Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Prossimo Advisors LLC

Prossimo Advisors LLC trimmed its holdings in Marathon Petroleum Co. (NYSE:MPC) by 21.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,942 shares of the oil and gas company’s stock after selling 795 shares during the period. Prossimo Advisors LLC’s holdings in Marathon Petroleum were worth $410,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of MPC. Wellington Management Group LLP lifted its holdings in Marathon Petroleum by 342.1% in the 3rd quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock valued at $911,274,000 after acquiring an additional 4,328,470 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Marathon Petroleum by 19,153.8% during the third quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company’s stock valued at $213,605,000 after buying an additional 1,304,372 shares in the last quarter. ING Groep NV purchased a new position in shares of Marathon Petroleum during the third quarter valued at $114,107,000. Pacer Advisors Inc. increased its stake in shares of Marathon Petroleum by 22.3% in the fourth quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company’s stock worth $495,595,000 after acquiring an additional 647,045 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in shares of Marathon Petroleum by 212.9% in the third quarter. National Bank of Canada FI now owns 846,756 shares of the oil and gas company’s stock worth $137,945,000 after acquiring an additional 576,119 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Marathon Petroleum news, Director Jeffrey C. Campbell acquired 6,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was purchased at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the transaction, the director now owns 6,090 shares in the company, valued at $911,124.90. This trade represents a 6,666.67 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MPC. Wells Fargo & Company upped their price target on shares of Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Tudor Pickering raised shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Mizuho cut their price target on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Raymond James raised their price target 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, TD Cowen restated a “buy” rating and set a $170.00 price target on shares of Marathon Petroleum in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.27.

Marathon Petroleum Trading Up 2.0 %

Shares of Marathon Petroleum stock opened at $159.25 on Wednesday. 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’s fifty day moving average price is $146.22 and its two-hundred day moving average price is $156.63. Marathon Petroleum Co. has a 52-week low of $130.54 and a 52-week high of $221.11. The firm has a market capitalization of $51.18 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 3.07 and a beta of 1.41.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.71. The company had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The company’s revenue was down 9.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.98 EPS. On average, analysts expect that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum announced that its board has authorized a stock repurchase plan on Tuesday, November 5th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.64 annualized dividend and a dividend yield of 2.29%. Marathon Petroleum’s dividend payout ratio is presently 36.66%.

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.