Bayesian Capital Management LP Cuts Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Bayesian Capital Management LP reduced its holdings in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 65.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,897 shares of the oil and gas company's stock after selling 27,700 shares during the quarter. Bayesian Capital Management LP's holdings in Marathon Petroleum were worth $2,078,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Marathon Petroleum during the fourth quarter valued at about $27,000. Asset Planning Inc purchased a new stake in shares of Marathon Petroleum in the fourth quarter worth approximately $28,000. Sierra Ocean LLC bought a new position in shares of Marathon Petroleum in the fourth quarter valued at approximately $31,000. Cape Investment Advisory Inc. raised its position in Marathon Petroleum by 762.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company's stock valued at $42,000 after buying an additional 267 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new position in Marathon Petroleum during the 4th quarter worth $44,000. Institutional investors own 76.77% of the company's stock.

Insiders Place Their Bets

In related news, insider Ricky D. Hessling purchased 2,000 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average price of $134.72 per share, for a total transaction of $269,440.00. Following the completion of the acquisition, the insider now directly owns 12,162 shares in the company, valued at approximately $1,638,464.64. The trade was a 19.68 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Evan Bayh acquired 1,000 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was bought at an average price of $133.70 per share, with a total value of $133,700.00. Following the completion of the acquisition, the director now directly owns 69,305 shares in the company, valued at approximately $9,266,078.50. This represents a 1.46 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.21% of the company's stock.

Marathon Petroleum Trading Up 0.1 %

Shares of Marathon Petroleum stock traded up $0.15 during trading on Wednesday, reaching $144.70. The company's stock had a trading volume of 3,135,236 shares, compared to its average volume of 2,706,969. The firm's 50-day moving average is $136.85 and its two-hundred day moving average is $145.26. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a 52-week low of $115.10 and a 52-week high of $184.72. The company has a market cap of $45.08 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 3.11 and a beta of 0.87.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, topping analysts' consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The business had revenue of $31.85 billion for the quarter, compared to analysts' expectations of $28.91 billion. During the same period in the previous year, the firm earned $2.58 EPS. The business's quarterly revenue was down 4.1% on a year-over-year basis. On average, sell-side analysts anticipate that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a yield of 2.52%. Marathon Petroleum's dividend payout ratio is presently 36.66%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of Marathon Petroleum from $185.00 to $175.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Barclays decreased their price objective on Marathon Petroleum from $161.00 to $141.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Morgan Stanley cut their target price on shares of Marathon Petroleum from $175.00 to $160.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Tudor Pickering raised shares of Marathon Petroleum from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 4th. Finally, TD Cowen lifted their price objective on shares of Marathon Petroleum from $142.00 to $152.00 and gave the company a "buy" rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $172.93.

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.