Smith Group Asset Management LLC lowered its stake in Marathon Petroleum Co. (NYSE:MPC – Free Report) by 0.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 72,141 shares of the oil and gas company’s stock after selling 143 shares during the period. Smith Group Asset Management LLC’s holdings in Marathon Petroleum were worth $10,064,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the stock. Gladius Capital Management LP bought a new position in shares of Marathon Petroleum during the third quarter worth approximately $26,000. MeadowBrook Investment Advisors LLC grew its holdings in Marathon Petroleum by 88.9% in the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 80 shares in the last quarter. True Wealth Design LLC increased its position in Marathon Petroleum by 672.7% during the 3rd 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 during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of Marathon Petroleum during the third quarter worth $30,000. Finally, Darwin Wealth Management LLC acquired a new position in shares of Marathon Petroleum in the third quarter valued at about $33,000. 76.77% of the stock is owned by institutional investors.
Marathon Petroleum Price Performance
Shares of NYSE:MPC opened at $150.64 on Wednesday. Marathon Petroleum Co. has a one year low of $130.54 and a one year high of $221.11. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The company has a market cap of $48.42 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 2.88 and a beta of 1.42. The firm has a 50 day simple moving average of $146.87 and a 200 day simple moving average of $158.34.
Marathon Petroleum announced that its board has authorized a share repurchase plan on Tuesday, November 5th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas company to reacquire up to 10% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
Marathon Petroleum Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Wednesday, February 19th. Marathon Petroleum’s payout ratio is 28.84%.
Insider Buying and Selling at Marathon Petroleum
In related news, Director Jeffrey C. Campbell purchased 6,000 shares of Marathon Petroleum stock in a transaction on Wednesday, December 4th. The shares were purchased at an average price 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 position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.21% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on MPC. Barclays dropped their price objective on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Bank of America began coverage on Marathon Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price target for the company. JPMorgan Chase & Co. lowered their price objective on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. BMO Capital Markets reduced their target price on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Finally, Raymond James boosted their price target on Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a research note on Friday, January 17th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $181.20.
Check Out Our Latest Report on Marathon Petroleum
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.
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