Fifth Third Bancorp Decreases Stake in Marathon Petroleum Co. (NYSE:MPC)

Fifth Third Bancorp lowered its holdings in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 8.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 591,343 shares of the oil and gas company's stock after selling 51,718 shares during the quarter. Fifth Third Bancorp owned approximately 0.18% of Marathon Petroleum worth $82,492,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in MPC. Gladius Capital Management LP purchased a new position in shares of Marathon Petroleum during the 3rd quarter valued at $26,000. MeadowBrook Investment Advisors LLC lifted its position in shares of Marathon Petroleum by 88.9% in 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 in the last quarter. True Wealth Design LLC boosted its stake 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 acquiring an additional 148 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of Marathon Petroleum during the third quarter worth about $30,000. Finally, Darwin Wealth Management LLC bought a new stake in Marathon Petroleum during the 3rd quarter valued at approximately $33,000. Institutional investors own 76.77% of the company's stock.

Marathon Petroleum Trading Down 1.9 %

Marathon Petroleum stock traded down $2.88 during midday trading on Friday, reaching $151.43. The stock had a trading volume of 4,318,848 shares, compared to its average volume of 2,236,087. Marathon Petroleum Co. has a 52-week low of $130.54 and a 52-week high of $221.11. The company has a fifty day moving average of $147.18 and a 200 day moving average of $158.58. The firm has a market cap of $48.67 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 2.88 and a beta of 1.42. 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 issued its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) 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 firm had revenue of $35.37 billion during the quarter, compared to analyst estimates of $34.34 billion. During the same period last year, the company earned $8.14 EPS. Marathon Petroleum's quarterly revenue was down 14.9% compared to the same quarter last year. On average, analysts anticipate that Marathon Petroleum Co. will post 8.88 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.40%. 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 currently 28.84%.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MPC. Bank of America started coverage on shares of Marathon Petroleum in a report on Thursday, October 17th. They set a "neutral" rating and a $174.00 price objective for the company. Raymond James lifted their price target on shares of Marathon Petroleum from $190.00 to $192.00 and gave the company a "strong-buy" rating in a report on Friday, January 17th. JPMorgan Chase & Co. dropped their price objective on shares of Marathon Petroleum from $172.00 to $171.00 and set a "neutral" rating for the company in a report on Wednesday, October 9th. Citigroup reduced their target price on Marathon Petroleum from $172.00 to $167.00 and set a "neutral" rating on the stock in a report on Thursday, October 10th. Finally, Barclays dropped their price target on Marathon Petroleum from $168.00 to $159.00 and set an "overweight" rating for the company in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $181.20.

Insider Activity at Marathon Petroleum

In other news, Director Jeffrey C. Campbell purchased 6,000 shares of the company's stock in a transaction dated Wednesday, December 4th. The shares were acquired at an average price of $149.61 per share, with a total value of $897,660.00. Following the transaction, the director now owns 6,090 shares of the company's stock, valued at $911,124.90. This represents a 6,666.67 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.