Crossmark Global Holdings Inc. Has $8.74 Million Stake in Marathon Petroleum Co. (NYSE:MPC)

Crossmark Global Holdings Inc. cut its holdings in Marathon Petroleum Co. (NYSE:MPC) by 8.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,685 shares of the oil and gas company’s stock after selling 6,140 shares during the period. Crossmark Global Holdings Inc.’s holdings in Marathon Petroleum were worth $8,744,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MPC. Gladius Capital Management LP bought a new stake in Marathon Petroleum in the third quarter worth approximately $26,000. MeadowBrook Investment Advisors LLC increased its stake in shares of 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 valued at $28,000 after acquiring an additional 80 shares in the last quarter. True Wealth Design LLC lifted its position in shares of Marathon Petroleum by 672.7% during 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 position in Marathon Petroleum during the third quarter worth $30,000. Finally, Darwin Wealth Management LLC acquired a new stake in Marathon Petroleum in the third quarter worth $33,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Down 1.2 %

MPC stock opened at $150.82 on Wednesday. Marathon Petroleum Co. has a 1-year low of $130.54 and a 1-year high of $221.11. The stock has a market cap of $48.47 billion, a P/E ratio of 11.95, a P/E/G ratio of 2.93 and a beta of 1.42. The stock’s fifty day simple moving average is $147.70 and its two-hundred day simple moving average is $158.94. 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 results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.90. The company had revenue of $35.37 billion during the quarter, compared to analyst estimates of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The firm’s revenue for the quarter was down 14.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $8.14 earnings per share. Analysts expect that Marathon Petroleum Co. will post 8.88 EPS for the current year.

Marathon Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors 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 2.41%. The ex-dividend date was 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%.

Marathon Petroleum announced that its board has approved a stock buyback plan on Tuesday, November 5th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to repurchase up to 10% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MPC. Barclays cut their price objective 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 issued a $170.00 price objective on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Citigroup lowered their target price on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Mizuho reduced their price target on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Finally, Wells Fargo & Company lowered their price objective on shares of Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, six 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 MarketBeat, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and an average target price of $181.20.

Insider Activity at Marathon Petroleum

In other news, Director Jeffrey C. Campbell purchased 6,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were purchased at an average price of $149.61 per share, with a total value of $897,660.00. Following the transaction, the director now directly owns 6,090 shares of the company’s stock, valued at approximately $911,124.90. This represents 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 accessible through the SEC website. 0.21% of the stock is owned by company insiders.

Marathon Petroleum Company 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.