Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Renaissance Group LLC

Renaissance Group LLC lessened its holdings in shares of Marathon Petroleum Co. (NYSE:MPCFree Report) by 18.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,961 shares of the oil and gas company’s stock after selling 432 shares during the quarter. Renaissance Group LLC’s holdings in Marathon Petroleum were worth $291,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in MPC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Marathon Petroleum during the fourth quarter worth $25,000. Bruce G. Allen Investments LLC purchased a new position in shares of Marathon Petroleum in the 4th quarter valued at about $32,000. Bare Financial Services Inc acquired a new position in shares of Marathon Petroleum during the fourth quarter worth about $32,000. Manchester Capital Management LLC increased its stake in shares of Marathon Petroleum by 97.2% during the fourth quarter. Manchester Capital Management LLC now owns 215 shares of the oil and gas company’s stock worth $32,000 after buying an additional 106 shares during the period. Finally, Pittenger & Anderson Inc. acquired a new stake in Marathon Petroleum in the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 1,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $170.35, for a total transaction of $170,350.00. Following the completion of the transaction, the director now owns 23,446 shares in the company, valued at approximately $3,994,026.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.21% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MPC has been the topic of a number of recent analyst reports. TD Cowen increased their price objective on shares of Marathon Petroleum from $168.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Mizuho raised their price target on Marathon Petroleum from $200.00 to $203.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Piper Sandler lowered their price objective on Marathon Petroleum from $204.00 to $190.00 and set a “neutral” rating for the company in a research report on Tuesday, May 14th. Bank of America raised their target price on Marathon Petroleum from $185.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Finally, Wells Fargo & Company increased their price target on shares of Marathon Petroleum from $214.00 to $227.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.77.

Get Our Latest Stock Report on Marathon Petroleum

Marathon Petroleum Stock Performance

NYSE MPC traded down $2.04 during trading on Wednesday, reaching $174.54. The company’s stock had a trading volume of 313,306 shares, compared to its average volume of 2,704,179. The business’s fifty day moving average price is $194.99 and its 200-day moving average price is $170.67. Marathon Petroleum Co. has a twelve month low of $104.32 and a twelve month high of $221.11. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 1.43. The firm has a market cap of $61.50 billion, a price-to-earnings ratio of 8.82, a P/E/G ratio of 1.49 and a beta of 1.55.

Marathon Petroleum (NYSE:MPCGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.25. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The firm had revenue of $32.71 billion for the quarter, compared to analysts’ expectations of $32.07 billion. During the same quarter in the previous year, the firm posted $6.09 EPS. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. As a group, analysts anticipate that Marathon Petroleum Co. will post 19.7 EPS for the current fiscal year.

Marathon Petroleum announced that its board has authorized a share buyback plan on Tuesday, April 30th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be issued a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio is presently 16.48%.

About Marathon Petroleum

(Free Report)

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.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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