SteelPeak Wealth LLC Sells 9,695 Shares of Marathon Petroleum Co. (NYSE:MPC)

SteelPeak Wealth LLC decreased its holdings in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 37.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,041 shares of the oil and gas company's stock after selling 9,695 shares during the quarter. SteelPeak Wealth LLC's holdings in Marathon Petroleum were worth $2,238,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Paragon Capital Management Inc. grew its position in shares of Marathon Petroleum by 0.6% during the 2nd quarter. Paragon Capital Management Inc. now owns 10,196 shares of the oil and gas company's stock valued at $1,769,000 after purchasing an additional 65 shares in the last quarter. Catalyst Financial Partners LLC boosted its stake in Marathon Petroleum by 1.6% during the third quarter. Catalyst Financial Partners LLC now owns 4,285 shares of the oil and gas company's stock valued at $698,000 after buying an additional 67 shares during the period. American Trust grew its position in Marathon Petroleum by 5.3% during the third quarter. American Trust now owns 1,397 shares of the oil and gas company's stock worth $228,000 after buying an additional 70 shares in the last quarter. Financial Partners Group LLC increased its stake in Marathon Petroleum by 3.3% in the 3rd quarter. Financial Partners Group LLC now owns 2,220 shares of the oil and gas company's stock worth $362,000 after acquiring an additional 71 shares during the last quarter. Finally, Avior Wealth Management LLC raised its holdings in shares of Marathon Petroleum by 3.4% in the 4th quarter. Avior Wealth Management LLC now owns 2,171 shares of the oil and gas company's stock valued at $303,000 after acquiring an additional 71 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MPC has been the topic of several research analyst reports. Wells Fargo & Company decreased their price objective on shares of Marathon Petroleum from $186.00 to $182.00 and set an "overweight" rating on the stock in a research report on Friday, January 10th. Bank of America initiated coverage on Marathon Petroleum in a research report on Thursday, October 17th. They set a "neutral" rating and a $174.00 price target on the stock. Barclays reduced their price objective on Marathon Petroleum from $168.00 to $159.00 and set an "overweight" rating on the stock in a research report on Monday, November 11th. TD Cowen reaffirmed a "buy" rating and issued a $170.00 target price on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Finally, Scotiabank lowered their price target on shares of Marathon Petroleum from $191.00 to $170.00 and set a "sector outperform" rating for the company in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Marathon Petroleum has a consensus rating of "Moderate Buy" and an average target price of $181.20.

Insiders Place Their Bets

In other Marathon Petroleum news, Director Jeffrey C. Campbell bought 6,000 shares of the firm's stock in a transaction on Wednesday, December 4th. The stock was acquired at an average price 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 approximately $911,124.90. This trade represents a 6,666.67 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is owned by corporate insiders.

Marathon Petroleum Trading Down 1.0 %

Shares of Marathon Petroleum stock traded down $1.52 during midday trading on Thursday, reaching $149.87. 2,084,354 shares of the company's stock traded hands, compared to its average volume of 2,780,481. The company has a market cap of $48.17 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 2.88 and a beta of 1.42. The stock has a 50 day moving average of $146.71 and a 200-day moving average of $158.29. Marathon Petroleum Co. has a 12 month low of $130.54 and a 12 month 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 earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.97 by $0.90. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The firm had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. During the same quarter in the previous year, the firm posted $8.14 EPS. The company's revenue for the quarter was down 14.9% compared to the same quarter last year. As a group, equities analysts expect that Marathon Petroleum Co. will post 8.88 EPS 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. Investors of record on Wednesday, February 19th will be given a dividend of $0.91 per share. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 annualized dividend and a dividend yield of 2.43%. Marathon Petroleum's dividend payout ratio is presently 28.84%.

Marathon Petroleum declared that its Board of Directors has initiated a share buyback plan on Tuesday, November 5th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

Marathon Petroleum Company 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.