Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Alan B Lancz & Associates Inc.

Alan B Lancz & Associates Inc. decreased its holdings in Marathon Petroleum Co. (NYSE:MPC) by 19.8% in the fourth quarter, Holdings Channel reports. The fund owned 4,050 shares of the oil and gas company’s stock after selling 1,000 shares during the period. Alan B Lancz & Associates Inc.’s holdings in Marathon Petroleum were worth $565,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP lifted its position in Marathon Petroleum by 342.1% during the third quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock worth $911,274,000 after buying an additional 4,328,470 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Marathon Petroleum by 19,153.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company’s stock worth $213,605,000 after acquiring an additional 1,304,372 shares during the period. ING Groep NV purchased a new stake in shares of Marathon Petroleum in the third quarter valued at about $114,107,000. National Bank of Canada FI increased its position in Marathon Petroleum by 212.9% during the third quarter. National Bank of Canada FI now owns 846,756 shares of the oil and gas company’s stock worth $137,945,000 after purchasing an additional 576,119 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Marathon Petroleum by 1,204.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock worth $75,757,000 after purchasing an additional 501,441 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Marathon Petroleum

In related news, Director Jeffrey C. Campbell acquired 6,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were bought 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 in the company, valued at $911,124.90. This trade represents a 6,666.67 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.21% of the company’s stock.

Marathon Petroleum Stock Down 1.9 %

Shares of NYSE:MPC opened at $151.43 on Friday. 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 fifty-two week low of $130.54 and a fifty-two week high of $221.11. The stock has a market cap of $48.67 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 2.88 and a beta of 1.42. The firm’s 50 day moving average price is $147.18 and its 200 day moving average price is $158.58.

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, topping the consensus estimate of $0.97 by $0.90. The business had revenue of $35.37 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 14.9% on a year-over-year basis. During the same period in the previous year, the company earned $8.14 EPS. As a group, equities research analysts predict that Marathon Petroleum Co. will post 8.88 earnings per share for the current fiscal year.

Marathon Petroleum announced that its board has approved a share buyback 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 reacquire up to 10% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th were issued a $0.91 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.40%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio is presently 28.84%.

Analyst Ratings Changes

MPC has been the subject of a number of recent analyst reports. TD Cowen restated a “buy” rating and set a $170.00 price target on shares of Marathon Petroleum in a report on Tuesday, December 10th. Citigroup decreased their price target on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Bank of America assumed coverage on shares of Marathon Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price objective on the stock. BMO Capital Markets lowered their target price on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a research note 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 on the stock in a report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average target price of $181.20.

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.