Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. reduced its position in Marathon Petroleum Co. (NYSE:MPC) by 9.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,903 shares of the oil and gas company’s stock after selling 315 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Marathon Petroleum were worth $405,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. TCTC Holdings LLC boosted its position in Marathon Petroleum by 3.3% during the fourth quarter. TCTC Holdings LLC now owns 91,256 shares of the oil and gas company’s stock worth $12,730,000 after acquiring an additional 2,892 shares during the last quarter. Counterpoint Mutual Funds LLC boosted its holdings in shares of Marathon Petroleum by 55.2% during the 4th quarter. Counterpoint Mutual Funds LLC now owns 2,084 shares of the oil and gas company’s stock worth $291,000 after purchasing an additional 741 shares during the last quarter. Cibc World Markets Corp grew its position in shares of Marathon Petroleum by 382.2% in the fourth quarter. Cibc World Markets Corp now owns 223,913 shares of the oil and gas company’s stock valued at $31,236,000 after purchasing an additional 177,480 shares in the last quarter. Sovereign Investment Advisors LLC acquired a new stake in shares of Marathon Petroleum in the fourth quarter valued at approximately $411,000. Finally, Harbour Investments Inc. lifted its position in Marathon Petroleum by 8.3% during the fourth quarter. Harbour Investments Inc. now owns 4,772 shares of the oil and gas company’s stock worth $666,000 after buying an additional 365 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $146.27 on Tuesday. 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 stock has a market capitalization of $45.57 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 3.11 and a beta of 1.39. The business has a 50-day moving average of $148.48 and a 200 day moving average of $152.76. Marathon Petroleum Co. has a 12 month low of $130.54 and a 12 month high of $221.11.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data 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 during 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%. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.98 earnings per share. As a group, sell-side analysts forecast that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Wednesday, February 19th. Marathon Petroleum’s payout ratio is currently 36.66%.

Insider Buying and Selling

In related news, insider Ricky D. Hessling acquired 2,000 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average price of $134.72 per share, for a total transaction of $269,440.00. Following the purchase, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Evan Bayh bought 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the completion of the purchase, the director now directly owns 69,305 shares of the company’s stock, valued at approximately $9,266,078.50. This trade represents a 1.46 % increase in their position. The disclosure for this purchase can be found here. 0.21% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on MPC. Tudor Pickering raised Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. TD Cowen reaffirmed a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Raymond James increased their price target on shares of Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a research note on Friday, January 17th. Piper Sandler reduced their price target on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Finally, Wells Fargo & Company increased their price objective on Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $182.13.

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.