Gateway Investment Advisers LLC cut its position in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 4.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,003 shares of the oil and gas company's stock after selling 1,764 shares during the period. Gateway Investment Advisers LLC's holdings in Marathon Petroleum were worth $4,883,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in Marathon Petroleum by 342.1% during the third quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company's stock worth $911,274,000 after purchasing an additional 4,328,470 shares in the last quarter. Pacer Advisors Inc. lifted its position in Marathon Petroleum by 8.8% in the third quarter. Pacer Advisors Inc. now owns 2,905,610 shares of the oil and gas company's stock valued at $473,353,000 after acquiring an additional 235,795 shares during the last quarter. Bank of Montreal Can boosted its stake in Marathon Petroleum by 45.4% in the third quarter. Bank of Montreal Can now owns 1,329,422 shares of the oil and gas company's stock valued at $217,560,000 after acquiring an additional 415,368 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Marathon Petroleum by 19,153.8% during the third quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company's stock worth $213,605,000 after purchasing an additional 1,304,372 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Marathon Petroleum by 6.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,285,248 shares of the oil and gas company's stock valued at $222,965,000 after purchasing an additional 72,192 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company's stock.
Insider Activity
In other news, Director Jeffrey C. Campbell acquired 6,000 shares of the business's stock in a transaction dated Wednesday, December 4th. The stock was acquired at an average price of $149.61 per share, with a total value of $897,660.00. Following the completion of the transaction, the director now directly owns 6,090 shares in the company, valued at approximately $911,124.90. This represents a 6,666.67 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.21% of the company's stock.
Analyst Ratings Changes
MPC has been the topic of a number of research reports. Citigroup dropped their price target on Marathon Petroleum from $172.00 to $167.00 and set a "neutral" rating on the stock in a research note on Thursday, October 10th. TD Cowen reiterated a "buy" rating and issued a $170.00 price target on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Mizuho lowered their price objective 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. Barclays reduced their target price 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. Finally, Bank of America initiated coverage on Marathon Petroleum in a report on Thursday, October 17th. They set a "neutral" rating and a $174.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $181.20.
Check Out Our Latest Report on MPC
Marathon Petroleum Price Performance
Shares of NYSE:MPC traded up $1.13 on Friday, reaching $152.83. 2,479,994 shares of the company were exchanged, compared to its average volume of 2,802,449. The company has a 50-day moving average of $147.76 and a 200-day moving average of $159.31. 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 firm has a market cap of $49.12 billion, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 2.51 and a beta of 1.42. Marathon Petroleum Co. has a 1-year low of $130.54 and a 1-year high of $221.11.
Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.90. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The company had revenue of $35.37 billion for the quarter, compared to the consensus estimate of $34.34 billion. During the same period in the previous year, the business earned $8.14 earnings per share. Marathon Petroleum's quarterly revenue was down 14.9% compared to the same quarter last year. Equities analysts forecast that Marathon Petroleum Co. will post 9.38 earnings per share for the current fiscal year.
Marathon Petroleum declared that its Board of Directors has authorized a stock buyback plan on Tuesday, November 5th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the oil and gas company to repurchase up to 10% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.
Marathon Petroleum Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.38%. This is a boost from Marathon Petroleum's previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, November 20th. Marathon Petroleum's payout ratio is 28.84%.
Marathon Petroleum Profile
(
Free Report)
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.
See Also
Before you consider Marathon Petroleum, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Marathon Petroleum wasn't on the list.
While Marathon Petroleum currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
