XTX Topco Ltd Sells 2,868 Shares of Marathon Petroleum Co. (NYSE:MPC)

XTX Topco Ltd decreased its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 15.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 15,208 shares of the oil and gas company’s stock after selling 2,868 shares during the quarter. XTX Topco Ltd’s holdings in Marathon Petroleum were worth $2,478,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. WR Wealth Planners LLC boosted its stake in Marathon Petroleum by 15.2% during the 2nd quarter. WR Wealth Planners LLC now owns 431 shares of the oil and gas company’s stock worth $75,000 after acquiring an additional 57 shares during the last quarter. Legacy Advisors LLC boosted its position in shares of Marathon Petroleum by 5.0% during the second quarter. Legacy Advisors LLC now owns 1,238 shares of the oil and gas company’s stock worth $215,000 after purchasing an additional 59 shares in the last quarter. Latitude Advisors LLC grew its holdings in shares of Marathon Petroleum by 3.6% in the 2nd quarter. Latitude Advisors LLC now owns 1,714 shares of the oil and gas company’s stock valued at $297,000 after buying an additional 60 shares during the period. SouthState Corp raised its stake in Marathon Petroleum by 1.5% during the 2nd quarter. SouthState Corp now owns 4,122 shares of the oil and gas company’s stock worth $715,000 after buying an additional 61 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in Marathon Petroleum by 0.9% during the second quarter. EverSource Wealth Advisors LLC now owns 7,165 shares of the oil and gas company’s stock worth $1,268,000 after acquiring an additional 61 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on MPC. Scotiabank lowered their price target on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Barclays dropped their target price on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. BMO Capital Markets reduced their price target on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Piper Sandler dropped their price objective on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. Finally, Morgan Stanley reduced their target price on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $185.07.

Marathon Petroleum Price Performance

NYSE:MPC opened at $150.94 on Friday. The stock’s 50-day simple moving average is $157.21 and its 200 day simple moving average is $166.19. Marathon Petroleum Co. has a 52-week low of $140.98 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 $48.51 billion, a P/E ratio of 11.96, a P/E/G ratio of 2.61 and a beta of 1.39.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share 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 firm had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. During the same quarter in the previous year, the firm earned $8.14 EPS. The business’s quarterly revenue was down 14.9% on a year-over-year basis. As a group, sell-side analysts forecast that Marathon Petroleum Co. will post 9.5 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a yield of 2.41%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio (DPR) is currently 28.84%.

Marathon Petroleum announced that its board has initiated a share 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 reacquire up to 10% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell purchased 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were acquired at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the purchase, the director now owns 6,090 shares in the company, valued at approximately $911,124.90. The trade was a 6,666.67 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.21% of the stock is owned by company 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.