Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Spirit of America Management Corp NY

Spirit of America Management Corp NY decreased its holdings in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 10.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 56,575 shares of the oil and gas company's stock after selling 6,500 shares during the quarter. Marathon Petroleum accounts for about 1.6% of Spirit of America Management Corp NY's investment portfolio, making the stock its 16th biggest position. Spirit of America Management Corp NY's holdings in Marathon Petroleum were worth $7,892,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Catalyst Financial Partners LLC increased its stake in Marathon Petroleum by 1.6% in the 3rd quarter. Catalyst Financial Partners LLC now owns 4,285 shares of the oil and gas company's stock worth $698,000 after buying an additional 67 shares during the period. OLD Second National Bank of Aurora boosted its holdings in shares of Marathon Petroleum by 7.2% in the fourth quarter. OLD Second National Bank of Aurora now owns 994 shares of the oil and gas company's stock valued at $139,000 after purchasing an additional 67 shares during the period. American Trust grew its stake in Marathon Petroleum by 5.3% in the third quarter. American Trust now owns 1,397 shares of the oil and gas company's stock worth $228,000 after purchasing an additional 70 shares in the last quarter. Financial Partners Group LLC raised its position in Marathon Petroleum by 3.3% during the 3rd quarter. Financial Partners Group LLC now owns 2,220 shares of the oil and gas company's stock valued at $362,000 after purchasing an additional 71 shares in the last quarter. Finally, Avior Wealth Management LLC grew its position in shares of Marathon Petroleum by 3.4% during the 4th quarter. Avior Wealth Management LLC now owns 2,171 shares of the oil and gas company's stock worth $303,000 after buying an additional 71 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MPC shares. Wells Fargo & Company increased their price objective on shares of Marathon Petroleum from $182.00 to $183.00 and gave the company an "overweight" rating in a research note on Wednesday. Bank of America started coverage on Marathon Petroleum in a research note on Thursday, October 17th. They set a "neutral" rating and a $174.00 price objective for the company. JPMorgan Chase & Co. lowered their price target on shares of Marathon Petroleum from $172.00 to $171.00 and set a "neutral" rating on the stock in a report on Wednesday, October 9th. Barclays decreased their target price on shares of Marathon Petroleum from $168.00 to $159.00 and set an "overweight" rating for the company in a research report on Monday, November 11th. Finally, TD Cowen reaffirmed a "buy" rating and set a $170.00 price target on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Two 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 company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $181.27.

Insider Buying and Selling at Marathon Petroleum

In related news, Director Jeffrey C. Campbell acquired 6,000 shares of the business's stock in a transaction on Wednesday, December 4th. The shares were bought at an average price of $149.61 per share, with a total value of $897,660.00. Following the completion of the acquisition, the director now owns 6,090 shares in the company, valued at $911,124.90. This trade represents a 6,666.67 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.21% of the stock is owned by insiders.

Marathon Petroleum Stock Up 0.2 %

Shares of Marathon Petroleum stock traded up $0.31 during trading hours on Wednesday, reaching $157.22. 3,314,008 shares of the company were exchanged, compared to its average volume of 2,950,994. The firm has a market cap of $50.53 billion, a PE ratio of 12.46, a PEG ratio of 2.77 and a beta of 1.41. The stock's fifty day moving average is $146.07 and its 200 day moving average is $157.78. Marathon Petroleum Co. has a 1 year low of $130.54 and a 1 year high of $221.11. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.71. The business had revenue of $33.47 billion during the quarter, compared to analysts' expectations of $31.94 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The business's quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.98 EPS. As a group, equities research analysts forecast that Marathon Petroleum Co. will post 8.88 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.64 annualized dividend and a dividend yield of 2.32%. Marathon Petroleum's dividend payout ratio (DPR) is currently 36.66%.

Marathon Petroleum declared that its board has initiated a stock repurchase plan on Tuesday, November 5th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock repurchase plans are usually 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.