Victory Capital Management Inc. Cuts Stake in Marathon Petroleum Co. (NYSE:MPC)

Victory Capital Management Inc. decreased its holdings in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 8.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 438,270 shares of the oil and gas company's stock after selling 40,606 shares during the period. Victory Capital Management Inc. owned about 0.14% of Marathon Petroleum worth $61,139,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of MPC. Wellington Management Group LLP increased its holdings in Marathon Petroleum by 342.1% in the 3rd quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company's stock worth $911,274,000 after buying an additional 4,328,470 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Marathon Petroleum by 7.0% in the fourth quarter. Bank of New York Mellon Corp now owns 4,803,951 shares of the oil and gas company's stock worth $670,151,000 after acquiring an additional 315,786 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Marathon Petroleum by 22.3% during the fourth quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company's stock valued at $495,595,000 after purchasing an additional 647,045 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Marathon Petroleum by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,485,925 shares of the oil and gas company's stock worth $346,787,000 after purchasing an additional 67,913 shares during the last quarter. Finally, Bank of Montreal Can grew its position in Marathon Petroleum by 45.4% in the 3rd quarter. Bank of Montreal Can now owns 1,329,422 shares of the oil and gas company's stock worth $217,560,000 after purchasing an additional 415,368 shares during the period. Hedge funds and other institutional investors own 76.77% of the company's stock.

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Insider Buying and Selling

In other Marathon Petroleum news, Director Evan Bayh purchased 1,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $133.70 per share, with a total value of $133,700.00. Following the completion of the acquisition, the director now owns 69,305 shares in the company, valued at $9,266,078.50. This trade represents a 1.46 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.21% of the stock is currently owned by company insiders.

Marathon Petroleum Trading Up 0.8 %

NYSE:MPC traded up $1.12 during midday trading on Monday, hitting $138.67. The stock had a trading volume of 219,452 shares, compared to its average volume of 2,506,789. 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 stock has a 50-day moving average of $148.61 and a 200 day moving average of $154.16. The company has a market capitalization of $43.35 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 3.11 and a beta of 1.39. Marathon Petroleum Co. has a one year low of $130.54 and a one year high of $221.11.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.71. The business had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The business's revenue was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.98 EPS. As a group, sell-side analysts forecast that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th will be issued 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 dividend yield of 2.62%. Marathon Petroleum's dividend payout ratio is presently 36.66%.

Analyst Upgrades and Downgrades

MPC has been the topic of several research analyst reports. Raymond James increased 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. Piper Sandler dropped their target price on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating on the stock in a research report on Friday. Tudor Pickering raised shares of Marathon Petroleum from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 4th. TD Cowen reissued a "buy" rating and issued a $170.00 price objective on shares of Marathon Petroleum in a report on Tuesday, December 10th. Finally, Mizuho reduced their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a "neutral" rating for the company in a report on Monday, December 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $182.00.

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.