CCM Investment Advisers LLC Sells 1,897 Shares of Marathon Petroleum Co. (NYSE:MPC)

CCM Investment Advisers LLC reduced its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 82,068 shares of the oil and gas company’s stock after selling 1,897 shares during the quarter. CCM Investment Advisers LLC’s holdings in Marathon Petroleum were worth $11,449,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MPC. Wellington Management Group LLP increased 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 valued at $911,274,000 after buying an additional 4,328,470 shares during the period. International Assets Investment Management LLC lifted its stake in Marathon Petroleum by 19,153.8% during the third 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 purchasing an additional 1,304,372 shares during the last quarter. ING Groep NV acquired a new stake in shares of Marathon Petroleum in the 3rd quarter valued at $114,107,000. National Bank of Canada FI increased its stake in shares of Marathon Petroleum by 212.9% in the 3rd quarter. National Bank of Canada FI now owns 846,756 shares of the oil and gas company’s stock valued at $137,945,000 after purchasing an additional 576,119 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in shares of Marathon Petroleum by 45.4% during 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 buying an additional 415,368 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Insider Buying and Selling at Marathon Petroleum

In related news, Director Jeffrey C. Campbell purchased 6,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was bought 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 approximately $911,124.90. This trade represents a 6,666.67 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MPC shares. JPMorgan Chase & Co. dropped their target price on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Morgan Stanley cut their price objective on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Bank of America initiated coverage on Marathon Petroleum in a report on Thursday, October 17th. They set a “neutral” rating and a $174.00 price target on the stock. TD Cowen reiterated a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Finally, Scotiabank dropped their price target on shares of Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $183.73.

Marathon Petroleum Stock Up 0.7 %

MPC stock traded up $0.96 during trading on Friday, reaching $143.29. 1,096,476 shares of the stock were exchanged, compared to its average volume of 2,613,984. The firm has a market cap of $46.05 billion, a P/E ratio of 11.35, a price-to-earnings-growth ratio of 2.56 and a beta of 1.42. Marathon Petroleum Co. has a twelve month low of $130.54 and a twelve month high of $221.11. The firm’s 50 day moving average is $147.86 and its 200 day moving average is $160.35. 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 posted its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, beating the consensus estimate of $0.97 by $0.90. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The firm had revenue of $35.37 billion during the quarter, compared to analyst estimates of $34.34 billion. During the same quarter last year, the business posted $8.14 EPS. The company’s revenue for the quarter was down 14.9% on a year-over-year basis. As a group, research analysts forecast that Marathon Petroleum Co. will post 9.47 EPS for the current year.

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 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 generally 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. Shareholders of record on Wednesday, November 20th were given a $0.91 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $3.64 annualized dividend and a yield of 2.54%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s payout ratio is currently 28.84%.

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.