Burney Co. Lowers Position in Marathon Petroleum Co. (NYSE:MPC)

Burney Co. lessened its stake in Marathon Petroleum Co. (NYSE:MPC) by 32.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,493 shares of the oil and gas company’s stock after selling 14,667 shares during the quarter. Burney Co.’s holdings in Marathon Petroleum were worth $4,254,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of MPC. Gladius Capital Management LP purchased a new position in shares of Marathon Petroleum in the third quarter worth $26,000. MeadowBrook Investment Advisors LLC lifted its holdings in shares of Marathon Petroleum by 88.9% in the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after buying an additional 80 shares in the last quarter. True Wealth Design LLC lifted its holdings in shares of Marathon Petroleum by 672.7% in the third quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after buying an additional 148 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Marathon Petroleum in the third quarter worth $30,000. Finally, Darwin Wealth Management LLC purchased a new position in shares of Marathon Petroleum in the third quarter worth $33,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell acquired 6,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was bought at an average cost of $149.61 per share, with a total value of $897,660.00. Following the completion of the purchase, the director now directly owns 6,090 shares in the company, valued at $911,124.90. The trade was a 6,666.67 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

MPC has been the topic of several research reports. Wells Fargo & Company reduced their price target on shares of Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. 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 target on the stock. Piper Sandler reduced their price target on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th. BMO Capital Markets reduced their price target on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus target price of $183.73.

Marathon Petroleum Trading Up 1.8 %

NYSE MPC opened at $152.05 on Thursday. The company’s 50-day moving average price is $147.88 and its 200-day moving average price is $159.57. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The stock has a market cap of $48.87 billion, a PE ratio of 12.05, a PEG ratio of 2.56 and a beta of 1.42. Marathon Petroleum Co. has a 12 month low of $130.54 and a 12 month high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.90. The firm had revenue of $35.37 billion for the quarter, compared to analysts’ expectations of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The business’s revenue for the quarter was down 14.9% on a year-over-year basis. During the same period in the prior year, the business posted $8.14 earnings per share. Equities research analysts forecast that Marathon Petroleum Co. will post 9.47 earnings per share for the current year.

Marathon Petroleum announced that its board 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 repurchase up to 10% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th were issued a $0.91 dividend. The ex-dividend date was Wednesday, November 20th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.39%. Marathon Petroleum’s dividend payout ratio is presently 28.84%.

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.