Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Empirical Finance LLC

Empirical Finance LLC cut its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 0.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 17,979 shares of the oil and gas company’s stock after selling 134 shares during the period. Empirical Finance LLC’s holdings in Marathon Petroleum were worth $2,508,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of MPC. Gladius Capital Management LP purchased a new stake in Marathon Petroleum during the 3rd quarter worth approximately $26,000. MeadowBrook Investment Advisors LLC increased its holdings 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 acquiring an additional 80 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of 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 acquiring an additional 148 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Marathon Petroleum in the 3rd quarter valued at approximately $30,000. Finally, Darwin Wealth Management LLC bought a new stake in shares of Marathon Petroleum in the 3rd quarter valued at approximately $33,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Performance

MPC opened at $150.13 on Friday. The company has a market cap of $48.25 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 2.91 and a beta of 1.41. The stock has a 50-day moving average of $145.91 and a 200-day moving average of $157.63. 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.

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 (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.71. The company had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The firm’s revenue was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.98 EPS. As a group, equities research analysts forecast that Marathon Petroleum Co. will post 8.7 earnings per share for the current fiscal year.

Marathon Petroleum announced that its Board of Directors has approved a share buyback program on Tuesday, November 5th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the oil and gas company to buy up to 10% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be paid a dividend of $0.91 per share. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 annualized dividend and a yield of 2.42%. Marathon Petroleum’s payout ratio is 36.66%.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell bought 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was purchased at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the purchase, the director now directly 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 filing with the Securities & Exchange Commission, which is accessible through this link. 0.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MPC shares. Raymond James boosted their price target on Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a report on Friday, January 17th. Mizuho reduced their price target on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. TD Cowen reiterated a “buy” rating and set a $170.00 price target on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company upped their price objective on Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average target price of $181.27.

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.