Ipswich Investment Management Co. Inc. Sells 150 Shares of Marathon Petroleum Co. (NYSE:MPC)

Ipswich Investment Management Co. Inc. decreased its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 8.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,625 shares of the oil and gas company’s stock after selling 150 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Marathon Petroleum were worth $227,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. increased its holdings 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 acquiring an additional 501,441 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Marathon Petroleum by 27.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company’s stock valued at $7,033,000 after acquiring an additional 9,355 shares in the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of Marathon Petroleum by 747.3% during the third quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company’s stock valued at $3,466,000 after acquiring an additional 18,764 shares in the last quarter. Holistic Planning LLC bought a new stake in shares of Marathon Petroleum during the third quarter valued at approximately $912,000. Finally, World Investment Advisors LLC increased its holdings 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 in the last quarter. Institutional investors own 76.77% of the company’s stock.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell acquired 6,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was acquired at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the acquisition, the director now owns 6,090 shares in the company, valued at $911,124.90. This represents a 6,666.67 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by company insiders.

Marathon Petroleum Price Performance

MPC opened at $153.81 on Friday. The stock has a market capitalization of $49.43 billion, a P/E ratio of 15.49, a PEG ratio of 3.08 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 stock has a 50-day moving average price of $146.72 and a 200-day moving average price of $156.59. 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 earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.71. The company had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. Marathon Petroleum’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.98 EPS. Equities analysts predict that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum announced that its board has authorized a stock repurchase 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 reacquire up to 10% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio is presently 36.66%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Barclays decreased their price objective on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Tudor Pickering raised Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. TD Cowen reaffirmed a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Raymond James lifted their target price on Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a research report on Friday, January 17th. Finally, Wells Fargo & Company lifted their target price on Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average price target of $181.27.

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.