Flputnam Investment Management Co. Has $1.32 Million Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Flputnam Investment Management Co. lessened its holdings in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 37.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,441 shares of the oil and gas company's stock after selling 5,607 shares during the period. Flputnam Investment Management Co.'s holdings in Marathon Petroleum were worth $1,317,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MPC. Shoker Investment Counsel Inc. raised its position in Marathon Petroleum by 0.8% in the fourth quarter. Shoker Investment Counsel Inc. now owns 31,822 shares of the oil and gas company's stock valued at $4,439,000 after purchasing an additional 239 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Marathon Petroleum during the 4th quarter valued at about $32,690,000. Kovack Advisors Inc. lifted its position in Marathon Petroleum by 10.7% during the 4th quarter. Kovack Advisors Inc. now owns 3,400 shares of the oil and gas company's stock worth $474,000 after acquiring an additional 329 shares in the last quarter. Allegiance Financial Group Advisory Services LLC grew its position in Marathon Petroleum by 19.4% in the fourth quarter. Allegiance Financial Group Advisory Services LLC now owns 4,302 shares of the oil and gas company's stock valued at $600,000 after acquiring an additional 699 shares in the last quarter. Finally, Convergence Financial LLC raised its stake in shares of Marathon Petroleum by 4.3% during the fourth quarter. Convergence Financial LLC now owns 5,943 shares of the oil and gas company's stock valued at $829,000 after purchasing an additional 247 shares during the period. Institutional investors and hedge funds own 76.77% of the company's stock.

Wall Street Analyst Weigh In

MPC has been the subject of a number of recent analyst reports. Barclays lowered their price target on shares of Marathon Petroleum from $168.00 to $159.00 and set an "overweight" rating for the company in a report on Monday, November 11th. TD Cowen reiterated a "buy" rating and issued a $170.00 price target on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Wells Fargo & Company raised their price objective on Marathon Petroleum from $182.00 to $183.00 and gave the company an "overweight" rating in a research note on Wednesday, February 5th. Mizuho cut their target price on Marathon Petroleum from $175.00 to $174.00 and set a "neutral" rating on the stock in a research report on Monday, December 16th. Finally, Tudor Pickering raised shares of Marathon Petroleum from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $181.27.

Insider Buying and Selling

In other news, Director Jeffrey C. Campbell bought 6,000 shares of the business's stock in a transaction on 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 completion of 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.21% of the company's stock.

Marathon Petroleum Stock Performance

NYSE:MPC traded down $4.43 during mid-day trading on Monday, hitting $145.75. The stock had a trading volume of 2,714,514 shares, compared to its average volume of 2,826,225. 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. The stock has a market capitalization of $46.84 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 3.11 and a beta of 1.41. The company has a 50 day simple moving average of $148.15 and a 200-day simple moving average of $155.46.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings data 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 period in the previous year, the firm posted $3.98 earnings per share. 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 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business 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 dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Wednesday, February 19th. Marathon Petroleum's dividend payout ratio is currently 36.66%.

Marathon Petroleum declared that its Board of Directors has authorized a stock buyback plan on Tuesday, November 5th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas company to reacquire up to 10% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

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.