Graypoint LLC Sells 363 Shares of Marathon Petroleum Co. (NYSE:MPC)

Graypoint LLC cut its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 12.6% in the 4th quarter, HoldingsChannel reports. The fund owned 2,509 shares of the oil and gas company’s stock after selling 363 shares during the quarter. Graypoint LLC’s holdings in Marathon Petroleum were worth $350,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of MPC. Oppenheimer Asset Management Inc. grew its holdings in shares of Marathon Petroleum by 27.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company’s stock worth $7,033,000 after purchasing an additional 9,355 shares during the last quarter. Wilmington Savings Fund Society FSB grew its holdings in Marathon Petroleum by 747.3% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company’s stock worth $3,466,000 after acquiring an additional 18,764 shares during the last quarter. Holistic Planning LLC purchased a new position in shares of Marathon Petroleum in the third quarter valued at about $912,000. World Investment Advisors LLC raised its stake in shares of Marathon Petroleum by 4,227.5% during the third quarter. World Investment Advisors LLC now owns 69,759 shares of the oil and gas company’s stock valued at $11,364,000 after acquiring an additional 68,147 shares during the last quarter. Finally, Magnolia Capital Advisors LLC boosted its holdings in shares of Marathon Petroleum by 353.4% during the second quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock worth $9,713,000 after purchasing an additional 43,639 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. BMO Capital Markets lowered their price target on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Scotiabank dropped their price target on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. TD Cowen reissued a “buy” rating and set a $170.00 price objective on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Morgan Stanley dropped 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 report on Monday, September 16th. Finally, Citigroup decreased their price target on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $183.73.

Marathon Petroleum Stock Up 0.2 %

Shares of Marathon Petroleum stock opened at $142.55 on Friday. The company has a 50-day simple moving average of $147.84 and a two-hundred day simple moving average of $160.02. Marathon Petroleum Co. has a 52-week low of $130.54 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 stock has a market capitalization of $45.81 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 2.56 and a beta of 1.42.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.90. The business had revenue of $35.37 billion for the quarter, compared to analysts’ expectations of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The firm’s quarterly revenue was down 14.9% on a year-over-year basis. During the same period in the prior year, the firm posted $8.14 EPS. On average, analysts anticipate that Marathon Petroleum Co. will post 9.47 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.55%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, November 20th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 28.84%.

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

Insiders Place Their Bets

In related news, Director Jeffrey C. Campbell bought 6,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was acquired at an average cost 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. This represents a 6,666.67 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.21% of the stock is owned by 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.