Marathon Petroleum Co. (NYSE:MPC) Stake Lowered by Nuveen Asset Management LLC

Nuveen Asset Management LLC trimmed its holdings in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 42.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 908,678 shares of the oil and gas company's stock after selling 663,745 shares during the period. Nuveen Asset Management LLC owned approximately 0.28% of Marathon Petroleum worth $126,761,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in MPC. OLD Second National Bank of Aurora boosted its position in shares of Marathon Petroleum by 7.2% during the fourth quarter. OLD Second National Bank of Aurora now owns 994 shares of the oil and gas company's stock worth $139,000 after buying an additional 67 shares during the period. Nixon Peabody Trust Co. boosted its position in shares of Marathon Petroleum by 3.4% during the fourth quarter. Nixon Peabody Trust Co. now owns 2,068 shares of the oil and gas company's stock worth $288,000 after buying an additional 68 shares during the period. Lake Street Advisors Group LLC boosted its position in shares of Marathon Petroleum by 1.6% during the fourth quarter. Lake Street Advisors Group LLC now owns 4,271 shares of the oil and gas company's stock worth $596,000 after buying an additional 69 shares during the period. DT Investment Partners LLC boosted its position in shares of Marathon Petroleum by 21.5% during the fourth quarter. DT Investment Partners LLC now owns 395 shares of the oil and gas company's stock worth $55,000 after buying an additional 70 shares during the period. Finally, Avior Wealth Management LLC boosted its position in shares of Marathon Petroleum by 3.4% during the fourth quarter. Avior Wealth Management LLC now owns 2,171 shares of the oil and gas company's stock worth $303,000 after buying an additional 71 shares during the period. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marathon Petroleum

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

Marathon Petroleum Stock Performance

MPC traded down $0.81 on Tuesday, hitting $161.46. 1,431,691 shares of the company's stock were exchanged, compared to its average volume of 2,707,931. The firm has a market cap of $49.60 billion, a PE ratio of 16.26, a P/E/G ratio of 3.11 and a beta of 0.87. Marathon Petroleum Co. has a twelve month low of $115.10 and a twelve month high of $183.31. The stock has a fifty day moving average of $140.26 and a two-hundred day moving average of $145.70. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94.

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, beating the consensus estimate of ($0.40) by $0.16. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The company had revenue of $31.85 billion for the quarter, compared to analyst estimates of $28.91 billion. During the same quarter last year, the business earned $2.58 earnings per share. Marathon Petroleum's revenue was down 4.1% compared to the same quarter last year. On average, research analysts anticipate that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $3.64 annualized dividend and a dividend yield of 2.25%. Marathon Petroleum's payout ratio is currently 51.20%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Barclays raised their price target on Marathon Petroleum from $141.00 to $159.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. Scotiabank cut their price target on Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Raymond James cut their price target on 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. Wells Fargo & Company raised their price target on Marathon Petroleum from $175.00 to $180.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. Finally, TD Cowen lifted their price objective on Marathon Petroleum from $142.00 to $152.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. One 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $175.29.

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.