Geode Capital Management LLC Trims Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Geode Capital Management LLC lessened its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,914,427 shares of the oil and gas company’s stock after selling 123,765 shares during the quarter. Geode Capital Management LLC owned 2.15% of Marathon Petroleum worth $961,659,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MPC. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Marathon Petroleum during the 4th quarter worth approximately $27,000. Asset Planning Inc acquired a new position in Marathon Petroleum during the fourth quarter worth $28,000. Sierra Ocean LLC purchased a new position in shares of Marathon Petroleum during the fourth quarter worth $31,000. Cape Investment Advisory Inc. grew its stake in shares of Marathon Petroleum by 762.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 267 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new stake in shares of Marathon Petroleum in the 4th quarter valued at $44,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $148.02 on Thursday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. Marathon Petroleum Co. has a 12 month low of $130.54 and a 12 month high of $221.11. The firm has a market capitalization of $46.11 billion, a P/E ratio of 14.91, a P/E/G ratio of 3.11 and a beta of 1.39. The company’s fifty day moving average price is $148.53 and its 200 day moving average price is $151.21.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.71. The business had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The business’s quarterly revenue was down 9.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.98 EPS. As a group, sell-side analysts predict that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently announced 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. The ex-dividend date was Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.46%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 36.66%.

Insider Activity 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 stock was acquired at an average cost of $134.72 per share, with a total value of $269,440.00. Following the completion of the acquisition, the insider now 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Evan Bayh purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average cost of $133.70 per share, for a total transaction of $133,700.00. Following the acquisition, the director now owns 69,305 shares of the company’s stock, valued at approximately $9,266,078.50. The trade was a 1.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.21% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. TD Cowen reaffirmed a “buy” rating and issued a $170.00 target price on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Wells Fargo & Company lifted their price objective on shares of Marathon Petroleum from $183.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Piper Sandler reduced their target price on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Mizuho dropped their price target 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. Finally, Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a 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 given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $180.21.

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.