MML Investors Services LLC trimmed its position in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 9.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,820 shares of the oil and gas company's stock after selling 3,358 shares during the period. MML Investors Services LLC's holdings in Marathon Petroleum were worth $4,299,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SWS Partners lifted its stake in shares of Marathon Petroleum by 19.0% in the fourth quarter. SWS Partners now owns 17,577 shares of the oil and gas company's stock worth $2,452,000 after acquiring an additional 2,806 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Marathon Petroleum by 1,204.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company's stock valued at $75,757,000 after purchasing an additional 501,441 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its stake in shares of Marathon Petroleum by 747.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company's stock valued at $3,466,000 after buying an additional 18,764 shares during the last quarter. Greatmark Investment Partners Inc. increased its stake in shares of Marathon Petroleum by 3.5% in the fourth quarter. Greatmark Investment Partners Inc. now owns 161,171 shares of the oil and gas company's stock worth $22,483,000 after buying an additional 5,476 shares during the last quarter. Finally, TCTC Holdings LLC raised its holdings in Marathon Petroleum by 3.3% in the fourth quarter. TCTC Holdings LLC now owns 91,256 shares of the oil and gas company's stock valued at $12,730,000 after acquiring an additional 2,892 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company's stock.
Wall Street Analyst Weigh In
MPC has been the topic of several research analyst reports. Raymond James reduced their price target on shares of Marathon Petroleum from $193.00 to $183.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, April 9th. Barclays lowered their price target 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 reduced their price objective on Marathon Petroleum from $175.00 to $160.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Piper Sandler lowered their target price 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. Finally, Tudor Pickering upgraded shares of Marathon Petroleum from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Marathon Petroleum has an average rating of "Moderate Buy" and a consensus target price of $174.21.
Check Out Our Latest Report on Marathon Petroleum
Marathon Petroleum Price Performance
MPC traded up $0.67 on Thursday, reaching $138.08. The company had a trading volume of 654,913 shares, compared to its average volume of 2,691,702. The company has a market capitalization of $43.02 billion, a P/E ratio of 13.95, a PEG ratio of 3.11 and a beta of 1.04. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The company has a fifty day moving average of $137.56 and a 200-day moving average of $145.82. Marathon Petroleum Co. has a one year low of $115.10 and a one year high of $184.77.
Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.71. The business had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The business's revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter last year, the business earned $3.98 earnings per share. As a group, equities research analysts anticipate that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.
Marathon Petroleum Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.64%. Marathon Petroleum's dividend payout ratio (DPR) is presently 36.66%.
Insider Activity
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. The trade was a 19.68 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Evan Bayh purchased 1,000 shares of Marathon Petroleum stock in a transaction dated Wednesday, March 5th. The stock was bought at an average cost of $133.70 per share, with a total value 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 represents a 1.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.21% of the company's stock.
About Marathon Petroleum
(
Free Report)
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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