Pitcairn Co. Has $2.33 Million Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Pitcairn Co. lowered its stake in Marathon Petroleum Co. (NYSE:MPC) by 8.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 16,715 shares of the oil and gas company’s stock after selling 1,494 shares during the period. Pitcairn Co.’s holdings in Marathon Petroleum were worth $2,332,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. SWS Partners lifted its stake in Marathon Petroleum by 19.0% in the fourth quarter. SWS Partners now owns 17,577 shares of the oil and gas company’s stock valued at $2,452,000 after buying an additional 2,806 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of 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 acquiring an additional 501,441 shares during the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of Marathon Petroleum by 747.3% in 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 during the period. Greatmark Investment Partners Inc. boosted its stake in Marathon Petroleum by 3.5% during the 4th quarter. Greatmark Investment Partners Inc. now owns 161,171 shares of the oil and gas company’s stock worth $22,483,000 after acquiring an additional 5,476 shares during the last quarter. Finally, TCTC Holdings LLC grew its holdings in Marathon Petroleum by 3.3% during the fourth quarter. TCTC Holdings LLC now owns 91,256 shares of the oil and gas company’s stock valued at $12,730,000 after purchasing an additional 2,892 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Marathon Petroleum news, insider Ricky D. Hessling bought 2,000 shares of Marathon Petroleum stock in a transaction dated Tuesday, March 11th. The stock was bought at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the purchase, the insider now owns 12,162 shares of the company’s stock, valued at $1,638,464.64. The trade was a 19.68 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Evan Bayh purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the purchase, the director now owns 69,305 shares in the company, valued at $9,266,078.50. This trade represents a 1.46 % increase in their position. The disclosure for this purchase can be found here. 0.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Tudor Pickering raised shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Barclays lifted their target price on Marathon Petroleum from $159.00 to $161.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Mizuho lowered their price target on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a report on Monday, December 16th. TD Cowen reiterated a “buy” rating and set a $170.00 price objective on shares of Marathon Petroleum in a report on Tuesday, December 10th. Finally, Piper Sandler lowered their target price on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $180.29.

Marathon Petroleum Stock Down 13.0 %

Marathon Petroleum stock opened at $128.64 on Friday. The company has a fifty day simple moving average of $148.02 and a 200 day simple moving average of $151.05. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a 1-year low of $127.69 and a 1-year high of $221.11. The company has a market cap of $40.08 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 3.11 and a beta of 1.39.

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, beating analysts’ consensus estimates of $0.06 by $0.71. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The business had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $31.94 billion. Marathon Petroleum’s quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.98 earnings per share. Research analysts anticipate that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 19th were paid a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.64 annualized dividend and a dividend yield of 2.83%. Marathon Petroleum’s dividend payout ratio is presently 36.66%.

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.