Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Everpar Advisors LLC

Everpar Advisors LLC reduced its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 13.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,796 shares of the oil and gas company’s stock after selling 285 shares during the period. Everpar Advisors LLC’s holdings in Marathon Petroleum were worth $251,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Oppenheimer Asset Management Inc. increased its position in Marathon Petroleum by 27.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company’s stock valued at $7,033,000 after acquiring an additional 9,355 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Marathon Petroleum by 1,204.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock valued at $75,757,000 after purchasing an additional 501,441 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of Marathon Petroleum by 747.3% in the third quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company’s stock valued at $3,466,000 after purchasing an additional 18,764 shares during the period. Holistic Planning LLC purchased a new stake in shares of Marathon Petroleum during the third quarter worth approximately $912,000. Finally, World Investment Advisors LLC grew its position in Marathon Petroleum by 4,227.5% in the 3rd quarter. World Investment Advisors LLC now owns 69,759 shares of the oil and gas company’s stock valued at $11,364,000 after buying an additional 68,147 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Jeffrey C. Campbell bought 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was purchased at an average price of $149.61 per share, with a total value of $897,660.00. Following the purchase, the director now owns 6,090 shares of the company’s stock, valued at $911,124.90. This trade represents a 6,666.67 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

MPC has been the subject of a number of analyst reports. Raymond James upped their price objective on shares of Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a research report on Friday. Piper Sandler cut their price target on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Barclays lowered their price objective on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. TD Cowen reissued a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Finally, Bank of America initiated coverage on Marathon Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $181.20.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $152.83 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The company’s 50-day moving average price is $147.78 and its 200 day moving average price is $159.47. Marathon Petroleum Co. has a 52 week low of $130.54 and a 52 week high of $221.11. The stock has a market cap of $49.12 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 2.51 and a beta of 1.42.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results 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 business had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. During the same period in the prior year, the business earned $8.14 earnings per share. The company’s quarterly revenue was down 14.9% on a year-over-year basis. As a group, research analysts forecast that Marathon Petroleum Co. will post 9.38 earnings per share for the current fiscal year.

Marathon Petroleum declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, November 5th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to reacquire up to 10% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Marathon Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.38%. This is a boost 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 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.