UMB Bank n.a. Sells 31,701 Shares of Marathon Petroleum Co. (NYSE:MPC)

UMB Bank n.a. reduced its position in Marathon Petroleum Co. (NYSE:MPC) by 56.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 24,019 shares of the oil and gas company’s stock after selling 31,701 shares during the period. UMB Bank n.a.’s holdings in Marathon Petroleum were worth $3,351,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Gladius Capital Management LP acquired a new stake in Marathon Petroleum in the third quarter worth about $26,000. MeadowBrook Investment Advisors LLC boosted its stake in shares of Marathon Petroleum by 88.9% in the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 80 shares during the last quarter. True Wealth Design LLC grew its position in shares of Marathon Petroleum by 672.7% during the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after buying an additional 148 shares during the period. Harbor Capital Advisors Inc. bought a new stake in shares of Marathon Petroleum during the third quarter worth approximately $30,000. Finally, Darwin Wealth Management LLC acquired a new position in Marathon Petroleum in the third quarter valued at approximately $33,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 0.7 %

NYSE:MPC opened at $152.83 on Tuesday. 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 Co. has a twelve month low of $130.54 and a twelve month high of $221.11. The company has a market cap of $49.12 billion, a P/E ratio of 12.11, a price-to-earnings-growth ratio of 2.51 and a beta of 1.42. The business has a 50 day moving average price of $147.76 and a two-hundred day moving average price of $159.10.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results 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 firm had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The company’s revenue was down 14.9% compared to the same quarter last year. During the same period in the previous year, the business earned $8.14 EPS. As a group, analysts expect that Marathon Petroleum Co. will post 9.38 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.38%. 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 currently 28.84%.

Marathon Petroleum declared that its board has authorized a stock repurchase program on Tuesday, November 5th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

MPC has been the subject of several recent research reports. Wells Fargo & Company dropped their target price on shares of Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Bank of America started coverage on Marathon Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price objective for the company. TD Cowen restated a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a research report on Tuesday, December 10th. BMO Capital Markets cut their price target on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Finally, Scotiabank decreased their price objective on shares of Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $181.20.

Insiders Place Their Bets

In other news, Director Jeffrey C. Campbell bought 6,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were acquired at an average cost of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the acquisition, 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 SEC, which can be accessed through the SEC website. Insiders own 0.21% of the company’s stock.

About Marathon Petroleum

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.