UMB Bank n.a. Cuts Stake in Marathon Petroleum Co. (NYSE:MPC)

UMB Bank n.a. reduced its stake in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 56.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,019 shares of the oil and gas company's stock after selling 31,701 shares during the quarter. UMB Bank n.a.'s holdings in Marathon Petroleum were worth $3,351,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MPC. Wellington Management Group LLP lifted its stake in shares of Marathon Petroleum by 342.1% during the 3rd quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company's stock valued at $911,274,000 after buying an additional 4,328,470 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Marathon Petroleum by 19,153.8% in the third quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company's stock valued at $213,605,000 after acquiring an additional 1,304,372 shares in the last quarter. ING Groep NV bought a new position in shares of Marathon Petroleum in the third quarter worth about $114,107,000. National Bank of Canada FI grew its position in shares of Marathon Petroleum by 212.9% during the third quarter. National Bank of Canada FI now owns 846,756 shares of the oil and gas company's stock worth $137,945,000 after purchasing an additional 576,119 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Marathon Petroleum by 1,204.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company's stock valued at $75,757,000 after purchasing an additional 501,441 shares during the period. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. 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 report on Thursday, October 10th. TD Cowen reiterated 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 price target on shares of Marathon Petroleum from $172.00 to $171.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 9th. BMO Capital Markets lowered their price objective on shares of Marathon Petroleum from $200.00 to $190.00 and set an "outperform" rating for the company in a research report on Friday, October 4th. Finally, Citigroup reduced their target price on shares of Marathon Petroleum from $172.00 to $167.00 and set a "neutral" rating on the stock in a report on Thursday, October 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $181.20.

Marathon Petroleum Stock Down 1.2 %

Shares of NYSE MPC traded down $1.88 during trading hours on Tuesday, hitting $150.82. 2,669,289 shares of the stock were exchanged, compared to its average volume of 2,823,634. The company has a market cap of $48.47 billion, a PE ratio of 11.95, a PEG ratio of 2.93 and a beta of 1.42. Marathon Petroleum Co. has a 12 month low of $130.54 and a 12 month high of $221.11. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The firm has a fifty day moving average price of $147.70 and a 200-day moving average price of $158.94.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, beating 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 company had revenue of $35.37 billion during the quarter, compared to analysts' expectations of $34.34 billion. During the same period last year, the business posted $8.14 earnings per share. The firm's revenue was down 14.9% compared to the same quarter last year. On average, sell-side analysts expect that Marathon Petroleum Co. will post 8.88 EPS for the current year.

Marathon Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th were issued a dividend of $0.91 per share. This is an increase from Marathon Petroleum's previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.41%. Marathon Petroleum's payout ratio is 28.84%.

Marathon Petroleum declared that its Board of Directors has authorized a stock buyback plan on Tuesday, November 5th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Activity at Marathon Petroleum

In related news, Director Jeffrey C. Campbell purchased 6,000 shares of the business's stock in a transaction on Wednesday, December 4th. The shares were bought at an average cost of $149.61 per share, with a total value of $897,660.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.21% of the stock is owned by insiders.

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.