Mirae Asset Global Investments Co. Ltd. Sells 11,644 Shares of Marathon Petroleum Co. (NYSE:MPC)

Mirae Asset Global Investments Co. Ltd. decreased its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 22.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,935 shares of the oil and gas company’s stock after selling 11,644 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Marathon Petroleum were worth $5,417,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Calamos Wealth Management LLC boosted its stake in Marathon Petroleum by 2.2% in the 4th quarter. Calamos Wealth Management LLC now owns 4,185 shares of the oil and gas company’s stock valued at $584,000 after buying an additional 89 shares in the last quarter. Trust Point Inc. boosted its position in Marathon Petroleum by 8.7% in the fourth quarter. Trust Point Inc. now owns 5,060 shares of the oil and gas company’s stock valued at $706,000 after buying an additional 405 shares in the last quarter. Holistic Planning LLC grew its stake in Marathon Petroleum by 19.4% during the fourth quarter. Holistic Planning LLC now owns 6,682 shares of the oil and gas company’s stock worth $932,000 after buying an additional 1,084 shares during the last quarter. Resonant Capital Advisors LLC increased its holdings in shares of Marathon Petroleum by 0.6% during the fourth quarter. Resonant Capital Advisors LLC now owns 20,391 shares of the oil and gas company’s stock worth $2,845,000 after buying an additional 118 shares in the last quarter. Finally, Princeton Global Asset Management LLC boosted its holdings in shares of Marathon Petroleum by 0.5% in the 4th quarter. Princeton Global Asset Management LLC now owns 24,551 shares of the oil and gas company’s stock worth $3,425,000 after acquiring an additional 131 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Marathon Petroleum news, Director Jeffrey C. Campbell acquired 6,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were bought at an average cost of $149.61 per share, for a total transaction 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 approximately $911,124.90. This trade represents a 6,666.67 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MPC has been the subject of several research analyst reports. Raymond James lifted their price objective on Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a research report on Friday, January 17th. 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 report on Wednesday. Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Bank of America initiated coverage on shares of Marathon Petroleum in a research report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price objective for the company. Finally, Mizuho lowered their target price on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $181.27.

Marathon Petroleum Stock Down 1.2 %

Marathon Petroleum stock opened at $150.13 on Friday. Marathon Petroleum Co. has a fifty-two week low of $130.54 and a fifty-two week high of $221.11. The firm has a market capitalization of $48.25 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 2.77 and a beta of 1.41. 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 50 day simple moving average is $146.03 and its 200 day simple moving average is $157.74.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.71. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The firm had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $31.94 billion. During the same period in the previous year, the firm earned $3.98 earnings per share. The company’s revenue was down 9.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Marathon Petroleum Co. will post 8.88 EPS for the current year.

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 outstanding shares. This repurchase authorization authorizes the oil and gas company to buy up to 10% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 28.84%.

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.