Van ECK Associates Corp Sells 5,012 Shares of Marathon Petroleum Co. (NYSE:MPC)

Van ECK Associates Corp reduced its stake in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 7.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,390 shares of the oil and gas company's stock after selling 5,012 shares during the period. Van ECK Associates Corp's holdings in Marathon Petroleum were worth $8,982,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Catalyst Financial Partners LLC raised its position in shares of Marathon Petroleum by 1.6% during the 3rd quarter. Catalyst Financial Partners LLC now owns 4,285 shares of the oil and gas company's stock worth $698,000 after purchasing an additional 67 shares during the last quarter. OLD Second National Bank of Aurora raised its position in shares of Marathon Petroleum by 7.2% during the 4th quarter. OLD Second National Bank of Aurora now owns 994 shares of the oil and gas company's stock worth $139,000 after purchasing an additional 67 shares during the last quarter. American Trust raised its position in shares of Marathon Petroleum by 5.3% during the 3rd 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 during the last quarter. Financial Partners Group LLC raised its position in shares of 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 worth $362,000 after purchasing an additional 71 shares during the last quarter. Finally, Avior Wealth Management LLC raised 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 purchasing an additional 71 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MPC has been the subject of several analyst reports. Mizuho cut their price target on Marathon Petroleum from $175.00 to $174.00 and set a "neutral" rating for the company in a report on Monday, December 16th. Tudor Pickering upgraded Marathon Petroleum from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 4th. Raymond James boosted their price target on Marathon Petroleum from $190.00 to $192.00 and gave the company a "strong-buy" rating in a report on Friday, January 17th. Barclays cut their price target on Marathon Petroleum from $168.00 to $159.00 and set an "overweight" rating for the company in a report on Monday, November 11th. Finally, Wells Fargo & Company boosted their price target on Marathon Petroleum from $182.00 to $183.00 and gave the company an "overweight" rating in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $181.27.

Marathon Petroleum Stock Up 1.1 %

Marathon Petroleum stock traded up $1.66 during trading on Thursday, reaching $158.30. 2,464,516 shares of the company's stock were exchanged, compared to its average volume of 2,858,702. The company's 50-day moving average is $146.32 and its two-hundred day moving average is $156.63. 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 Co. has a 52-week low of $130.54 and a 52-week high of $221.11. The firm has a market cap of $50.87 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 3.13 and a beta of 1.41.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.71. The firm had revenue of $33.47 billion during the quarter, compared to analysts' expectations of $31.94 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The firm's revenue was down 9.1% on a year-over-year basis. During the same period in the prior year, the company earned $3.98 EPS. On average, analysts predict that Marathon Petroleum Co. will post 8.47 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. Shareholders of record on Wednesday, February 19th will be given a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a yield of 2.30%. Marathon Petroleum's payout ratio is currently 36.66%.

Marathon Petroleum announced that its Board of Directors 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 reacquire up to 10% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling at Marathon Petroleum

In related news, Director Jeffrey C. Campbell bought 6,000 shares of the business's stock in a transaction dated Wednesday, December 4th. The shares were acquired at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the purchase, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.21% of the stock is currently owned by corporate 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.