Ninety One UK Ltd Reduces Stake in Marathon Petroleum Co. (NYSE:MPC)

Ninety One UK Ltd reduced its position in Marathon Petroleum Co. (NYSE:MPC) by 9.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,719 shares of the oil and gas company’s stock after selling 13,115 shares during the period. Ninety One UK Ltd’s holdings in Marathon Petroleum were worth $19,542,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Bruce G. Allen Investments LLC purchased a new position in Marathon Petroleum during the fourth quarter worth $32,000. True Wealth Design LLC acquired a new stake in shares of Marathon Petroleum during the fourth quarter worth $38,000. Almanack Investment Partners LLC. acquired a new stake in shares of Marathon Petroleum during the third quarter worth $38,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of Marathon Petroleum during the fourth quarter worth $40,000. Finally, Mascoma Wealth Management LLC acquired a new stake in shares of Marathon Petroleum during the third quarter worth $43,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $195.01 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.59 and a debt-to-equity ratio of 0.83. The business has a 50 day moving average of $188.96 and a two-hundred day moving average of $164.59. Marathon Petroleum Co. has a 52 week low of $104.32 and a 52 week high of $221.11. The company has a market cap of $70.27 billion, a P/E ratio of 8.29, a PEG ratio of 1.92 and a beta of 1.52.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, January 30th. The oil and gas company reported $3.98 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $1.77. Marathon Petroleum had a return on equity of 30.58% and a net margin of 6.44%. The company had revenue of $36.26 billion during the quarter, compared to the consensus estimate of $34.90 billion. During the same period in the previous year, the firm posted $6.65 earnings per share. Marathon Petroleum’s quarterly revenue was down 8.9% compared to the same quarter last year. As a group, analysts anticipate that Marathon Petroleum Co. will post 17.57 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Wednesday, February 21st were paid a $0.825 dividend. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $3.30 dividend on an annualized basis and a yield of 1.69%. Marathon Petroleum’s payout ratio is currently 14.02%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MPC shares. The Goldman Sachs Group raised their price objective on Marathon Petroleum from $175.00 to $211.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Citigroup began coverage on Marathon Petroleum in a report on Wednesday, January 24th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. lifted their target price on Marathon Petroleum from $172.00 to $186.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Scotiabank lifted their target price on Marathon Petroleum from $175.00 to $207.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Finally, StockNews.com upgraded Marathon Petroleum from a “hold” rating to a “buy” rating in a report on Saturday, March 9th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus price target of $193.77.

Insider Buying and Selling at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $170.35, for a total transaction of $170,350.00. Following the completion of the transaction, the director now directly owns 23,446 shares in the company, valued at $3,994,026.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.21% of the stock is currently owned by insiders.

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.