Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Cullen Investment Group LTD.

Cullen Investment Group LTD. lowered its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 10.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,109 shares of the oil and gas company’s stock after selling 5,975 shares during the period. Marathon Petroleum makes up 1.0% of Cullen Investment Group LTD.’s holdings, making the stock its 23rd largest position. Cullen Investment Group LTD.’s holdings in Marathon Petroleum were worth $6,851,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MPC. Oppenheimer Asset Management Inc. raised its holdings 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 worth $7,033,000 after buying an additional 9,355 shares during the period. Wilmington Savings Fund Society FSB raised its holdings in Marathon Petroleum by 747.3% during 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 buying an additional 18,764 shares during the period. Holistic Planning LLC acquired a new stake in Marathon Petroleum during the 3rd quarter worth about $912,000. World Investment Advisors LLC raised its holdings in Marathon Petroleum by 4,227.5% during the 3rd quarter. World Investment Advisors LLC now owns 69,759 shares of the oil and gas company’s stock worth $11,364,000 after buying an additional 68,147 shares during the period. Finally, Magnolia Capital Advisors LLC raised its holdings in Marathon Petroleum by 353.4% during the 2nd quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock worth $9,713,000 after buying an additional 43,639 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $146.83 on Tuesday. The company’s 50-day moving average price is $147.88 and its 200-day moving average price is $159.74. 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 company has a market cap of $47.19 billion, a P/E ratio of 11.63, a P/E/G ratio of 2.56 and a beta of 1.42. Marathon Petroleum Co. has a twelve month low of $130.54 and a twelve month high of $221.11.

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

Marathon Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th were given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date was Wednesday, November 20th. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio is 28.84%.

Marathon Petroleum declared that its board has initiated a stock repurchase program on Tuesday, November 5th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the oil and gas company to repurchase up to 10% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MPC. BMO Capital Markets reduced their price objective on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Morgan Stanley decreased their price target on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Wells Fargo & Company lowered their price objective on shares of Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating for the company in a research report on Friday. Citigroup dropped their price target on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Finally, Mizuho reduced their target price 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. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $183.73.

Insider Buying and Selling at Marathon Petroleum

In related news, Director Jeffrey C. Campbell acquired 6,000 shares of the business’s 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 acquisition, the director now owns 6,090 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is owned by corporate insiders.

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.