Allworth Financial LP Sells 147 Shares of Marathon Petroleum Co. (NYSE:MPC)

Allworth Financial LP decreased its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,302 shares of the oil and gas company’s stock after selling 147 shares during the quarter. Allworth Financial LP’s holdings in Marathon Petroleum were worth $1,816,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Assenagon Asset Management S.A. lifted its stake 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 valued at $75,757,000 after purchasing an additional 501,441 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Marathon Petroleum by 27.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company’s stock worth $7,033,000 after buying an additional 9,355 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in shares of Marathon Petroleum by 747.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company’s stock valued at $3,466,000 after acquiring an additional 18,764 shares in the last quarter. Holistic Planning LLC bought a new stake in Marathon Petroleum during the 3rd quarter worth $912,000. Finally, World Investment Advisors LLC raised its position in Marathon Petroleum by 4,227.5% in the third quarter. World Investment Advisors LLC now owns 69,759 shares of the oil and gas company’s stock valued at $11,364,000 after purchasing an additional 68,147 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Insiders Place Their Bets

In other Marathon Petroleum news, Director Jeffrey C. Campbell acquired 6,000 shares of the stock in a transaction on 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 completion of the acquisition, the director now owns 6,090 shares in the company, valued at approximately $911,124.90. This represents a 6,666.67 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

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

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $159.25 on Wednesday. The stock’s 50 day moving average price is $146.06 and its two-hundred day moving average price is $156.67. The stock has a market capitalization of $51.18 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 2.91 and a beta of 1.41. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. Marathon Petroleum Co. has a 52-week low of $130.54 and a 52-week high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $31.94 billion. During the same period last year, the company posted $3.98 earnings per share. The business’s quarterly revenue was down 9.1% on a year-over-year basis. On average, equities analysts predict that Marathon Petroleum Co. will post 8.7 earnings per share for the current year.

Marathon Petroleum announced that its board has authorized a share 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 36.66%.

Marathon Petroleum 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.