CWA Asset Management Group LLC Cuts Holdings in Marathon Petroleum Co. (NYSE:MPC)

CWA Asset Management Group LLC lowered its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 73.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,407 shares of the oil and gas company’s stock after selling 6,500 shares during the quarter. CWA Asset Management Group LLC’s holdings in Marathon Petroleum were worth $336,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Wellington Management Group LLP lifted its stake in Marathon Petroleum by 342.1% during the third quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock worth $911,274,000 after purchasing an additional 4,328,470 shares during the last quarter. Pacer Advisors Inc. lifted its position in Marathon Petroleum by 8.8% in the 3rd quarter. Pacer Advisors Inc. now owns 2,905,610 shares of the oil and gas company’s stock worth $473,353,000 after buying an additional 235,795 shares during the last quarter. Bank of Montreal Can boosted its stake in Marathon Petroleum by 45.4% in the third quarter. Bank of Montreal Can now owns 1,329,422 shares of the oil and gas company’s stock worth $217,560,000 after buying an additional 415,368 shares in the last quarter. International Assets Investment Management LLC grew its position in Marathon Petroleum by 19,153.8% during the third quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company’s stock valued at $213,605,000 after acquiring an additional 1,304,372 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of Marathon Petroleum by 6.0% during the second quarter. Canada Pension Plan Investment Board now owns 1,285,248 shares of the oil and gas company’s stock worth $222,965,000 after acquiring an additional 72,192 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Stock Up 0.5 %

Shares of NYSE:MPC opened at $142.36 on Thursday. 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. The firm has a market capitalization of $45.75 billion, a P/E ratio of 11.28, a P/E/G ratio of 2.56 and a beta of 1.42. The stock has a 50 day moving average price of $147.92 and a 200-day moving average price of $160.47.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, beating the consensus estimate of $0.97 by $0.90. The business had revenue of $35.37 billion during the quarter, compared to analyst estimates of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The company’s revenue for the quarter was down 14.9% on a year-over-year basis. During the same quarter last year, the firm posted $8.14 earnings per share. As a group, equities research analysts anticipate that Marathon Petroleum Co. will post 9.47 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend was Wednesday, November 20th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio is 28.84%.

Marathon Petroleum declared that its Board of Directors has authorized a stock repurchase plan 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 repurchase up to 10% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MPC shares. Bank of America began coverage on shares of Marathon Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price objective for the company. BMO Capital Markets reduced their price objective on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Piper Sandler dropped their target price on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Citigroup decreased their price target on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. dropped their price objective on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $184.00.

Insider Buying and Selling at Marathon Petroleum

In related news, Director Jeffrey C. Campbell acquired 6,000 shares of Marathon Petroleum stock in a transaction that occurred on Wednesday, December 4th. The stock was bought at an average price of $149.61 per share, with a total value of $897,660.00. Following the transaction, the director now directly owns 6,090 shares in the company, 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 legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.21% of the company’s stock.

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.