Keynote Financial Services LLC Sells 284 Shares of Marathon Petroleum Co. (NYSE:MPC)

Keynote Financial Services LLC cut its stake in Marathon Petroleum Co. (NYSE:MPC) by 3.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,248 shares of the oil and gas company’s stock after selling 284 shares during the period. Keynote Financial Services LLC’s holdings in Marathon Petroleum were worth $1,011,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MPC. Gladius Capital Management LP bought a new stake in shares of Marathon Petroleum in the 3rd quarter valued at $26,000. MeadowBrook Investment Advisors LLC lifted its holdings in Marathon Petroleum by 88.9% in the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 80 shares during the period. True Wealth Design LLC boosted its position in Marathon Petroleum by 672.7% during the third 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 last quarter. Harbor Capital Advisors Inc. acquired a new stake in Marathon Petroleum during the 3rd quarter worth about $30,000. Finally, Darwin Wealth Management LLC bought a new position in shares of Marathon Petroleum in the 3rd quarter worth about $33,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on MPC shares. Wells Fargo & Company upped their target price on Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Barclays cut their price target on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Raymond James increased their target price on shares of Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 17th. Finally, Mizuho decreased 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 note on Monday, December 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average target price of $181.27.

Marathon Petroleum Trading Up 1.4 %

MPC opened at $150.07 on Friday. The firm has a market capitalization of $48.23 billion, a PE ratio of 15.11, a P/E/G ratio of 3.11 and a beta of 1.41. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. Marathon Petroleum Co. has a fifty-two week low of $130.54 and a fifty-two week high of $221.11. The company’s 50-day moving average is $148.15 and its 200 day moving average is $155.62.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.06 by $0.71. The firm had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The company’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.98 earnings per share. As a group, research analysts predict that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio is 36.66%.

Marathon Petroleum declared that its board has authorized a stock buyback program on Tuesday, November 5th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to buy up to 10% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Marathon Petroleum news, Director Jeffrey C. Campbell bought 6,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were purchased 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 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.21% of the stock is currently owned by 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.