Kingswood Wealth Advisors LLC Sells 2,980 Shares of Marathon Petroleum Co. (NYSE:MPC)

Kingswood Wealth Advisors LLC reduced its position in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 39.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,660 shares of the oil and gas company's stock after selling 2,980 shares during the period. Kingswood Wealth Advisors LLC's holdings in Marathon Petroleum were worth $650,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of Marathon Petroleum by 342.1% in 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 acquiring an additional 4,328,470 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Marathon Petroleum by 8.8% during 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 purchasing an additional 235,795 shares during the period. Bank of Montreal Can raised its stake in shares of 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 purchasing an additional 415,368 shares in the last quarter. International Assets Investment Management LLC lifted its position in Marathon Petroleum by 19,153.8% in 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 period. Finally, National Pension Service increased its holdings in Marathon Petroleum by 3.1% in the 3rd quarter. National Pension Service now owns 977,250 shares of the oil and gas company's stock valued at $159,204,000 after buying an additional 29,008 shares during the period. Hedge funds and other institutional investors own 76.77% of the company's stock.

Analyst Ratings Changes

MPC has been the subject of a number of analyst reports. Scotiabank cut their price target on shares of Marathon Petroleum from $191.00 to $170.00 and set a "sector outperform" rating for the company in a research note on Thursday, October 10th. Bank of America initiated coverage on shares of Marathon Petroleum in a report on Thursday, October 17th. They set a "neutral" rating and a $174.00 price target for the company. Wells Fargo & Company decreased their price target on Marathon Petroleum from $186.00 to $182.00 and set an "overweight" rating on the stock in a research report on Friday, January 10th. Mizuho lowered their target price on Marathon Petroleum from $175.00 to $174.00 and set a "neutral" rating for the company in a research note on Monday, December 16th. Finally, TD Cowen restated a "buy" rating and issued a $170.00 price objective on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Two investment 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 company. Based on data from MarketBeat, Marathon Petroleum presently has a consensus rating of "Moderate Buy" and a consensus price target of $181.20.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell purchased 6,000 shares of Marathon Petroleum 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 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 Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is owned by corporate insiders.

Marathon Petroleum Stock Down 0.9 %

Shares of MPC traded down $1.42 during mid-day trading on Thursday, hitting $149.97. 861,571 shares of the company traded hands, compared to its average volume of 2,710,872. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a 1-year low of $130.54 and a 1-year high of $221.11. The company has a market capitalization of $48.20 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 2.88 and a beta of 1.42. The business has a 50 day moving average of $146.71 and a 200 day moving average of $158.29.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share 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 analyst estimates of $34.34 billion. During the same quarter in the previous year, the company posted $8.14 earnings per share. The firm's revenue for the quarter was down 14.9% compared to the same quarter last year. Equities research analysts anticipate that Marathon Petroleum Co. will post 8.88 EPS for the current year.

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 given a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a yield of 2.43%. Marathon Petroleum's payout ratio is currently 28.84%.

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

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.