Empowered Funds LLC Sells 14,711 Shares of Marathon Petroleum Co. (NYSE:MPC)

Empowered Funds LLC decreased its stake in Marathon Petroleum Co. (NYSE:MPC) by 6.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 226,996 shares of the oil and gas company’s stock after selling 14,711 shares during the quarter. Marathon Petroleum comprises 0.5% of Empowered Funds LLC’s portfolio, making the stock its 22nd biggest holding. Empowered Funds LLC owned about 0.07% of Marathon Petroleum worth $31,666,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Gladius Capital Management LP purchased a new position in shares of Marathon Petroleum in the 3rd quarter worth approximately $26,000. MeadowBrook Investment Advisors LLC boosted its holdings in Marathon Petroleum by 88.9% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 80 shares during the period. True Wealth Design LLC boosted its holdings in 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 acquiring an additional 148 shares during the period. Harbor Capital Advisors Inc. purchased a new position in Marathon Petroleum during the 3rd quarter valued at $30,000. Finally, Darwin Wealth Management LLC purchased a new position in Marathon Petroleum during the 3rd quarter valued at $33,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 1.2 %

Marathon Petroleum stock opened at $150.13 on Friday. The firm has a market cap of $48.25 billion, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 2.91 and a beta of 1.41. Marathon Petroleum Co. has a 52 week low of $130.54 and a 52 week high of $221.11. The business’s 50-day moving average price is $145.91 and its 200 day moving average price is $157.63. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.06 by $0.71. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The company had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. During the same period last year, the company earned $3.98 earnings per share. Marathon Petroleum’s quarterly revenue was down 9.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Marathon Petroleum Co. will post 8.7 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

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

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on MPC shares. Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. Raymond James upped their target price on Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a report on Friday, January 17th. Bank of America began coverage on Marathon Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 target price for the company. Wells Fargo & Company upped their target price on Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, TD Cowen reissued a “buy” rating and issued a $170.00 price target on shares of Marathon Petroleum in a research report on Tuesday, December 10th. One equities 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $181.27.

Insider Buying and Selling at Marathon Petroleum

In other news, Director Jeffrey C. Campbell purchased 6,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were purchased at an average cost of $149.61 per share, with a total value of $897,660.00. Following the completion of the purchase, the director now directly owns 6,090 shares of the company’s stock, valued at approximately $911,124.90. The trade was a 6,666.67 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.21% of the stock is owned by corporate insiders.

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.