Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Saxon Interests Inc.

Saxon Interests Inc. lessened its stake in Marathon Petroleum Co. (NYSE:MPC) by 11.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,799 shares of the oil and gas company’s stock after selling 1,056 shares during the period. Saxon Interests Inc.’s holdings in Marathon Petroleum were worth $1,088,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Marathon Petroleum by 0.9% in the second quarter. EverSource Wealth Advisors LLC now owns 7,165 shares of the oil and gas company’s stock valued at $1,268,000 after acquiring an additional 61 shares in the last quarter. Paragon Capital Management Inc. increased its position in shares of Marathon Petroleum by 0.6% during the 2nd quarter. Paragon Capital Management Inc. now owns 10,196 shares of the oil and gas company’s stock valued at $1,769,000 after purchasing an additional 65 shares during the period. Catalyst Financial Partners LLC raised its stake in shares of Marathon Petroleum by 1.6% in the 3rd quarter. Catalyst Financial Partners LLC now owns 4,285 shares of the oil and gas company’s stock worth $698,000 after buying an additional 67 shares in the last quarter. American Trust lifted its holdings in shares of Marathon Petroleum by 5.3% in the third quarter. American Trust now owns 1,397 shares of the oil and gas company’s stock valued at $228,000 after buying an additional 70 shares during the period. Finally, Financial Partners Group LLC boosted its stake in Marathon Petroleum by 3.3% during the third quarter. Financial Partners Group LLC now owns 2,220 shares of the oil and gas company’s stock valued at $362,000 after buying an additional 71 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Trading Down 0.8 %

Marathon Petroleum stock opened at $150.44 on Friday. Marathon Petroleum Co. has a 12 month low of $130.54 and a 12 month high of $221.11. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The stock has a market cap of $48.35 billion, a P/E ratio of 11.89, a P/E/G ratio of 2.51 and a beta of 1.42. The company’s fifty day simple moving average is $147.82 and its 200-day simple moving average is $159.52.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.90. The company had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The business’s revenue was down 14.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.14 EPS. As a group, sell-side analysts forecast that Marathon Petroleum Co. will post 9.38 EPS for the current fiscal year.

Marathon Petroleum declared that its board has approved a share buyback plan 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 reacquire up to 10% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Marathon Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.42%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, November 20th. Marathon Petroleum’s payout ratio is currently 28.84%.

Insider Activity

In related news, Director Jeffrey C. Campbell acquired 6,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were acquired at an average price of $149.61 per share, with a total value of $897,660.00. Following the acquisition, the director now 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 legal filing with the SEC, which can be accessed through this link. 0.21% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MPC shares. Citigroup cut their price target on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Barclays decreased their price target on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. TD Cowen reissued a “buy” rating and set a $170.00 price objective on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Wells Fargo & Company cut their target price on Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Finally, Mizuho decreased 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. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $183.73.

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.