Todd Asset Management LLC Cuts Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Todd Asset Management LLC cut its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 3.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,955 shares of the oil and gas company’s stock after selling 75 shares during the period. Todd Asset Management LLC’s holdings in Marathon Petroleum were worth $273,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Wellington Management Group LLP raised its position in shares of Marathon Petroleum by 342.1% during the 3rd quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock worth $911,274,000 after purchasing an additional 4,328,470 shares during the last quarter. ING Groep NV acquired a new position in shares of Marathon Petroleum during the third quarter valued at approximately $114,107,000. Pacer Advisors Inc. lifted its position in shares of Marathon Petroleum by 22.3% in the fourth quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company’s stock valued at $495,595,000 after acquiring an additional 647,045 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of Marathon Petroleum by 212.9% in the third quarter. National Bank of Canada FI now owns 846,756 shares of the oil and gas company’s stock worth $137,945,000 after acquiring an additional 576,119 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position 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 worth $75,757,000 after purchasing an additional 501,441 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Performance

NYSE MPC opened at $150.60 on Wednesday. The stock has a fifty day simple moving average of $147.27 and a 200-day simple moving average of $156.07. 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 stock has a market cap of $48.40 billion, a PE ratio of 15.17, a P/E/G ratio of 3.11 and a beta of 1.41. Marathon Petroleum Co. has a twelve month low of $130.54 and a twelve month high of $221.11.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.71. The company had revenue of $33.47 billion during the quarter, compared to analyst estimates of $31.94 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. Marathon Petroleum’s revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.98 earnings per share. Equities analysts anticipate that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum announced that its board has initiated a share buyback program on Tuesday, November 5th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio (DPR) is 36.66%.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell purchased 6,000 shares of Marathon Petroleum stock in a transaction dated 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 transaction, the director now owns 6,090 shares of the company’s stock, 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 can be accessed through this link. Company insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on MPC shares. Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. Wells Fargo & Company raised their price target on shares of Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Raymond James upped their price objective on shares of Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a research note on Friday, January 17th. Mizuho decreased their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Finally, Barclays dropped their price target on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $181.27.

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.