Marathon Petroleum Co. (NYSE:MPC) Stock Holdings Lowered by Consolidated Planning Corp

Consolidated Planning Corp trimmed its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 14.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,179 shares of the oil and gas company’s stock after selling 5,599 shares during the period. Consolidated Planning Corp’s holdings in Marathon Petroleum were worth $4,768,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Assenagon Asset Management S.A. raised 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 during the period. Oppenheimer Asset Management Inc. raised its holdings in Marathon Petroleum by 27.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company’s stock worth $7,033,000 after buying an additional 9,355 shares during the period. Wilmington Savings Fund Society FSB lifted its stake 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 buying an additional 18,764 shares in the last quarter. Holistic Planning LLC acquired a new position in shares of Marathon Petroleum in the third quarter worth about $912,000. Finally, World Investment Advisors LLC increased its position in shares of Marathon Petroleum by 4,227.5% in the third quarter. World Investment Advisors LLC now owns 69,759 shares of the oil and gas company’s stock worth $11,364,000 after acquiring an additional 68,147 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on MPC. Bank of America initiated coverage on shares of Marathon Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price objective for the company. Wells Fargo & Company raised their target price on Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report 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 research note on Friday, January 17th. Finally, TD Cowen reaffirmed a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Marathon Petroleum 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 bought 6,000 shares of Marathon Petroleum stock in a transaction that occurred on Wednesday, December 4th. The stock was purchased at an average cost of $149.61 per share, with a total value of $897,660.00. Following the completion of the transaction, the director now directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.21% of the company’s stock.

Marathon Petroleum Trading Down 3.9 %

Marathon Petroleum stock opened at $149.26 on Thursday. The business’s 50-day simple moving average is $145.84 and its 200-day simple moving average is $157.27. Marathon Petroleum Co. has a 52 week low of $130.54 and a 52 week high of $221.11. The firm has a market capitalization of $47.97 billion, a PE ratio of 15.03, a PEG ratio of 2.91 and a beta of 1.41. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.71. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The business had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $31.94 billion. During the same quarter last year, the company posted $3.98 earnings per share. Marathon Petroleum’s quarterly revenue was down 9.1% on a year-over-year basis. Equities research analysts forecast that Marathon Petroleum Co. will post 8.7 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.64 annualized dividend and a yield of 2.44%. Marathon Petroleum’s dividend payout ratio is 36.66%.

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

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.