Marathon Petroleum Co. (NYSE:MPC) Stock Holdings Decreased by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC lowered its holdings in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 43.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 156,832 shares of the oil and gas company's stock after selling 119,384 shares during the quarter. Lord Abbett & CO. LLC's holdings in Marathon Petroleum were worth $21,878,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Integrated Wealth Concepts LLC lifted its holdings in shares of Marathon Petroleum by 70.0% in the 4th quarter. Integrated Wealth Concepts LLC now owns 15,604 shares of the oil and gas company's stock worth $2,177,000 after acquiring an additional 6,423 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in Marathon Petroleum by 11.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 285,260 shares of the oil and gas company's stock valued at $39,794,000 after buying an additional 29,800 shares during the last quarter. Dark Forest Capital Management LP boosted its holdings in Marathon Petroleum by 55.6% in the 4th quarter. Dark Forest Capital Management LP now owns 2,928 shares of the oil and gas company's stock worth $408,000 after buying an additional 1,046 shares during the period. Quantessence Capital LLC purchased a new stake in shares of Marathon Petroleum in the fourth quarter worth about $3,790,000. Finally, Yaupon Capital Management LP bought a new stake in Marathon Petroleum in the fourth quarter worth $31,417,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on MPC. Piper Sandler decreased their price target on shares of Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Wells Fargo & Company lowered their price target on Marathon Petroleum from $185.00 to $175.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Barclays cut their price target on Marathon Petroleum from $161.00 to $141.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Raymond James dropped their target price on Marathon Petroleum from $193.00 to $183.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 9th. Finally, Scotiabank dropped their price target on Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $174.21.

Marathon Petroleum Trading Up 2.2 %

Marathon Petroleum stock traded up $3.06 during trading hours on Friday, reaching $140.78. The stock had a trading volume of 642,435 shares, compared to its average volume of 2,684,386. The stock has a market cap of $43.86 billion, a PE ratio of 14.15, a PEG ratio of 3.11 and a beta of 1.04. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The company has a fifty day simple moving average of $137.26 and a 200-day simple moving average of $145.65. Marathon Petroleum Co. has a 52 week low of $115.10 and a 52 week high of $184.77.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.71. The business had revenue of $33.47 billion during 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 quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.98 EPS. Analysts forecast that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Wednesday, May 21st. Marathon Petroleum's dividend payout ratio is 36.66%.

Insider Activity at Marathon Petroleum

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

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.