Redwood Investment Management LLC cut its position in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 12.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,345 shares of the oil and gas company's stock after selling 3,987 shares during the period. Redwood Investment Management LLC's holdings in Marathon Petroleum were worth $3,954,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently made changes to their positions in the company. SWS Partners boosted its stake in Marathon Petroleum by 19.0% during the 4th quarter. SWS Partners now owns 17,577 shares of the oil and gas company's stock worth $2,452,000 after purchasing an additional 2,806 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Marathon Petroleum by 1,204.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company's stock worth $75,757,000 after buying an additional 501,441 shares in the last quarter. Greatmark Investment Partners Inc. grew its stake in Marathon Petroleum by 3.5% during the 4th quarter. Greatmark Investment Partners Inc. now owns 161,171 shares of the oil and gas company's stock valued at $22,483,000 after acquiring an additional 5,476 shares in the last quarter. TCTC Holdings LLC grew its stake in Marathon Petroleum by 3.3% during the 4th 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. Finally, Cambridge Financial Group Inc. acquired a new stake in Marathon Petroleum in the 4th quarter valued at about $5,624,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Marathon Petroleum
In related news, Director Evan Bayh bought 1,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average cost of $133.70 per share, with a total value of $133,700.00. Following the purchase, 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Ricky D. Hessling purchased 2,000 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were bought at an average price of $134.72 per share, for a total transaction of $269,440.00. Following the acquisition, the insider now owns 12,162 shares in the company, valued at $1,638,464.64. This trade represents a 19.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.21% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
MPC has been the subject of a number of analyst reports. Wells Fargo & Company upped their price target on Marathon Petroleum from $175.00 to $180.00 and gave the company an "overweight" rating in a research report on Tuesday. Piper Sandler dropped their target price on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a report on Friday, March 7th. Morgan Stanley reduced their price target on Marathon Petroleum from $175.00 to $160.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Scotiabank lowered their price target on shares of Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. Finally, Barclays raised their price objective on shares of Marathon Petroleum from $141.00 to $159.00 and gave the stock an "overweight" rating in a research report on Monday. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $175.29.
View Our Latest Report on MPC
Marathon Petroleum Price Performance
Marathon Petroleum stock opened at $163.64 on Thursday. 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 $50.27 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 3.11 and a beta of 0.87. The company's 50 day simple moving average is $138.59 and its 200-day simple moving average is $145.34. Marathon Petroleum Co. has a 1 year low of $115.10 and a 1 year high of $183.31.
Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating 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 company had revenue of $31.85 billion for the quarter, compared to analyst estimates of $28.91 billion. During the same quarter in the previous year, the company earned $2.58 earnings per share. The firm's quarterly revenue was down 4.1% compared to the same quarter last year. As a group, equities research analysts expect that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.
Marathon Petroleum Dividend Announcement
The company also recently announced 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. This represents a $3.64 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Wednesday, May 21st. Marathon Petroleum's dividend payout ratio (DPR) is 51.20%.
Marathon Petroleum Company Profile
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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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