Kathmere Capital Management LLC Sells 707 Shares of Marathon Petroleum Co. (NYSE:MPC)

Kathmere Capital Management LLC lowered its position in Marathon Petroleum Co. (NYSE:MPC) by 12.8% during the 4th quarter, Holdings Channel reports. The fund owned 4,814 shares of the oil and gas company’s stock after selling 707 shares during the period. Kathmere Capital Management LLC’s holdings in Marathon Petroleum were worth $672,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. lifted its holdings in shares of Marathon Petroleum by 378.9% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 3,338 shares of the oil and gas company’s stock worth $579,000 after purchasing an additional 2,641 shares in the last quarter. Edgestream Partners L.P. lifted its stake in shares of Marathon Petroleum by 271.7% in the second quarter. Edgestream Partners L.P. now owns 15,686 shares of the oil and gas company’s stock valued at $2,721,000 after buying an additional 11,466 shares in the last quarter. Denali Advisors LLC grew its holdings in shares of Marathon Petroleum by 15.2% during the second quarter. Denali Advisors LLC now owns 3,800 shares of the oil and gas company’s stock valued at $659,000 after buying an additional 500 shares during the last quarter. Mutual of America Capital Management LLC increased its position in shares of Marathon Petroleum by 12.8% during the second quarter. Mutual of America Capital Management LLC now owns 54,420 shares of the oil and gas company’s stock worth $9,441,000 after acquiring an additional 6,172 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its position in Marathon Petroleum by 7.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 182,723 shares of the oil and gas company’s stock valued at $31,700,000 after acquiring an additional 11,882 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on MPC. Wells Fargo & Company lowered their price objective on Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. BMO Capital Markets dropped their price objective on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. JPMorgan Chase & Co. reduced their target price on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Bank of America initiated coverage on shares of Marathon Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $174.00 price target on the stock. Finally, Mizuho reduced their price objective on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.73.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $152.05 on Thursday. The firm has a market capitalization of $48.87 billion, a P/E ratio of 12.05, a PEG ratio of 2.56 and a beta of 1.42. 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 business has a fifty day moving average price of $147.88 and a 200-day moving average price of $159.57.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, topping the consensus estimate of $0.97 by $0.90. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The business had revenue of $35.37 billion during the quarter, compared to the consensus estimate of $34.34 billion. During the same quarter last year, the company earned $8.14 EPS. The firm’s revenue was down 14.9% compared to the same quarter last year. As a group, equities research analysts forecast that Marathon Petroleum Co. will post 9.47 EPS for the current year.

Marathon Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th were issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Wednesday, November 20th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio is 28.84%.

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

Insiders Place Their Bets

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

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.