Callan Capital LLC Reduces Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Callan Capital LLC trimmed its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 13.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,917 shares of the oil and gas company’s stock after selling 295 shares during the quarter. Callan Capital LLC’s holdings in Marathon Petroleum were worth $267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MPC. Gladius Capital Management LP purchased a new stake in Marathon Petroleum during the 3rd quarter valued at about $26,000. MeadowBrook Investment Advisors LLC grew its stake in Marathon Petroleum by 88.9% during the 3rd 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 last quarter. True Wealth Design LLC grew its stake in Marathon Petroleum by 672.7% during the 3rd 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 last quarter. Asset Planning Inc purchased a new stake in Marathon Petroleum during the 4th quarter valued at about $28,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in Marathon Petroleum during the 3rd quarter valued at about $30,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Performance

NYSE MPC opened at $153.81 on Friday. The stock has a market capitalization of $49.43 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 3.11 and a beta of 1.41. Marathon Petroleum Co. has a twelve month low of $130.54 and a twelve month high of $221.11. 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 stock has a 50-day moving average of $146.72 and a 200 day moving average of $156.49.

Marathon Petroleum (NYSE:MPC) last announced its earnings results 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. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The business had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $31.94 billion. During the same quarter in the prior year, the firm earned $3.98 earnings per share. The business’s revenue was down 9.1% compared to the same quarter last year. Sell-side analysts anticipate that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th will be issued 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 dividend yield of 2.37%. Marathon Petroleum’s payout ratio is currently 36.66%.

Marathon Petroleum announced that its board has initiated a share 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 purchase up to 10% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have weighed in on the company. Mizuho dropped their price target on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Raymond James boosted their price objective on Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a report on Friday, January 17th. Tudor Pickering raised Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. TD Cowen reissued a “buy” rating and issued a $170.00 price objective on shares of Marathon Petroleum in a report on Tuesday, December 10th. Finally, Wells Fargo & Company boosted their price objective on Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $181.27.

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 on Wednesday, December 4th. The stock was acquired at an average price of $149.61 per share, with a total value of $897,660.00. Following the completion of the acquisition, the director now directly owns 6,090 shares of the company’s stock, valued at $911,124.90. The trade was a 6,666.67 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.21% of the company’s stock.

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.