Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Cigna Investments Inc. New

Cigna Investments Inc. New lessened its position in Marathon Petroleum Co. (NYSE:MPC) by 6.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,425 shares of the oil and gas company’s stock after selling 224 shares during the period. Cigna Investments Inc. New’s holdings in Marathon Petroleum were worth $477,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Gladius Capital Management LP acquired a new stake in shares of Marathon Petroleum in the third quarter valued at about $26,000. MeadowBrook Investment Advisors LLC lifted its stake in shares of Marathon Petroleum by 88.9% in the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 80 shares during the period. True Wealth Design LLC lifted its stake in shares of Marathon Petroleum by 672.7% in the third quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 148 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of Marathon Petroleum in the third quarter valued at about $30,000. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Marathon Petroleum in the third quarter valued at about $33,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Buying and Selling at Marathon Petroleum

In other news, Director Jeffrey C. Campbell bought 6,000 shares of Marathon Petroleum stock in a transaction dated Wednesday, December 4th. The shares were acquired at an average cost of $149.61 per share, with a total value of $897,660.00. Following the completion of the transaction, the director now owns 6,090 shares in the company, valued at approximately $911,124.90. This trade represents a 6,666.67 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $153.84 on Tuesday. Marathon Petroleum Co. has a 1 year low of $130.54 and a 1 year high of $221.11. The firm has a 50 day moving average price of $145.91 and a 200 day moving average price of $157.51. The company has a market cap of $49.44 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 2.91 and a beta of 1.41. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.71. The firm had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $31.94 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. Marathon Petroleum’s 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 earnings per share. Sell-side analysts predict that Marathon Petroleum Co. will post 8.7 earnings per share for the current year.

Marathon Petroleum declared that its board has approved a share repurchase program on Tuesday, November 5th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to repurchase up to 10% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th will be given a dividend of $0.91 per share. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a yield of 2.37%. Marathon Petroleum’s dividend payout ratio (DPR) is 36.66%.

Analyst Upgrades and Downgrades

Several analysts recently commented on MPC shares. Barclays reduced their price objective on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Bank of America began coverage on shares of Marathon Petroleum in a report on Thursday, October 17th. They set a “neutral” rating and a $174.00 target price for the company. Wells Fargo & Company raised their target price on shares of Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Raymond James raised their target price on shares of Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a report on Friday, January 17th. Finally, Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average price target of $181.27.

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.