Amalgamated Bank Sells 4,489 Shares of Marathon Petroleum Co. (NYSE:MPC)

Amalgamated Bank reduced its holdings in Marathon Petroleum Co. (NYSE:MPC) by 6.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 62,201 shares of the oil and gas company’s stock after selling 4,489 shares during the quarter. Amalgamated Bank’s holdings in Marathon Petroleum were worth $8,677,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in MPC. Gladius Capital Management LP bought a new stake in Marathon Petroleum in the third quarter valued at $26,000. MeadowBrook Investment Advisors LLC lifted its position in shares of Marathon Petroleum by 88.9% in the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 80 shares during the period. True Wealth Design LLC boosted its stake in shares of Marathon Petroleum by 672.7% during the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 148 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Marathon Petroleum during the third quarter valued at about $30,000. Finally, Darwin Wealth Management LLC bought a new position in Marathon Petroleum in the third quarter worth about $33,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Jeffrey C. Campbell purchased 6,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were purchased at an average price of $149.61 per share, with a total value of $897,660.00. Following the acquisition, the director now directly owns 6,090 shares in the company, valued at $911,124.90. The trade was a 6,666.67 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.21% of the stock is owned by corporate insiders.

Marathon Petroleum Trading Down 1.4 %

Shares of NYSE MPC opened at $150.60 on Wednesday. The firm’s 50 day moving average price is $147.27 and its 200-day moving average price is $156.07. Marathon Petroleum Co. has a 52-week low of $130.54 and a 52-week high of $221.11. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The company 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 (NYSE:MPC) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.71. The business had revenue of $33.47 billion for 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%. The firm’s quarterly revenue was down 9.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.98 EPS. On average, equities research analysts expect that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.

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

Marathon Petroleum Dividend Announcement

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

Wall Street Analyst Weigh In

MPC has been the topic of several research reports. Mizuho cut their price objective on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Tudor Pickering raised Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Raymond James increased their price objective on Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a report on Friday, January 17th. TD Cowen restated a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a report on Tuesday, December 10th. Finally, Wells Fargo & Company increased 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. 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 given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus 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.