Marathon Petroleum Co. (NYSE:MPC) Position Reduced by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB cut its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 1.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 20,886 shares of the oil and gas company’s stock after selling 389 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Marathon Petroleum were worth $2,914,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of MPC. Cidel Asset Management Inc. boosted its stake in shares of Marathon Petroleum by 13.5% during the 4th quarter. Cidel Asset Management Inc. now owns 6,923 shares of the oil and gas company’s stock worth $966,000 after acquiring an additional 822 shares in the last quarter. SOA Wealth Advisors LLC. grew its position in Marathon Petroleum by 431.0% during the 4th quarter. SOA Wealth Advisors LLC. now owns 2,007 shares of the oil and gas company’s stock worth $280,000 after purchasing an additional 1,629 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in Marathon Petroleum during the 4th quarter worth about $86,000. Gilliland Jeter Wealth Management LLC increased its stake in Marathon Petroleum by 0.9% in the 4th quarter. Gilliland Jeter Wealth Management LLC now owns 25,709 shares of the oil and gas company’s stock valued at $3,586,000 after buying an additional 240 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Marathon Petroleum by 1.1% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 38,216 shares of the oil and gas company’s stock valued at $5,331,000 after purchasing an additional 425 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

MPC has been the subject of several research reports. Mizuho reduced their price target on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a report 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. Barclays reduced their price target on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Raymond James boosted their target price on Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a report on Friday, January 17th. Finally, TD Cowen reiterated a “buy” rating and set a $170.00 price target on shares of Marathon Petroleum in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average price target of $181.27.

Insider Transactions at Marathon Petroleum

In other news, Director Jeffrey C. Campbell acquired 6,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were purchased at an average cost of $149.61 per share, for a total transaction of $897,660.00. Following the transaction, the director now owns 6,090 shares of the company’s stock, valued at approximately $911,124.90. This represents a 6,666.67 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.21% of the company’s stock.

Marathon Petroleum Trading Down 1.2 %

Shares of MPC stock opened at $150.13 on Friday. The stock has a market cap of $48.25 billion, a price-to-earnings ratio of 15.12, a P/E/G ratio of 2.91 and a beta of 1.41. The firm has a fifty day moving average of $145.91 and a 200-day moving average of $157.63. Marathon Petroleum Co. has a 52-week low of $130.54 and a 52-week high of $221.11. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share 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 firm 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 posted $3.98 earnings per share. The business’s revenue was down 9.1% compared to the same quarter last year. On average, equities research analysts forecast that Marathon Petroleum Co. will post 8.7 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be issued a dividend of $0.91 per share. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a yield of 2.42%. Marathon Petroleum’s dividend payout ratio is 36.66%.

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

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.