Anchor Capital Advisors LLC Reduces Holdings in Marathon Petroleum Co. (NYSE:MPC)

Anchor Capital Advisors LLC reduced its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,019 shares of the oil and gas company’s stock after selling 373 shares during the period. Anchor Capital Advisors LLC’s holdings in Marathon Petroleum were worth $10,186,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wellington Management Group LLP raised its holdings in Marathon Petroleum by 342.1% in the 3rd quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock worth $911,274,000 after purchasing an additional 4,328,470 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Marathon Petroleum by 7.0% during the 4th quarter. Bank of New York Mellon Corp now owns 4,803,951 shares of the oil and gas company’s stock valued at $670,151,000 after buying an additional 315,786 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Marathon Petroleum by 22.3% during the 4th quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company’s stock valued at $495,595,000 after acquiring an additional 647,045 shares during the period. Bank of Montreal Can increased its holdings in Marathon Petroleum by 45.4% in the 3rd quarter. Bank of Montreal Can now owns 1,329,422 shares of the oil and gas company’s stock worth $217,560,000 after acquiring an additional 415,368 shares in the last quarter. Finally, National Pension Service lifted its holdings in Marathon Petroleum by 3.1% during the third quarter. National Pension Service now owns 977,250 shares of the oil and gas company’s stock valued at $159,204,000 after purchasing an additional 29,008 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Buying and Selling

In related news, Director Jeffrey C. Campbell bought 6,000 shares of the company’s stock in a transaction 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 purchase, the director now directly owns 6,090 shares of the company’s stock, valued at approximately $911,124.90. The trade was a 6,666.67 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MPC has been the topic of a number of analyst reports. Mizuho lowered their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Raymond James boosted their target price on shares of Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a report on Friday, January 17th. Tudor Pickering raised Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. TD Cowen reissued a “buy” rating and set a $170.00 price target on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Finally, Barclays reduced their price objective on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average target price of $181.27.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC opened at $148.06 on Friday. Marathon Petroleum Co. has a 12 month low of $130.54 and a 12 month high of $221.11. The firm’s 50-day moving average is $147.82 and its 200 day moving average is $155.94. The company has a market capitalization of $47.59 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 3.11 and a beta of 1.41. 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 (NYSE:MPC) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. The firm had revenue of $33.47 billion during the quarter, compared to analyst estimates of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. Marathon Petroleum’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period last year, the company earned $3.98 EPS. Research analysts predict that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date is Wednesday, February 19th. Marathon Petroleum’s payout ratio is presently 36.66%.

Marathon Petroleum announced that its Board of Directors has authorized a share buyback 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 purchase up to 10% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

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.