Marathon Petroleum Co. (NYSE:MPC) Stake Lessened by Truist Financial Corp

Truist Financial Corp decreased its holdings in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 30.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,271 shares of the oil and gas company's stock after selling 24,073 shares during the period. Truist Financial Corp's holdings in Marathon Petroleum were worth $7,710,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MPC. Wellington Management Group LLP grew its holdings in 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 worth $911,274,000 after acquiring an additional 4,328,470 shares during the period. Pacer Advisors Inc. grew its stake in shares of Marathon Petroleum by 22.3% during the 4th quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company's stock worth $495,595,000 after purchasing an additional 647,045 shares during the period. Bank of Montreal Can increased 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 valued at $217,560,000 after purchasing an additional 415,368 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of 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 valued at $213,605,000 after purchasing an additional 1,304,372 shares during the period. Finally, National Pension Service lifted its stake in shares of Marathon Petroleum by 3.1% in the third quarter. National Pension Service now owns 977,250 shares of the oil and gas company's stock valued at $159,204,000 after purchasing an additional 29,008 shares during the period. 76.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MPC has been the topic of several research analyst reports. Raymond James boosted their price target on Marathon Petroleum from $190.00 to $192.00 and gave the stock a "strong-buy" rating in a research note on Friday, January 17th. TD Cowen reiterated a "buy" rating and set a $170.00 target price on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Tudor Pickering upgraded Marathon Petroleum from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 4th. Barclays decreased 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 report on Monday, November 11th. Finally, Wells Fargo & Company raised their target price on shares of Marathon Petroleum from $182.00 to $183.00 and gave the company an "overweight" rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Marathon Petroleum currently has an average rating of "Moderate Buy" and an average price target of $181.27.

Insider Activity

In other news, Director Jeffrey C. Campbell bought 6,000 shares of the firm's stock in a transaction dated Wednesday, December 4th. The stock was acquired at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the acquisition, the director now owns 6,090 shares of the company's stock, valued at $911,124.90. This trade represents a 6,666.67 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.21% of the company's stock.

Marathon Petroleum Trading Down 1.4 %

Shares of NYSE:MPC traded down $2.10 during midday trading on Tuesday, reaching $150.60. The company's stock had a trading volume of 2,435,627 shares, compared to its average volume of 2,850,641. The firm has a market cap of $48.40 billion, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 3.11 and a beta of 1.41. The business has a 50 day moving average price of $147.27 and a 200 day moving average price of $156.07. Marathon Petroleum Co. has a 1 year low of $130.54 and a 1 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 quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $31.94 billion. During the same quarter in the previous year, the business earned $3.98 EPS. The firm's revenue was down 9.1% on a year-over-year basis. Research analysts forecast that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th will be issued 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 dividend yield of 2.42%. Marathon Petroleum's dividend payout ratio (DPR) is presently 36.66%.

Marathon Petroleum declared that its board has approved a stock repurchase plan on Tuesday, November 5th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 10% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

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.