Allspring Global Investments Holdings LLC Has $19.05 Million Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Allspring Global Investments Holdings LLC cut its holdings in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 15.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 134,662 shares of the oil and gas company's stock after selling 23,730 shares during the period. Allspring Global Investments Holdings LLC's holdings in Marathon Petroleum were worth $19,053,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MPC. Gladius Capital Management LP acquired a new stake in shares of Marathon Petroleum during the third quarter valued at approximately $26,000. MeadowBrook Investment Advisors LLC raised 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 valued at $28,000 after acquiring an additional 80 shares during the period. True Wealth Design LLC raised its holdings 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 valued at $28,000 after acquiring an additional 148 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of Marathon Petroleum during the third quarter valued at approximately $30,000. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Marathon Petroleum during the third quarter valued at approximately $33,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

Shares of NYSE MPC traded up $1.66 during trading hours on Thursday, hitting $158.30. 2,464,516 shares of the stock were exchanged, compared to its average volume of 2,857,468. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The company's 50 day moving average is $146.32 and its 200 day moving average is $156.63. The firm has a market capitalization of $50.87 billion, a P/E ratio of 15.94, a P/E/G ratio of 3.13 and a beta of 1.41. 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 posted 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. 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%. Marathon Petroleum's quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.98 EPS. On average, research analysts expect that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum announced that its Board of Directors has authorized a share repurchase plan 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 shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Wednesday, February 19th. Marathon Petroleum's dividend payout ratio is currently 36.66%.

Insider Buying and Selling

In related news, Director Jeffrey C. Campbell purchased 6,000 shares of Marathon Petroleum stock in a transaction on Wednesday, December 4th. The stock was purchased at an average cost of $149.61 per share, with a total value of $897,660.00. Following the acquisition, the director now directly 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 SEC, which is accessible through this link. 0.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MPC shares. TD Cowen restated a "buy" rating and set a $170.00 price target on shares of Marathon Petroleum in a report on Tuesday, December 10th. Barclays dropped their price objective on shares of Marathon Petroleum from $168.00 to $159.00 and set an "overweight" rating on the stock in a research note on Monday, November 11th. Tudor Pickering upgraded shares of Marathon Petroleum from a "strong sell" rating to a "hold" rating in a research note on Tuesday, February 4th. Mizuho dropped 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 note on Monday, December 16th. Finally, Raymond James upped their price objective on shares of Marathon Petroleum from $190.00 to $192.00 and gave the company a "strong-buy" rating in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $181.27.

About Marathon Petroleum

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.