Fmr LLC Sells 2,352,128 Shares of Marathon Petroleum Co. (NYSE:MPC)

FMR LLC trimmed its position in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 41.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,318,925 shares of the oil and gas company's stock after selling 2,352,128 shares during the quarter. FMR LLC owned about 1.03% of Marathon Petroleum worth $462,990,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MPC. Wellington Management Group LLP lifted its stake in shares of Marathon Petroleum by 78.1% in the 4th quarter. Wellington Management Group LLP now owns 9,961,503 shares of the oil and gas company's stock valued at $1,389,630,000 after purchasing an additional 4,367,774 shares during the period. Norges Bank purchased a new stake in shares of Marathon Petroleum in the fourth quarter valued at approximately $453,427,000. Boston Partners lifted its holdings in Marathon Petroleum by 37.4% in the fourth quarter. Boston Partners now owns 3,436,704 shares of the oil and gas company's stock valued at $480,501,000 after acquiring an additional 935,042 shares during the last quarter. Pacer Advisors Inc. lifted its position in Marathon Petroleum by 22.3% in the fourth quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company's stock valued at $495,595,000 after buying an additional 647,045 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Marathon Petroleum by 1,204.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company's stock worth $75,757,000 after acquiring an additional 501,441 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company's stock.

Marathon Petroleum Trading Down 0.7 %

Shares of MPC stock traded down $0.87 during trading hours on Tuesday, hitting $123.98. 677,289 shares of the company were exchanged, compared to its average volume of 2,682,609. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The firm has a market cap of $38.62 billion, a PE ratio of 12.48, a PEG ratio of 3.11 and a beta of 1.04. The firm has a fifty day moving average of $143.00 and a 200 day moving average of $148.44. Marathon Petroleum Co. has a 1 year low of $115.10 and a 1 year high of $210.80.

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 for the quarter, topping analysts' consensus estimates of $0.06 by $0.71. The business had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $31.94 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The business's quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.98 earnings per share. Analysts expect that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 19th were issued a $0.91 dividend. The ex-dividend date was Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.94%. Marathon Petroleum's dividend payout ratio (DPR) is presently 36.66%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Raymond James decreased their price target on Marathon Petroleum from $193.00 to $183.00 and set a "strong-buy" rating for the company in a report on Wednesday, April 9th. Barclays reduced their target price on shares of Marathon Petroleum from $161.00 to $141.00 and set an "overweight" rating for the company in a report on Monday. Tudor Pickering upgraded Marathon Petroleum from a "strong sell" rating to a "hold" rating in a research note on Tuesday, February 4th. Wells Fargo & Company cut 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. Finally, Scotiabank reduced their target price on Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum has a consensus rating of "Moderate Buy" and an average price target of $175.79.

Insider Activity at Marathon Petroleum

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

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.