Renaissance Technologies LLC Trims Stake in Marathon Petroleum Co. (NYSE:MPC)

Renaissance Technologies LLC trimmed its position in Marathon Petroleum Co. (NYSE:MPC) by 25.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 135,699 shares of the oil and gas company’s stock after selling 45,411 shares during the period. Renaissance Technologies LLC’s holdings in Marathon Petroleum were worth $18,930,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Marathon Petroleum in the 4th quarter worth about $27,000. Asset Planning Inc purchased a new stake in Marathon Petroleum in the fourth quarter worth about $28,000. Sierra Ocean LLC bought a new position in shares of Marathon Petroleum during the fourth quarter valued at approximately $31,000. Cape Investment Advisory Inc. lifted its holdings in shares of Marathon Petroleum by 762.9% during the fourth quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 267 shares during the last quarter. Finally, OFI Invest Asset Management bought a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $44,000. Institutional investors own 76.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on MPC. Raymond James lowered their price objective on Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating for the company in a research note on Wednesday, April 9th. Piper Sandler lowered their price target on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Scotiabank cut their price objective on shares of Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating on the stock in a research report on Friday. Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Finally, Barclays raised their price target on shares of Marathon Petroleum from $159.00 to $161.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $177.21.

Insider Activity

In other news, Director Evan Bayh bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average price of $133.70 per share, with a total value of $133,700.00. Following the acquisition, the director now owns 69,305 shares of the company’s stock, valued at approximately $9,266,078.50. This represents a 1.46 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ricky D. Hessling purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were acquired at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the completion of the acquisition, the insider now owns 12,162 shares of the company’s stock, valued at approximately $1,638,464.64. This trade represents a 19.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.21% of the company’s stock.

Marathon Petroleum Price Performance

NYSE MPC opened at $123.29 on Monday. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $38.41 billion, a P/E ratio of 12.42, a PEG ratio of 3.11 and a beta of 1.04. The company has a 50-day moving average price of $143.65 and a 200-day moving average price of $148.71. Marathon Petroleum Co. has a 52 week low of $115.10 and a 52 week high of $210.80.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.71. The business had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $31.94 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The company’s quarterly revenue was down 9.1% on a year-over-year basis. During the same period last year, the firm earned $3.98 earnings per share. Equities research analysts anticipate that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.95%. The ex-dividend date was Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 36.66%.

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.