MetLife Investment Management LLC Has $11.90 Million Position in Marathon Petroleum Co. (NYSE:MPC)

MetLife Investment Management LLC cut its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 2.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,295 shares of the oil and gas company’s stock after selling 2,037 shares during the period. MetLife Investment Management LLC’s holdings in Marathon Petroleum were worth $11,899,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Virtu Financial LLC raised its position in Marathon Petroleum by 13.3% during the 3rd quarter. Virtu Financial LLC now owns 4,373 shares of the oil and gas company’s stock worth $712,000 after purchasing an additional 515 shares during the last quarter. Tudor Financial Inc. acquired a new position in shares of Marathon Petroleum in the third quarter worth approximately $823,000. Stock Yards Bank & Trust Co. boosted its holdings in Marathon Petroleum by 1.0% in the third quarter. Stock Yards Bank & Trust Co. now owns 12,038 shares of the oil and gas company’s stock valued at $1,961,000 after acquiring an additional 116 shares during the last quarter. World Investment Advisors LLC increased its position in Marathon Petroleum by 4,227.5% during the 3rd quarter. World Investment Advisors LLC now owns 69,759 shares of the oil and gas company’s stock valued at $11,364,000 after purchasing an additional 68,147 shares during the period. Finally, Wilmington Savings Fund Society FSB raised its holdings in Marathon Petroleum by 747.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company’s stock worth $3,466,000 after purchasing an additional 18,764 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

Shares of MPC opened at $127.55 on Monday. Marathon Petroleum Co. has a 52 week low of $115.10 and a 52 week high of $201.36. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The stock has a 50 day moving average price of $140.81 and a two-hundred day moving average price of $147.27. The firm has a market capitalization of $39.74 billion, a P/E ratio of 12.85, a P/E/G ratio of 3.11 and a beta of 1.04.

Marathon Petroleum (NYSE:MPC) last released 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. The business had revenue of $33.47 billion during 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%. Marathon Petroleum’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.98 EPS. Equities analysts forecast that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th were given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend was Wednesday, February 19th. Marathon Petroleum’s payout ratio is 36.66%.

Analyst Upgrades and Downgrades

MPC has been the subject of several recent analyst reports. Barclays decreased their price objective on shares of Marathon Petroleum from $161.00 to $141.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Piper Sandler lowered their price objective on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Wells Fargo & Company cut their target price on Marathon Petroleum from $185.00 to $175.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Raymond James dropped their price target on Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, April 9th. Finally, Tudor Pickering raised shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $175.79.

Insider Activity at Marathon Petroleum

In other news, insider Ricky D. Hessling purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average price of $134.72 per share, with a total value of $269,440.00. Following the transaction, the insider now directly owns 12,162 shares of the company’s stock, valued at approximately $1,638,464.64. This represents a 19.68 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Evan Bayh acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased 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. 0.25% of the stock is currently owned by company insiders.

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.