Cigna Investments Inc. New Cuts Position in Marathon Petroleum Co. (NYSE:MPC)

Cigna Investments Inc. New decreased its holdings in Marathon Petroleum Co. (NYSE:MPCFree Report) by 10.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,085 shares of the oil and gas company’s stock after selling 475 shares during the quarter. Cigna Investments Inc. New’s holdings in Marathon Petroleum were worth $606,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Gleason Group Inc. grew its holdings in Marathon Petroleum by 75.2% in the third quarter. Gleason Group Inc. now owns 191 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 82 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of Marathon Petroleum during the fourth quarter valued at $32,000. Mascoma Wealth Management LLC acquired a new stake in shares of Marathon Petroleum during the third quarter valued at $43,000. Peoples Bank KS acquired a new stake in shares of Marathon Petroleum during the third quarter valued at $44,000. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Marathon Petroleum by 811.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 319 shares of the oil and gas company’s stock valued at $47,000 after acquiring an additional 284 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

MPC has been the topic of a number of analyst reports. Bank of America increased their price objective on Marathon Petroleum from $185.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Raymond James increased their target price on Marathon Petroleum from $175.00 to $185.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 31st. Citigroup began coverage on Marathon Petroleum in a research report on Wednesday, January 24th. They set a “neutral” rating on the stock. StockNews.com upgraded Marathon Petroleum from a “hold” rating to a “buy” rating in a research report on Saturday, March 9th. Finally, Barclays increased their target price on Marathon Petroleum from $163.00 to $168.00 and gave the stock an “overweight” rating in a research report on Monday, February 5th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $182.09.

Check Out Our Latest Analysis on MPC

Marathon Petroleum Stock Performance

Marathon Petroleum stock opened at $202.39 on Monday. The stock’s 50-day moving average is $176.00 and its 200-day moving average is $159.19. The company has a market cap of $72.93 billion, a price-to-earnings ratio of 8.56, a price-to-earnings-growth ratio of 2.12 and a beta of 1.52. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.59 and a quick ratio of 1.13. Marathon Petroleum Co. has a 12 month low of $104.32 and a 12 month high of $203.01.

Marathon Petroleum (NYSE:MPCGet Free Report) last released its quarterly earnings data on Tuesday, January 30th. The oil and gas company reported $3.98 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $1.77. The company had revenue of $36.26 billion for the quarter, compared to the consensus estimate of $34.90 billion. Marathon Petroleum had a return on equity of 30.58% and a net margin of 6.44%. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period last year, the business posted $6.65 EPS. Equities analysts anticipate that Marathon Petroleum Co. will post 15.82 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Wednesday, February 21st were issued a dividend of $0.825 per share. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $3.30 annualized dividend and a dividend yield of 1.63%. Marathon Petroleum’s payout ratio is currently 14.02%.

Insider Activity at Marathon Petroleum

In related news, Director Kim K.W. Rucker sold 1,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $170.35, for a total transaction of $170,350.00. Following the sale, the director now directly owns 23,446 shares in the company, valued at approximately $3,994,026.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.21% of the company’s stock.

Marathon Petroleum Profile

(Free Report)

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.

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

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