Turtle Creek Wealth Advisors LLC Lowers Holdings in Marathon Petroleum Co. (NYSE:MPC)

Turtle Creek Wealth Advisors LLC trimmed its position in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 42.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,962 shares of the oil and gas company's stock after selling 12,558 shares during the quarter. Turtle Creek Wealth Advisors LLC's holdings in Marathon Petroleum were worth $2,366,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Gladius Capital Management LP purchased a new stake in shares of Marathon Petroleum during the 3rd quarter worth $26,000. MeadowBrook Investment Advisors LLC lifted its stake in shares of 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 worth $28,000 after purchasing an additional 80 shares during the last quarter. True Wealth Design LLC lifted its stake in shares of 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 worth $28,000 after purchasing an additional 148 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Marathon Petroleum during the 3rd quarter worth $30,000. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Marathon Petroleum during the 3rd quarter worth $33,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MPC has been the subject of a number of analyst reports. Barclays decreased their price objective 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. Wells Fargo & Company reduced their target price on Marathon Petroleum from $186.00 to $182.00 and set an "overweight" rating on the stock in a research report on Friday, January 10th. TD Cowen reaffirmed a "buy" rating and set a $170.00 target price on shares of Marathon Petroleum in a research report on Tuesday, December 10th. JPMorgan Chase & Co. reduced their target price on Marathon Petroleum from $172.00 to $171.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 9th. Finally, Scotiabank reduced their target price on Marathon Petroleum from $191.00 to $170.00 and set a "sector outperform" rating on the stock in a research report 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 company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $181.20.

Marathon Petroleum Stock Down 1.0 %

Shares of MPC stock opened at $149.87 on Friday. Marathon Petroleum Co. has a fifty-two week low of $130.54 and a fifty-two week 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. The firm has a market capitalization of $48.17 billion, a PE ratio of 11.88, a P/E/G ratio of 2.88 and a beta of 1.42. The stock's 50-day simple moving average is $146.52 and its 200-day simple moving average is $158.23.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.90. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The firm had revenue of $35.37 billion for the quarter, compared to the consensus estimate of $34.34 billion. During the same quarter in the prior year, the business earned $8.14 earnings per share. The company's revenue was down 14.9% compared to the same quarter last year. Equities analysts expect that Marathon Petroleum Co. will post 8.88 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. Stockholders of record on Wednesday, February 19th will be paid a $0.91 dividend. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.43%. Marathon Petroleum's payout ratio is 28.84%.

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

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell purchased 6,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were bought at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this link. 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.

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