Sanctuary Advisors LLC Sells 4,847 Shares of Marathon Petroleum Co. (NYSE:MPC)

Sanctuary Advisors LLC reduced its position in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 3.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 145,122 shares of the oil and gas company's stock after selling 4,847 shares during the quarter. Sanctuary Advisors LLC's holdings in Marathon Petroleum were worth $22,999,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Gladius Capital Management LP purchased a new stake in Marathon Petroleum in the 3rd quarter worth about $26,000. MeadowBrook Investment Advisors LLC increased its holdings in shares of Marathon Petroleum by 88.9% in the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company's stock valued at $28,000 after purchasing an additional 80 shares during the period. True Wealth Design LLC lifted its position in shares of Marathon Petroleum by 672.7% in 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 in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Marathon Petroleum during the 3rd quarter valued at $30,000. Finally, Darwin Wealth Management LLC bought a new stake in Marathon Petroleum in the third quarter worth $33,000. Hedge funds and other institutional investors own 76.77% of the company's stock.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell acquired 6,000 shares of the business's stock in a transaction on Wednesday, December 4th. The stock was purchased at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the transaction, the director now owns 6,090 shares in the company, valued at $911,124.90. This trade represents a 6,666.67 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MPC. JPMorgan Chase & Co. reduced their price target on Marathon Petroleum from $172.00 to $171.00 and set a "neutral" rating for the company in a research report on Wednesday, October 9th. Piper Sandler decreased their target price on Marathon Petroleum from $168.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday, September 20th. Morgan Stanley dropped their price target on shares of Marathon Petroleum from $196.00 to $182.00 and set an "overweight" rating on the stock in a research report on Monday, September 16th. Barclays decreased their price objective on shares of Marathon Petroleum from $168.00 to $159.00 and set an "overweight" rating for the company in a report on Monday, November 11th. Finally, Tudor Pickering lowered shares of Marathon Petroleum from a "strong-buy" rating to a "strong sell" rating in a research report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Marathon Petroleum has an average rating of "Moderate Buy" and a consensus price target of $185.27.

Marathon Petroleum Stock Performance

Marathon Petroleum stock traded down $0.64 on Friday, hitting $145.64. The company's stock had a trading volume of 815,698 shares, compared to its average volume of 2,610,340. The company has a fifty day moving average price of $155.63 and a 200-day moving average price of $165.28. The firm has a market cap of $46.81 billion, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 2.67 and a beta of 1.39. Marathon Petroleum Co. has a one year low of $142.84 and a one year high of $221.11. 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 (NYSE:MPC - Get Free Report) last posted its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.97 by $0.90. The business had revenue of $35.37 billion for the quarter, compared to analysts' expectations of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The firm's revenue for the quarter was down 14.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.14 earnings per share. On average, equities analysts anticipate that Marathon Petroleum Co. will post 9.5 earnings per share for the current year.

Marathon Petroleum announced that its board has authorized a stock 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 reacquire up to 10% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Marathon Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend was Wednesday, November 20th. This is an increase from Marathon Petroleum's previous quarterly dividend of $0.83. Marathon Petroleum's dividend payout ratio (DPR) is 28.84%.

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.