Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Holocene Advisors LP

Holocene Advisors LP lowered its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 99.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,526 shares of the oil and gas company’s stock after selling 349,595 shares during the period. Holocene Advisors LP’s holdings in Marathon Petroleum were worth $412,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Gladius Capital Management LP bought a new position in Marathon Petroleum in the 3rd quarter worth about $26,000. MeadowBrook Investment Advisors LLC grew its holdings in 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 worth $28,000 after buying an additional 80 shares in the last quarter. True Wealth Design LLC increased its position 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 acquiring an additional 148 shares during the period. Harbor Capital Advisors Inc. bought a new stake in Marathon Petroleum during the 3rd quarter valued at $30,000. Finally, TruNorth Capital Management LLC acquired a new position in Marathon Petroleum during the 2nd quarter worth $35,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Activity

In related news, Director Jeffrey C. Campbell purchased 6,000 shares of the stock in a transaction dated 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 acquisition, the director now directly owns 6,090 shares in the company, valued at approximately $911,124.90. The trade was a 6,666.67 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.21% of the stock is owned by corporate insiders.

Marathon Petroleum Stock Performance

Marathon Petroleum stock opened at $150.94 on Friday. Marathon Petroleum Co. has a fifty-two week low of $140.98 and a fifty-two week high of $221.11. The firm’s 50 day simple moving average is $156.96 and its 200-day simple moving average is $165.94. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The company has a market cap of $48.51 billion, a P/E ratio of 11.96, a price-to-earnings-growth ratio of 2.61 and a beta of 1.39.

Marathon Petroleum (NYSE:MPC) last announced its 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 company had revenue of $35.37 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $8.14 EPS. As a group, equities research analysts predict that Marathon Petroleum Co. will post 9.5 EPS for the current year.

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

Marathon Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Wednesday, November 20th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s payout ratio is 28.84%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. TD Cowen cut their price objective on shares of Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. BMO Capital Markets reduced their price target 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. Tudor, Pickering, Holt & Co. lowered shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research note on Monday, September 9th. Morgan Stanley cut their target price on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Finally, Mizuho lowered their price target on Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. 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 given a strong buy rating to the company. According to MarketBeat.com, Marathon Petroleum has an average rating of “Moderate Buy” and an average target price of $185.07.

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.