QRG Capital Management Inc. Trims Position in Marathon Petroleum Co. (NYSE:MPC)

QRG Capital Management Inc. lessened its stake in Marathon Petroleum Co. (NYSE:MPC) by 26.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 91,552 shares of the oil and gas company’s stock after selling 32,729 shares during the quarter. QRG Capital Management Inc.’s holdings in Marathon Petroleum were worth $12,771,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Catalyst Financial Partners LLC increased its holdings in shares of Marathon Petroleum by 1.6% during the 3rd quarter. Catalyst Financial Partners LLC now owns 4,285 shares of the oil and gas company’s stock valued at $698,000 after purchasing an additional 67 shares in the last quarter. OLD Second National Bank of Aurora increased its holdings in shares of Marathon Petroleum by 7.2% during the 4th quarter. OLD Second National Bank of Aurora now owns 994 shares of the oil and gas company’s stock valued at $139,000 after purchasing an additional 67 shares in the last quarter. Lake Street Advisors Group LLC increased its holdings in shares of Marathon Petroleum by 1.6% during the 4th quarter. Lake Street Advisors Group LLC now owns 4,271 shares of the oil and gas company’s stock valued at $596,000 after purchasing an additional 69 shares in the last quarter. American Trust increased its holdings in shares of Marathon Petroleum by 5.3% during the 3rd quarter. American Trust now owns 1,397 shares of the oil and gas company’s stock valued at $228,000 after purchasing an additional 70 shares in the last quarter. Finally, DT Investment Partners LLC increased its holdings in shares of Marathon Petroleum by 21.5% during the 4th quarter. DT Investment Partners LLC now owns 395 shares of the oil and gas company’s stock valued at $55,000 after purchasing an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $148.06 on Friday. 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 $47.59 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 3.11 and a beta of 1.41. The company has a fifty day simple moving average of $147.82 and a 200-day simple moving average of $155.94. 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 released its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (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 analyst estimates of $31.94 billion. During the same quarter in the prior year, the firm earned $3.98 earnings per share. The company’s revenue for the quarter was down 9.1% compared to the same quarter last year. On average, equities analysts anticipate that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th will be given a dividend of $0.91 per share. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 annualized dividend and a dividend yield of 2.46%. Marathon Petroleum’s payout ratio is 36.66%.

Marathon Petroleum declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, November 5th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to buy up to 10% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Mizuho cut their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Tudor Pickering raised shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. TD Cowen reaffirmed a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a report on Tuesday, December 10th. Barclays cut their price target 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. Finally, Wells Fargo & Company boosted their price target on shares of Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, seven have given 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.

Insider Activity

In other news, Director Jeffrey C. Campbell purchased 6,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were purchased at an average price of $149.61 per share, with a total value of $897,660.00. Following 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.21% of the company’s stock.

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.