Massachusetts Financial Services Co. MA Decreases Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Massachusetts Financial Services Co. MA lessened its position in shares of Marathon Petroleum Co. (NYSE:MPCFree Report) by 1.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,108 shares of the oil and gas company’s stock after selling 1,485 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Marathon Petroleum were worth $15,302,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Gleason Group Inc. raised its stake in shares of Marathon Petroleum by 75.2% during the 3rd quarter. Gleason Group Inc. now owns 191 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 82 shares in the last quarter. True Wealth Design LLC purchased a new stake in Marathon Petroleum during the 4th quarter worth approximately $38,000. Almanack Investment Partners LLC. purchased a new stake in Marathon Petroleum during the 3rd quarter worth approximately $38,000. Mascoma Wealth Management LLC purchased a new stake in Marathon Petroleum during the 3rd quarter worth approximately $43,000. Finally, High Net Worth Advisory Group LLC purchased a new stake in Marathon Petroleum during the 1st quarter worth approximately $43,000. Institutional investors own 74.93% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of NYSE MPC opened at $169.97 on Friday. The company’s fifty day moving average price is $154.78 and its 200 day moving average price is $149.82. Marathon Petroleum Co. has a 1 year low of $104.32 and a 1 year high of $173.32. The company has a market capitalization of $64.54 billion, a PE ratio of 7.22, a price-to-earnings-growth ratio of 1.97 and a beta of 1.51. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.20 and a current ratio of 1.67.

Marathon Petroleum (NYSE:MPCGet Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The oil and gas company reported $3.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $1.77. Marathon Petroleum had a net margin of 6.44% and a return on equity of 30.21%. The firm had revenue of $36.26 billion for the quarter, compared to the consensus estimate of $34.90 billion. During the same period in the prior year, the firm posted $6.65 earnings per share. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. On average, research analysts predict that Marathon Petroleum Co. will post 14.38 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 11th. Shareholders of record on Wednesday, February 21st will be given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Tuesday, February 20th. Marathon Petroleum’s dividend payout ratio is presently 14.02%.

Marathon Petroleum declared that its board has authorized a share buyback program on Wednesday, October 25th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the oil and gas company to purchase up to 8.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

MPC has been the topic of several research analyst reports. Citigroup initiated coverage on shares of Marathon Petroleum in a research report on Wednesday, January 24th. They set a “neutral” rating on the stock. Raymond James boosted their target price on shares of Marathon Petroleum from $175.00 to $185.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 31st. Morgan Stanley boosted their target price on shares of Marathon Petroleum from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 17th. Barclays upped their price objective on shares of Marathon Petroleum from $163.00 to $168.00 and gave the company an “overweight” rating in a report on Monday, February 5th. Finally, TD Cowen upped their price objective on shares of Marathon Petroleum from $168.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $163.00.

Read Our Latest Stock Analysis on Marathon Petroleum

Insiders Place Their Bets

In other Marathon Petroleum news, VP Carl Kristopher Hagedorn sold 1,436 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $146.81, for a total transaction of $210,819.16. Following the completion of the transaction, the vice president now directly owns 5,480 shares in the company, valued at $804,518.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.28% of the stock is currently owned by company insiders.

Marathon Petroleum Profile

(Free Report)

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. 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.

See Also

Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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