Envestnet Asset Management Inc. Sells 86,556 Shares of Marathon Petroleum Co. (NYSE:MPC)

Envestnet Asset Management Inc. lowered its stake in Marathon Petroleum Co. (NYSE:MPC) by 24.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 264,694 shares of the oil and gas company’s stock after selling 86,556 shares during the period. Envestnet Asset Management Inc. owned 0.08% of Marathon Petroleum worth $36,925,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in shares of Marathon Petroleum by 78.1% during the 4th quarter. Wellington Management Group LLP now owns 9,961,503 shares of the oil and gas company’s stock valued at $1,389,630,000 after purchasing an additional 4,367,774 shares in the last quarter. Norges Bank purchased a new stake in Marathon Petroleum in the fourth quarter worth $453,427,000. Boston Partners raised its holdings in Marathon Petroleum by 37.4% in the fourth quarter. Boston Partners now owns 3,436,704 shares of the oil and gas company’s stock worth $480,501,000 after purchasing an additional 935,042 shares in the last quarter. Pacer Advisors Inc. lifted its position in Marathon Petroleum by 22.3% during the fourth quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company’s stock valued at $495,595,000 after buying an additional 647,045 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in Marathon Petroleum by 1,204.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock valued at $75,757,000 after acquiring an additional 501,441 shares during the period. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $123.29 on Friday. The firm’s 50 day simple moving average is $143.65 and its two-hundred day simple moving average is $148.82. 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 has a market capitalization of $38.41 billion, a P/E ratio of 12.42, a P/E/G ratio of 3.11 and a beta of 1.04. Marathon Petroleum Co. has a 1-year low of $115.10 and a 1-year high of $214.00.

Marathon Petroleum (NYSE:MPC) last posted its quarterly 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 for the quarter, compared to analysts’ expectations of $31.94 billion. During the same period last year, the firm earned $3.98 earnings per share. The business’s quarterly revenue was down 9.1% on a year-over-year basis. Research analysts expect that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal 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 given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend was Wednesday, February 19th. Marathon Petroleum’s payout ratio is currently 36.66%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MPC shares. Barclays raised their target price on shares of Marathon Petroleum from $159.00 to $161.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Mizuho reduced their price objective on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. Scotiabank decreased their price target on Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating for the company in a research note on Friday. Finally, Piper Sandler lowered their price target on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and a consensus target price of $177.21.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, insider Ricky D. Hessling bought 2,000 shares of Marathon Petroleum stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the acquisition, the insider now directly owns 12,162 shares in the company, valued at approximately $1,638,464.64. This represents a 19.68 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Evan Bayh purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost of $133.70 per share, with a total value of $133,700.00. Following the acquisition, the director now owns 69,305 shares in the company, valued at $9,266,078.50. The trade was a 1.46 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.21% of the company’s stock.

Marathon Petroleum Company 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.