LPL Financial LLC Sells 11,231 Shares of Marathon Petroleum Co. (NYSE:MPC)

LPL Financial LLC lowered its holdings in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 384,192 shares of the oil and gas company's stock after selling 11,231 shares during the quarter. LPL Financial LLC owned 0.12% of Marathon Petroleum worth $53,595,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MPC. SWS Partners grew its stake in shares of Marathon Petroleum by 19.0% in the 4th quarter. SWS Partners now owns 17,577 shares of the oil and gas company's stock valued at $2,452,000 after purchasing an additional 2,806 shares during the period. Assenagon Asset Management S.A. grew its position in Marathon Petroleum by 1,204.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company's stock valued at $75,757,000 after acquiring an additional 501,441 shares during the period. Wilmington Savings Fund Society FSB raised its stake in Marathon Petroleum by 747.3% during the third quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company's stock worth $3,466,000 after acquiring an additional 18,764 shares in the last quarter. Greatmark Investment Partners Inc. lifted its holdings in shares of Marathon Petroleum by 3.5% during the fourth quarter. Greatmark Investment Partners Inc. now owns 161,171 shares of the oil and gas company's stock valued at $22,483,000 after acquiring an additional 5,476 shares during the period. Finally, TCTC Holdings LLC boosted its stake in shares of Marathon Petroleum by 3.3% in the 4th quarter. TCTC Holdings LLC now owns 91,256 shares of the oil and gas company's stock valued at $12,730,000 after purchasing an additional 2,892 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company's stock.

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Marathon Petroleum Trading Up 0.7 %

NYSE MPC traded up $1.00 during trading hours on Tuesday, hitting $146.69. The company's stock had a trading volume of 1,898,804 shares, compared to its average volume of 2,645,228. Marathon Petroleum Co. has a twelve month low of $130.54 and a twelve month high of $221.11. The firm has a market capitalization of $45.70 billion, a P/E ratio of 14.77, a PEG ratio of 3.11 and a beta of 1.39. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The stock has a fifty day moving average of $148.52 and a 200 day moving average of $151.23.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.71. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The company had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $31.94 billion. During the same quarter in the prior year, the business posted $3.98 EPS. The firm's quarterly revenue was down 9.1% on a year-over-year basis. Equities research analysts forecast that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were given a dividend of $0.91 per share. The ex-dividend date was Wednesday, February 19th. This represents a $3.64 annualized dividend and a dividend yield of 2.48%. Marathon Petroleum's payout ratio is currently 36.66%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MPC. TD Cowen reissued a "buy" rating and set a $170.00 price target on shares of Marathon Petroleum in a report on Tuesday, December 10th. Wells Fargo & Company lifted their target price on shares of Marathon Petroleum from $183.00 to $185.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Mizuho dropped their price target on Marathon Petroleum from $175.00 to $174.00 and set a "neutral" rating for the company in a report on Monday, December 16th. Barclays boosted their price objective on Marathon Petroleum from $159.00 to $161.00 and gave the stock an "overweight" rating in a research note on Friday, March 14th. Finally, Piper Sandler lowered their target price on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given 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 an average target price of $180.21.

Insider Activity

In other news, Director Evan Bayh acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the transaction, the director now directly owns 69,305 shares in the company, valued at approximately $9,266,078.50. This represents a 1.46 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, insider Ricky D. Hessling bought 2,000 shares of Marathon Petroleum stock in a transaction on Tuesday, March 11th. The shares were acquired at an average price of $134.72 per share, for a total transaction of $269,440.00. Following the completion of the acquisition, the insider now owns 12,162 shares of the company's stock, valued at approximately $1,638,464.64. This represents a 19.68 % increase in their position. The disclosure for this purchase can be found here. 0.21% of the stock is currently owned by company insiders.

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.