Mutual of America Capital Management LLC Decreases Stake in Marathon Petroleum Co. (NYSE:MPC)

Mutual of America Capital Management LLC reduced its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 5.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 42,885 shares of the oil and gas company’s stock after selling 2,711 shares during the period. Mutual of America Capital Management LLC’s holdings in Marathon Petroleum were worth $5,982,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP boosted its holdings in Marathon Petroleum by 342.1% in the 3rd quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock worth $911,274,000 after buying an additional 4,328,470 shares during the period. ING Groep NV purchased a new position in Marathon Petroleum in the 3rd quarter worth $114,107,000. Pacer Advisors Inc. raised its position in Marathon Petroleum by 22.3% in the 4th quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company’s stock worth $495,595,000 after purchasing an additional 647,045 shares during the period. National Bank of Canada FI raised its position in Marathon Petroleum by 212.9% in the 3rd quarter. National Bank of Canada FI now owns 846,756 shares of the oil and gas company’s stock worth $137,945,000 after purchasing an additional 576,119 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in 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 worth $75,757,000 after acquiring an additional 501,441 shares during the last quarter. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Stock Performance

Shares of NYSE MPC opened at $145.75 on Tuesday. The firm has a 50 day moving average of $148.39 and a 200 day moving average of $155.21. 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 firm has a market capitalization of $46.84 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 3.11 and a beta of 1.41. Marathon Petroleum Co. has a 12-month low of $130.54 and a 12-month high of $221.11.

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

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

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th will be given a $0.91 dividend. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.50%. Marathon Petroleum’s payout ratio is currently 36.66%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MPC shares. Wells Fargo & Company lifted their target price on shares of Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Barclays decreased their target price on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a report on Monday, November 11th. TD Cowen reaffirmed a “buy” rating and issued a $170.00 target price on shares of Marathon Petroleum in a report on Tuesday, December 10th. Tudor Pickering raised shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. Finally, Raymond James lifted their target price on shares of Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $181.27.

About Marathon Petroleum

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.