 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, the company currently has an average rating of "Moderate Buy" and a consensus price target of $182.13.

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.