Welch Group LLC Decreases Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Welch Group LLC cut its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 7.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,350 shares of the oil and gas company’s stock after selling 199 shares during the quarter. Welch Group LLC’s holdings in Marathon Petroleum were worth $319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. boosted its stake in shares of Marathon Petroleum by 1,204.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock valued at $75,757,000 after purchasing an additional 501,441 shares during the period. Oppenheimer Asset Management Inc. boosted its position in Marathon Petroleum by 27.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company’s stock valued at $7,033,000 after buying an additional 9,355 shares during the period. Wilmington Savings Fund Society FSB grew its holdings in Marathon Petroleum by 747.3% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company’s stock worth $3,466,000 after acquiring an additional 18,764 shares during the last quarter. Holistic Planning LLC purchased a new position in shares of Marathon Petroleum in the third quarter valued at about $912,000. Finally, World Investment Advisors LLC raised its stake in shares of Marathon Petroleum by 4,227.5% during the third quarter. World Investment Advisors LLC now owns 69,759 shares of the oil and gas company’s stock valued at $11,364,000 after acquiring an additional 68,147 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Price Performance

Shares of MPC opened at $147.17 on Tuesday. The firm’s 50-day simple moving average is $146.26 and its two-hundred day simple moving average is $157.96. Marathon Petroleum Co. has a fifty-two week low of $130.54 and a fifty-two week high of $221.11. The stock has a market cap of $47.30 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 2.77 and a beta of 1.41. 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 posted its quarterly earnings data 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 16.19% and a net margin of 3.15%. Analysts anticipate that Marathon Petroleum Co. will post 8.88 earnings per share for the current fiscal year.

Marathon Petroleum declared that its board has initiated a stock repurchase plan on Tuesday, November 5th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 10% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Wednesday, February 19th. Marathon Petroleum’s payout ratio is 28.84%.

Insider Activity at Marathon Petroleum

In other news, Director Jeffrey C. Campbell bought 6,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was acquired at an average cost of $149.61 per share, with a total value of $897,660.00. Following the completion of the acquisition, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on MPC shares. JPMorgan Chase & Co. reduced their price target on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Raymond James boosted their target price 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. Mizuho dropped their price target on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Citigroup cut their price target on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Finally, TD Cowen restated a “buy” rating and issued a $170.00 price objective on shares of Marathon Petroleum in a report on Tuesday, December 10th. Two research 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’s stock. According to MarketBeat, Marathon Petroleum has an average rating of “Moderate Buy” and a consensus price target of $181.20.

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.