North Point Portfolio Managers Corp OH Sells 2,019 Shares of Marathon Petroleum Co. (NYSE:MPC)

North Point Portfolio Managers Corp OH lessened its stake in Marathon Petroleum Co. (NYSE:MPC) by 2.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 76,154 shares of the oil and gas company’s stock after selling 2,019 shares during the period. North Point Portfolio Managers Corp OH’s holdings in Marathon Petroleum were worth $10,623,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its stake in shares of Marathon Petroleum by 1,204.8% in the 4th 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 buying an additional 501,441 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in Marathon Petroleum by 27.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company’s stock worth $7,033,000 after purchasing an additional 9,355 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in 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 purchasing an additional 18,764 shares in the last quarter. Holistic Planning LLC bought a new stake in shares of Marathon Petroleum in the 3rd quarter valued at approximately $912,000. Finally, World Investment Advisors LLC raised its holdings in shares of Marathon Petroleum by 4,227.5% in 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 in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Marathon Petroleum

In other news, Director Jeffrey C. Campbell acquired 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was purchased at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the acquisition, the director now owns 6,090 shares in the company, valued at $911,124.90. This trade 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 at the SEC website. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MPC. Citigroup lowered their price target on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. TD Cowen reiterated a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Mizuho reduced their price target on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Raymond James raised their price objective on shares of Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a report on Friday, January 17th. Finally, Barclays reduced their target price on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $181.20.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC opened at $151.43 on Monday. The stock has a market capitalization of $48.67 billion, a P/E ratio of 12.00, a P/E/G ratio of 2.88 and a beta of 1.42. 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 Co. has a 1-year low of $130.54 and a 1-year high of $221.11. The business has a 50-day moving average price of $147.18 and a two-hundred day moving average price of $158.52.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.90. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The business had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. During the same period in the prior year, the business posted $8.14 earnings per share. Marathon Petroleum’s revenue was down 14.9% compared to the same quarter last year. Equities analysts predict that Marathon Petroleum Co. will post 8.88 earnings per share for the current year.

Marathon Petroleum declared that its Board of Directors has authorized a share repurchase program on Tuesday, November 5th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to repurchase up to 10% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Marathon Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.40%. Marathon Petroleum’s payout ratio is 28.84%.

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.