State of Alaska Department of Revenue Sells 2,822 Shares of Marathon Petroleum Co. (NYSE:MPC)

State of Alaska Department of Revenue trimmed its position in Marathon Petroleum Co. (NYSE:MPC) by 5.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,641 shares of the oil and gas company’s stock after selling 2,822 shares during the period. State of Alaska Department of Revenue’s holdings in Marathon Petroleum were worth $7,203,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Czech National Bank raised its holdings in Marathon Petroleum by 1.5% during the third quarter. Czech National Bank now owns 68,178 shares of the oil and gas company’s stock worth $11,107,000 after buying an additional 1,038 shares during the last quarter. Brookstone Capital Management raised its holdings in shares of Marathon Petroleum by 31.8% in the 3rd quarter. Brookstone Capital Management now owns 37,214 shares of the oil and gas company’s stock worth $6,063,000 after acquiring an additional 8,978 shares during the last quarter. CWM LLC increased its holdings in Marathon Petroleum by 20.6% during the 3rd quarter. CWM LLC now owns 19,888 shares of the oil and gas company’s stock worth $3,240,000 after purchasing an additional 3,399 shares in the last quarter. Wedmont Private Capital raised its stake in shares of Marathon Petroleum by 2.9% in the third quarter. Wedmont Private Capital now owns 6,426 shares of the oil and gas company’s stock worth $1,113,000 after purchasing an additional 181 shares during the last quarter. Finally, Sanibel Captiva Trust Company Inc. boosted its position in shares of Marathon Petroleum by 0.7% during the third quarter. Sanibel Captiva Trust Company Inc. now owns 67,676 shares of the oil and gas company’s stock valued at $11,025,000 after buying an additional 461 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Trading Down 3.5 %

Shares of Marathon Petroleum stock opened at $151.74 on Friday. The company’s 50-day moving average price is $146.10 and its 200-day moving average price is $157.78. The company has a market cap of $48.77 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 2.77 and a beta of 1.41. Marathon Petroleum Co. has a 12-month low of $130.54 and a 12-month high of $221.11. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. The company had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $31.94 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The firm’s revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.98 earnings per share. On average, equities analysts expect that Marathon Petroleum Co. will post 8.88 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.64 annualized dividend and a yield of 2.40%. Marathon Petroleum’s payout ratio is presently 28.84%.

Marathon Petroleum declared that its board has initiated a share repurchase 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 often a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

MPC has been the topic of several recent analyst reports. Wells Fargo & Company raised their price objective on Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a research note on Wednesday. Bank of America began coverage on shares of Marathon Petroleum in a report on Thursday, October 17th. They set a “neutral” rating and a $174.00 price target on the stock. Barclays decreased 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. TD Cowen reaffirmed a “buy” rating and issued a $170.00 target price on shares of Marathon Petroleum in a report on Tuesday, December 10th. Finally, Raymond James lifted their price target on Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus target price of $181.27.

Insider Activity

In other news, Director Jeffrey C. Campbell bought 6,000 shares of Marathon Petroleum stock in a transaction that occurred on Wednesday, December 4th. The shares were acquired at an average price 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 purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

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.