Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI cut its holdings in Marathon Petroleum Co. (NYSE:MPC) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,921 shares of the oil and gas company’s stock after selling 138 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Marathon Petroleum were worth $1,105,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Gladius Capital Management LP purchased a new position in Marathon Petroleum during the third quarter worth $26,000. MeadowBrook Investment Advisors LLC increased its position 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 worth $28,000 after purchasing an additional 80 shares in the last quarter. True Wealth Design LLC raised its stake in Marathon Petroleum by 672.7% in the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 148 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in Marathon Petroleum in the 3rd quarter valued at about $30,000. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Marathon Petroleum during the third quarter worth about $33,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell purchased 6,000 shares of Marathon Petroleum stock in a transaction that occurred on Wednesday, December 4th. The stock was purchased at an average price of $149.61 per share, with a total value of $897,660.00. Following the completion of the acquisition, the director now owns 6,090 shares of the company’s stock, valued at approximately $911,124.90. This trade represents a 6,666.67 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.21% of the company’s stock.

Marathon Petroleum Stock Up 0.7 %

Shares of NYSE MPC opened at $152.69 on Tuesday. The stock has a fifty day moving average price of $147.18 and a 200 day moving average price of $158.52. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a 12-month low of $130.54 and a 12-month high of $221.11. The company has a market cap of $49.07 billion, a P/E ratio of 12.10, a P/E/G ratio of 2.88 and a beta of 1.42.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 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 the consensus estimate of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The company’s revenue was down 14.9% on a year-over-year basis. During the same period last year, the business posted $8.14 EPS. Research analysts anticipate that Marathon Petroleum Co. will post 8.88 EPS for the current fiscal year.

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

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th will be paid a $0.91 dividend. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 annualized dividend and a dividend yield of 2.38%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 28.84%.

Analysts Set New Price Targets

Several research firms have commented on MPC. TD Cowen reaffirmed a “buy” rating and issued a $170.00 target price on shares of Marathon Petroleum in a research note on Tuesday, December 10th. JPMorgan Chase & Co. lowered their price objective on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Barclays reduced their target price on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Citigroup lowered their price target on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Finally, Wells Fargo & Company cut their price objective on shares of Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given 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 a consensus target price of $181.20.

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.