New York Life Investment Management LLC Sells 1,948 Shares of Marathon Petroleum Co. (NYSE:MPC)

New York Life Investment Management LLC decreased its stake in Marathon Petroleum Co. (NYSE:MPC) by 3.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,117 shares of the oil and gas company’s stock after selling 1,948 shares during the period. New York Life Investment Management LLC’s holdings in Marathon Petroleum were worth $6,712,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of MPC. Pallas Capital Advisors LLC grew its holdings in shares of Marathon Petroleum by 34.0% in the 3rd quarter. Pallas Capital Advisors LLC now owns 2,235 shares of the oil and gas company’s stock valued at $342,000 after acquiring an additional 567 shares in the last quarter. Diversify Wealth Management LLC grew its holdings in shares of Marathon Petroleum by 14.9% in the 3rd quarter. Diversify Wealth Management LLC now owns 3,790 shares of the oil and gas company’s stock valued at $583,000 after acquiring an additional 492 shares in the last quarter. Reston Wealth Management LLC grew its holdings in shares of Marathon Petroleum by 6.6% in the 3rd quarter. Reston Wealth Management LLC now owns 1,450 shares of the oil and gas company’s stock valued at $236,000 after acquiring an additional 90 shares in the last quarter. Americana Partners LLC bought a new position in shares of Marathon Petroleum in the 3rd quarter valued at about $411,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of Marathon Petroleum by 42.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,459 shares of the oil and gas company’s stock valued at $564,000 after acquiring an additional 1,038 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

MPC has been the subject of several recent analyst reports. Barclays cut their target price on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Mizuho cut their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Raymond James raised their target price 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. Wells Fargo & Company raised their target price on shares of Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Finally, Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $181.27.

Marathon Petroleum Trading Up 1.4 %

Shares of MPC stock opened at $150.07 on Friday. Marathon Petroleum Co. has a 12-month low of $130.54 and a 12-month high of $221.11. The firm has a 50 day moving average price of $148.15 and a two-hundred day moving average price of $155.76. The company has a market capitalization of $48.23 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 3.11 and a beta of 1.41. 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 announced its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 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 company had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $31.94 billion. During the same period last year, the firm earned $3.98 earnings per share. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. As a group, analysts predict that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th will be issued 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 dividend yield of 2.43%. Marathon Petroleum’s dividend payout ratio is presently 36.66%.

Marathon Petroleum declared that its Board of Directors has initiated a share repurchase plan 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 repurchase up to 10% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Marathon Petroleum

In other news, Director Jeffrey C. Campbell acquired 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were acquired 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 $911,124.90. The trade was a 6,666.67 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.21% of the company’s stock.

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.