MML Investors Services LLC Sells 12,796 Shares of Marathon Petroleum Co. (NYSE:MPC)

MML Investors Services LLC decreased its holdings in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 27.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,178 shares of the oil and gas company's stock after selling 12,796 shares during the quarter. MML Investors Services LLC's holdings in Marathon Petroleum were worth $5,568,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. WR Wealth Planners LLC boosted its stake in shares of Marathon Petroleum by 15.2% during the 2nd quarter. WR Wealth Planners LLC now owns 431 shares of the oil and gas company's stock worth $75,000 after acquiring an additional 57 shares in the last quarter. Legacy Advisors LLC boosted its holdings in shares of Marathon Petroleum by 5.0% during the 2nd quarter. Legacy Advisors LLC now owns 1,238 shares of the oil and gas company's stock worth $215,000 after buying an additional 59 shares during the period. Latitude Advisors LLC grew its position in shares of Marathon Petroleum by 3.6% in the second quarter. Latitude Advisors LLC now owns 1,714 shares of the oil and gas company's stock valued at $297,000 after purchasing an additional 60 shares during the last quarter. SouthState Corp increased its position in Marathon Petroleum by 1.5% in the 2nd quarter. SouthState Corp now owns 4,122 shares of the oil and gas company's stock worth $715,000 after buying an additional 61 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Marathon Petroleum by 0.9% during the second quarter. EverSource Wealth Advisors LLC now owns 7,165 shares of the oil and gas company's stock worth $1,268,000 after acquiring an additional 61 shares during the period. Institutional investors own 76.77% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. TD Cowen reissued a "buy" rating and set a $170.00 price objective on shares of Marathon Petroleum in a report on Tuesday. Barclays dropped their price objective on Marathon Petroleum from $168.00 to $159.00 and set an "overweight" rating for the company in a report on Monday, November 11th. Piper Sandler decreased their price objective on shares of Marathon Petroleum from $168.00 to $145.00 and set a "neutral" rating for the company in a report on Friday, September 20th. Wells Fargo & Company upped their price objective on shares of Marathon Petroleum from $183.00 to $186.00 and gave the company an "overweight" rating in a research report on Monday. Finally, Citigroup decreased their target price on Marathon Petroleum from $172.00 to $167.00 and set a "neutral" rating for the company in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Marathon Petroleum presently has an average rating of "Moderate Buy" and a consensus target price of $185.27.

Insiders Place Their Bets

In other news, Director Jeffrey C. Campbell purchased 6,000 shares of the business's stock in a transaction dated 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 purchase, 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 position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.21% of the company's stock.

Marathon Petroleum Stock Down 0.5 %

MPC traded down $0.72 on Friday, hitting $145.56. 2,014,624 shares of the company were exchanged, compared to its average volume of 2,615,508. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The stock's fifty day moving average is $155.63 and its 200-day moving average is $165.28. The company has a market cap of $46.78 billion, a PE ratio of 11.59, a PEG ratio of 2.67 and a beta of 1.39. Marathon Petroleum Co. has a 12 month low of $142.84 and a 12 month high of $221.11.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.90. The business had revenue of $35.37 billion during 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 was down 14.9% on a year-over-year basis. During the same period last year, the business earned $8.14 earnings per share. Equities research analysts predict that Marathon Petroleum Co. will post 9.5 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.50%. This is a boost from Marathon Petroleum's previous quarterly dividend of $0.83. Marathon Petroleum's payout ratio is 28.84%.

Marathon Petroleum announced that its Board of Directors has authorized a stock repurchase program on Tuesday, November 5th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to reacquire up to 10% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is 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.