Aviva PLC Trims Position in Marathon Petroleum Co. (NYSE:MPC)

Aviva PLC lessened its holdings in Marathon Petroleum Co. (NYSE:MPC) by 1.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 151,341 shares of the oil and gas company’s stock after selling 2,820 shares during the quarter. Aviva PLC’s holdings in Marathon Petroleum were worth $21,112,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in MPC. Wellington Management Group LLP raised its stake in Marathon Petroleum by 78.1% during the 4th quarter. Wellington Management Group LLP now owns 9,961,503 shares of the oil and gas company’s stock valued at $1,389,630,000 after purchasing an additional 4,367,774 shares during the period. Norges Bank bought a new stake in shares of Marathon Petroleum during the fourth quarter valued at approximately $453,427,000. Boston Partners lifted its holdings in shares of Marathon Petroleum by 37.4% in the fourth quarter. Boston Partners now owns 3,436,704 shares of the oil and gas company’s stock worth $480,501,000 after buying an additional 935,042 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Marathon Petroleum by 22.3% during the fourth quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company’s stock worth $495,595,000 after acquiring an additional 647,045 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Marathon Petroleum by 1,204.8% during the fourth 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 acquiring an additional 501,441 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Trading Up 0.2 %

MPC stock opened at $121.37 on Tuesday. Marathon Petroleum Co. has a 12 month low of $115.10 and a 12 month high of $219.74. The firm’s 50-day moving average is $146.78 and its 200 day moving average is $150.26. The company has a market capitalization of $37.81 billion, a PE ratio of 12.22, a P/E/G ratio of 3.11 and a beta of 1.04. 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 (NYSE:MPC) last issued its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The business had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. During the same period last year, the company posted $3.98 earnings per share. The company’s quarterly revenue was down 9.1% compared to the same quarter last year. On average, research analysts anticipate that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 19th were issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 3.00%. The ex-dividend date was Wednesday, February 19th. Marathon Petroleum’s payout ratio is 36.66%.

Insider Buying and Selling

In other news, insider Ricky D. Hessling purchased 2,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the acquisition, the insider now owns 12,162 shares of the company’s stock, valued at approximately $1,638,464.64. This represents a 19.68 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Evan Bayh acquired 1,000 shares of Marathon Petroleum stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average price of $133.70 per share, with a total value of $133,700.00. Following the purchase, the director now owns 69,305 shares in the company, valued at $9,266,078.50. This represents a 1.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.21% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on MPC shares. Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Barclays upped their price objective on Marathon Petroleum from $159.00 to $161.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Wells Fargo & Company raised their target price on shares of Marathon Petroleum from $183.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Piper Sandler lowered their price objective on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Finally, Mizuho decreased their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.29.

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.