iA Global Asset Management Inc. Has $407,000 Holdings in Marathon Petroleum Co. (NYSE:MPC)

iA Global Asset Management Inc. trimmed its holdings in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 86.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,501 shares of the oil and gas company's stock after selling 15,925 shares during the quarter. iA Global Asset Management Inc.'s holdings in Marathon Petroleum were worth $407,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP raised its position in shares of 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 valued at $911,274,000 after buying an additional 4,328,470 shares during the last quarter. Raymond James & Associates boosted its holdings in Marathon Petroleum by 2.6% during the second quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company's stock valued at $743,690,000 after purchasing an additional 107,915 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Marathon Petroleum by 8.8% in the 3rd quarter. Pacer Advisors Inc. now owns 2,905,610 shares of the oil and gas company's stock valued at $473,353,000 after purchasing an additional 235,795 shares during the period. Bank of Montreal Can raised its holdings in shares of Marathon Petroleum by 45.4% in the 3rd quarter. Bank of Montreal Can now owns 1,329,422 shares of the oil and gas company's stock worth $217,560,000 after buying an additional 415,368 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Marathon Petroleum by 19,153.8% in the 3rd 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. Institutional investors and hedge funds own 76.77% of the company's stock.

Marathon Petroleum Trading Down 1.3 %

NYSE:MPC traded down $1.92 during trading hours on Tuesday, hitting $151.06. The stock had a trading volume of 3,351,554 shares, compared to its average volume of 2,616,822. The business's 50 day moving average is $156.76 and its 200-day moving average is $165.70. 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 has a market cap of $48.55 billion, a price-to-earnings ratio of 11.97, a P/E/G ratio of 2.65 and a beta of 1.40. Marathon Petroleum Co. has a one year low of $141.45 and a one year high of $221.11.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.90. The company had revenue of $35.37 billion during the quarter, compared to the consensus estimate of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The company's revenue for the quarter 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. Sell-side analysts anticipate that Marathon Petroleum Co. will post 9.5 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a $0.91 dividend. This is a positive change from Marathon Petroleum's previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Wednesday, November 20th. Marathon Petroleum's payout ratio is presently 28.84%.

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

Analysts Set New Price Targets

MPC has been the subject of several recent analyst reports. Scotiabank dropped their price objective on shares of Marathon Petroleum from $191.00 to $170.00 and set a "sector outperform" rating for the company in a report on Thursday, October 10th. Citigroup cut their price objective on Marathon Petroleum from $172.00 to $167.00 and set a "neutral" rating for the company in a research report on Thursday, October 10th. TD Cowen restated a "buy" rating and set a $170.00 target price on shares of Marathon Petroleum in a report on Tuesday. Piper Sandler reduced their price target on shares of Marathon Petroleum from $168.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, September 20th. Finally, BMO Capital Markets lowered their price objective on shares of Marathon Petroleum from $200.00 to $190.00 and set an "outperform" rating for the company in a research report on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $185.27.

Insiders Place Their Bets

In other news, Director Jeffrey C. Campbell purchased 6,000 shares of the company's stock in a transaction on Wednesday, December 4th. The shares were purchased at an average cost of $149.61 per share, with a total value of $897,660.00. Following the completion of the transaction, the director now owns 6,090 shares of the company's stock, valued at $911,124.90. The trade was a 6,666.67 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.21% of the company's stock.

Marathon Petroleum 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.