International Assets Investment Management LLC Sells 1,305,025 Shares of Marathon Petroleum Co. (NYSE:MPC)

International Assets Investment Management LLC decreased its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 99.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,157 shares of the oil and gas company’s stock after selling 1,305,025 shares during the quarter. International Assets Investment Management LLC’s holdings in Marathon Petroleum were worth $871,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in MPC. Oppenheimer Asset Management Inc. boosted its holdings in shares of Marathon Petroleum by 27.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company’s stock valued at $7,033,000 after acquiring an additional 9,355 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in Marathon Petroleum by 747.3% in the third quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company’s stock worth $3,466,000 after purchasing an additional 18,764 shares during the last quarter. Holistic Planning LLC bought a new stake in Marathon Petroleum in the 3rd quarter worth approximately $912,000. World Investment Advisors LLC raised its stake in Marathon Petroleum by 4,227.5% during the 3rd quarter. World Investment Advisors LLC now owns 69,759 shares of the oil and gas company’s stock valued at $11,364,000 after buying an additional 68,147 shares during the last quarter. Finally, Magnolia Capital Advisors LLC boosted its stake in shares of Marathon Petroleum by 353.4% in the 2nd quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock worth $9,713,000 after buying an additional 43,639 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MPC shares. TD Cowen reissued a “buy” rating and issued a $170.00 target price on shares of Marathon Petroleum in a report on Tuesday, December 10th. Piper Sandler dropped their price objective on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. Bank of America began coverage on shares of Marathon Petroleum in a research report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price target on the stock. BMO Capital Markets cut their price objective on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Finally, Barclays decreased their target price on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average price target of $184.00.

Marathon Petroleum Stock Up 0.5 %

Shares of MPC stock opened at $142.36 on Friday. The company’s fifty day simple moving average is $147.86 and its two-hundred day simple moving average is $160.35. Marathon Petroleum Co. has a 52 week low of $130.54 and a 52 week high of $221.11. The stock has a market cap of $45.75 billion, a P/E ratio of 11.28, a PEG ratio of 2.56 and a beta of 1.42. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.90. The company 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 firm’s revenue was down 14.9% on a year-over-year basis. During the same period in the prior year, the company earned $8.14 earnings per share. Analysts predict that Marathon Petroleum Co. will post 9.47 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

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

Marathon Petroleum announced that its board has initiated a stock repurchase plan on Tuesday, November 5th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell purchased 6,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was purchased at an average price of $149.61 per share, with a total value of $897,660.00. Following the acquisition, the director now owns 6,090 shares in the company, valued at approximately $911,124.90. The trade was a 6,666.67 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is owned by company insiders.

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.