Allworth Financial LP Sells 147 Shares of Marathon Petroleum Co. (NYSE:MPC)

Allworth Financial LP cut its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 1.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 12,302 shares of the oil and gas company’s stock after selling 147 shares during the period. Allworth Financial LP’s holdings in Marathon Petroleum were worth $1,816,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in Marathon Petroleum by 342.1% during the third quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock worth $911,274,000 after purchasing an additional 4,328,470 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Marathon Petroleum by 19,153.8% during the third quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company’s stock worth $213,605,000 after buying an additional 1,304,372 shares during the last quarter. ING Groep NV bought a new stake in Marathon Petroleum in the third quarter worth about $114,107,000. Pacer Advisors Inc. boosted its stake in Marathon Petroleum by 22.3% in 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 acquiring an additional 647,045 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in shares of Marathon Petroleum by 212.9% during the 3rd quarter. National Bank of Canada FI now owns 846,756 shares of the oil and gas company’s stock worth $137,945,000 after purchasing an additional 576,119 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Marathon Petroleum

In other news, Director Jeffrey C. Campbell bought 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was bought at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the transaction, the director now directly owns 6,090 shares of the company’s stock, valued at $911,124.90. This represents a 6,666.67 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MPC. Wells Fargo & Company boosted their target price on Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Barclays lowered their price objective on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Raymond James boosted 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 report on Friday, January 17th. Finally, Mizuho cut their price objective on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.27.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $159.25 on Wednesday. The stock’s 50-day simple moving average is $146.06 and its two-hundred day simple moving average is $156.67. Marathon Petroleum Co. has a twelve month low of $130.54 and a twelve month high of $221.11. The firm has a market capitalization of $51.18 billion, a P/E ratio of 16.04, a P/E/G ratio of 2.91 and a beta of 1.41. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.71. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The company had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $31.94 billion. During the same period in the prior year, the business earned $3.98 earnings per share. Marathon Petroleum’s revenue for the quarter was down 9.1% compared to the same quarter last year. As a group, equities analysts anticipate that Marathon Petroleum Co. will post 8.7 EPS for the current fiscal year.

Marathon Petroleum announced that its Board of Directors has authorized a share buyback program on Tuesday, November 5th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be given a $0.91 dividend. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 annualized dividend and a yield of 2.29%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 36.66%.

Marathon Petroleum 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.