Harrell Investment Partners LLC Reduces Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Harrell Investment Partners LLC decreased its position in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 31.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 30,849 shares of the oil and gas company's stock after selling 14,446 shares during the quarter. Harrell Investment Partners LLC's holdings in Marathon Petroleum were worth $4,303,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Gladius Capital Management LP acquired a new position in Marathon Petroleum during the 3rd quarter worth approximately $26,000. MeadowBrook Investment Advisors LLC boosted its holdings in shares of Marathon Petroleum by 88.9% during the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company's stock worth $28,000 after acquiring an additional 80 shares during the period. True Wealth Design LLC increased its stake in shares of Marathon Petroleum by 672.7% during the third quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 148 shares during the period. Harbor Capital Advisors Inc. bought a new position in Marathon Petroleum during the 3rd quarter worth $30,000. Finally, Darwin Wealth Management LLC bought a new position in Marathon Petroleum during the 3rd quarter worth $33,000. Institutional investors and hedge funds own 76.77% of the company's stock.

Marathon Petroleum Stock Down 1.9 %

MPC traded down $2.88 during midday trading on Friday, reaching $151.43. 4,318,848 shares of the company were exchanged, compared to its average volume of 2,236,087. The company has a market cap of $48.67 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 2.88 and a beta of 1.42. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The company's fifty day moving average price is $147.18 and its 200 day moving average price is $158.55. Marathon Petroleum Co. has a one year low of $130.54 and a one year high of $221.11.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.90. The business had revenue of $35.37 billion during the quarter, compared to analyst estimates of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. Marathon Petroleum's revenue was down 14.9% compared to the same quarter last year. During the same period in the prior year, the company earned $8.14 earnings per share. As a group, analysts expect that Marathon Petroleum Co. will post 8.88 EPS for the current year.

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 given a dividend of $0.91 per share. The ex-dividend date was Wednesday, November 20th. This is a boost from Marathon Petroleum's previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a dividend yield of 2.40%. Marathon Petroleum's dividend payout ratio is currently 28.84%.

Marathon Petroleum declared that its Board of Directors has initiated a stock repurchase program on Tuesday, November 5th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MPC. Wells Fargo & Company lowered their price objective on shares of Marathon Petroleum from $186.00 to $182.00 and set an "overweight" rating for the company in a research report on Friday, January 10th. BMO Capital Markets dropped their price objective on Marathon Petroleum from $200.00 to $190.00 and set an "outperform" rating for the company in a research report on Friday, October 4th. JPMorgan Chase & Co. decreased their target price on Marathon Petroleum from $172.00 to $171.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 9th. TD Cowen restated a "buy" rating and issued a $170.00 price target on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Finally, Citigroup dropped their price objective on shares of Marathon Petroleum from $172.00 to $167.00 and set a "neutral" rating for the company in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $181.20.

Insider Activity

In related news, Director Jeffrey C. Campbell acquired 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, December 4th. The shares were bought 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 owns 6,090 shares in the company, valued at approximately $911,124.90. This trade represents a 6,666.67 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is owned by company 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.