New York Life Investment Management LLC Has $6.71 Million Stake in Marathon Petroleum Co. (NYSE:MPC)

New York Life Investment Management LLC decreased its holdings in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,117 shares of the oil and gas company's stock after selling 1,948 shares during the period. New York Life Investment Management LLC's holdings in Marathon Petroleum were worth $6,712,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. OLD Second National Bank of Aurora grew its stake in Marathon Petroleum by 7.2% during the fourth quarter. OLD Second National Bank of Aurora now owns 994 shares of the oil and gas company's stock worth $139,000 after buying an additional 67 shares during the last quarter. Lake Street Advisors Group LLC boosted its holdings in shares of Marathon Petroleum by 1.6% in the 4th quarter. Lake Street Advisors Group LLC now owns 4,271 shares of the oil and gas company's stock worth $596,000 after acquiring an additional 69 shares in the last quarter. American Trust increased its holdings in Marathon Petroleum by 5.3% during the 3rd quarter. American Trust now owns 1,397 shares of the oil and gas company's stock valued at $228,000 after purchasing an additional 70 shares in the last quarter. DT Investment Partners LLC raised its position in Marathon Petroleum by 21.5% in the 4th quarter. DT Investment Partners LLC now owns 395 shares of the oil and gas company's stock valued at $55,000 after purchasing an additional 70 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its stake in Marathon Petroleum by 3.4% in the fourth quarter. Avior Wealth Management LLC now owns 2,171 shares of the oil and gas company's stock worth $303,000 after purchasing an additional 71 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MPC. Wells Fargo & Company raised their target price on Marathon Petroleum from $182.00 to $183.00 and gave the company an "overweight" rating in a research note on Wednesday, February 5th. Raymond James upped their target price on shares of Marathon Petroleum from $190.00 to $192.00 and gave the stock a "strong-buy" rating in a research report on Friday, January 17th. Tudor Pickering raised shares of Marathon Petroleum from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 4th. Mizuho dropped their price objective on shares of Marathon Petroleum from $175.00 to $174.00 and set a "neutral" rating for the company in a research report on Monday, December 16th. Finally, TD Cowen reiterated a "buy" rating and issued a $170.00 price objective on shares of Marathon Petroleum in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $181.27.

Insider Buying and Selling at Marathon Petroleum

In related news, Director Jeffrey C. Campbell acquired 6,000 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The shares were acquired at an average cost of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the acquisition, the director now directly owns 6,090 shares in the company, valued at approximately $911,124.90. The trade was a 6,666.67 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.21% of the company's stock.

Marathon Petroleum Trading Down 2.9 %

Shares of MPC stock traded down $4.43 on Monday, reaching $145.75. The company had a trading volume of 2,714,514 shares, compared to its average volume of 2,826,225. The company has a 50-day moving average of $148.39 and a 200-day moving average of $155.21. Marathon Petroleum Co. has a 12 month low of $130.54 and a 12 month high of $221.11. The stock has a market cap of $46.84 billion, a PE ratio of 14.68, a PEG ratio of 3.11 and a beta of 1.41. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94.

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

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th will be issued a dividend of $0.91 per share. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 annualized dividend and a yield of 2.50%. Marathon Petroleum's dividend payout ratio (DPR) is currently 36.66%.

Marathon Petroleum announced that its board has initiated a stock buyback plan on Tuesday, November 5th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire up to 10% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors 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.