Cresset Asset Management LLC Trims Stake in Marathon Petroleum Co. (NYSE:MPC)

Cresset Asset Management LLC reduced its holdings in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 76.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,794 shares of the oil and gas company's stock after selling 25,933 shares during the period. Cresset Asset Management LLC's holdings in Marathon Petroleum were worth $1,087,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MPC. Wealth Enhancement Advisory Services LLC increased its stake in shares of Marathon Petroleum by 0.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 86,621 shares of the oil and gas company's stock worth $12,084,000 after purchasing an additional 508 shares in the last quarter. Czech National Bank increased its stake in shares of Marathon Petroleum by 2.2% in the fourth quarter. Czech National Bank now owns 69,684 shares of the oil and gas company's stock worth $9,721,000 after purchasing an additional 1,506 shares in the last quarter. Brookstone Capital Management increased its stake in shares of Marathon Petroleum by 67.6% in the fourth quarter. Brookstone Capital Management now owns 62,385 shares of the oil and gas company's stock worth $8,703,000 after purchasing an additional 25,171 shares in the last quarter. Salem Investment Counselors Inc. increased its stake in shares of Marathon Petroleum by 3.4% in the fourth quarter. Salem Investment Counselors Inc. now owns 4,122 shares of the oil and gas company's stock worth $575,000 after purchasing an additional 134 shares in the last quarter. Finally, Claro Advisors LLC increased its stake in shares of Marathon Petroleum by 66.1% in the fourth quarter. Claro Advisors LLC now owns 2,841 shares of the oil and gas company's stock worth $396,000 after purchasing an additional 1,131 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Trading Up 0.6%

NYSE MPC opened at $150.90 on Monday. 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 company has a market capitalization of $46.36 billion, a price-to-earnings ratio of 15.20, a price-to-earnings-growth ratio of 3.11 and a beta of 0.87. The company's 50-day simple moving average is $137.10 and its two-hundred day simple moving average is $145.04. Marathon Petroleum Co. has a one year low of $115.10 and a one year high of $183.31.

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

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Wednesday, May 21st. Marathon Petroleum's payout ratio is 51.20%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Piper Sandler reduced their price objective on shares of Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. Tudor Pickering upgraded shares of Marathon Petroleum from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 4th. Barclays dropped their target price on shares of Marathon Petroleum from $161.00 to $141.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Wells Fargo & Company dropped their target price on shares of Marathon Petroleum from $185.00 to $175.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Finally, Morgan Stanley dropped 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Marathon Petroleum presently has an average rating of "Moderate Buy" and a consensus price target of $172.93.

Insider Buying and Selling at Marathon Petroleum

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

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.

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