Principal Financial Group Inc. Has $279.36 Million Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Principal Financial Group Inc. lowered its position in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 5.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,002,547 shares of the oil and gas company's stock after selling 106,179 shares during the quarter. Principal Financial Group Inc. owned 0.62% of Marathon Petroleum worth $279,355,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Gladius Capital Management LP acquired a new stake in Marathon Petroleum during the 3rd quarter valued at $26,000. MeadowBrook Investment Advisors LLC increased its holdings in Marathon Petroleum by 88.9% during 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 in the last quarter. True Wealth Design LLC increased its holdings in Marathon Petroleum by 672.7% during the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company's stock valued at $28,000 after purchasing an additional 148 shares in the last quarter. Asset Planning Inc acquired a new stake in Marathon Petroleum during the 4th quarter valued at $28,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Marathon Petroleum in the 3rd quarter valued at $30,000. Institutional investors own 76.77% of the company's stock.

Marathon Petroleum Trading Down 2.8 %

MPC stock traded down $4.46 during midday trading on Friday, hitting $153.81. 1,996,223 shares of the company's stock were exchanged, compared to its average volume of 2,838,191. The stock's fifty day moving average price is $146.72 and its 200-day moving average price is $156.59. 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 company has a market cap of $49.43 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 3.08 and a beta of 1.41. Marathon Petroleum Co. has a one year low of $130.54 and a one year high of $221.11.

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 return on equity of 12.07% and a net margin of 2.45%. The firm had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. During the same period in the previous year, the company posted $3.98 earnings per share. The company's revenue for the quarter was down 9.1% on a year-over-year basis. Research analysts predict that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Wednesday, February 19th. Marathon Petroleum's dividend payout ratio is 36.66%.

Marathon Petroleum announced that its board has initiated a share 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 buy up to 10% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

MPC has been the subject of several research reports. Barclays lowered their target price 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. Raymond James lifted their target price on Marathon Petroleum from $190.00 to $192.00 and gave the company a "strong-buy" rating in a research note on Friday, January 17th. Mizuho lowered their target price on Marathon Petroleum from $175.00 to $174.00 and set a "neutral" rating for the company in a research note on Monday, December 16th. Tudor Pickering raised Marathon Petroleum from a "strong sell" rating to a "hold" rating in a research note on Tuesday, February 4th. Finally, TD Cowen reissued a "buy" rating and issued a $170.00 target price on shares of Marathon Petroleum in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus 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 bought 6,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now owns 6,090 shares in the company, valued at $911,124.90. The trade was a 6,666.67 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.21% of the company's stock.

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.