Pinebridge Investments L.P. Decreases Stake in Marathon Petroleum Co. (NYSE:MPC)

Pinebridge Investments L.P. lowered its position in Marathon Petroleum Co. (NYSE:MPCGet Rating) by 8.8% in the fourth quarter, Holdings Channel reports. The fund owned 253,259 shares of the oil and gas company’s stock after selling 24,327 shares during the period. Pinebridge Investments L.P.’s holdings in Marathon Petroleum were worth $16,206,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Private Trust Co. NA lifted its position in shares of Marathon Petroleum by 5.0% during the 4th quarter. Private Trust Co. NA now owns 8,089 shares of the oil and gas company’s stock worth $518,000 after buying an additional 382 shares during the last quarter. HighTower Trust Services LTA acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at $640,000. Mutual of America Capital Management LLC increased its holdings in shares of Marathon Petroleum by 2.3% in the 3rd quarter. Mutual of America Capital Management LLC now owns 83,759 shares of the oil and gas company’s stock valued at $5,177,000 after acquiring an additional 1,845 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at $10,039,000. Finally, Kestra Advisory Services LLC increased its holdings in shares of Marathon Petroleum by 215.0% in the 4th quarter. Kestra Advisory Services LLC now owns 104,042 shares of the oil and gas company’s stock valued at $6,658,000 after acquiring an additional 71,010 shares during the period. Institutional investors and hedge funds own 80.91% of the company’s stock.

In other news, Director Kim K.W. Rucker sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 29th. The shares were sold at an average price of $83.00, for a total transaction of $415,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.28% of the company’s stock.

Shares of Marathon Petroleum stock traded down $0.12 on Thursday, hitting $91.84. The company’s stock had a trading volume of 176,810 shares, compared to its average volume of 6,502,406. Marathon Petroleum Co. has a 52-week low of $50.19 and a 52-week high of $96.90. The company has a quick ratio of 1.25, a current ratio of 1.45 and a debt-to-equity ratio of 0.85. The firm has a fifty day moving average price of $84.58 and a 200-day moving average price of $74.37. The company has a market capitalization of $49.68 billion, a P/E ratio of 5.46, a price-to-earnings-growth ratio of 0.52 and a beta of 1.77.

Marathon Petroleum (NYSE:MPCGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The oil and gas company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.39 by $0.10. The business had revenue of $38.38 billion for the quarter, compared to analyst estimates of $32.46 billion. Marathon Petroleum had a net margin of 7.93% and a return on equity of 7.60%. The business’s revenue for the quarter was up 67.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.20) EPS. As a group, analysts expect that Marathon Petroleum Co. will post 9.78 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Wednesday, May 18th will be issued a $0.58 dividend. The ex-dividend date is Tuesday, May 17th. This represents a $2.32 dividend on an annualized basis and a yield of 2.53%. Marathon Petroleum’s dividend payout ratio (DPR) is 13.77%.

MPC has been the topic of a number of recent research reports. TheStreet raised shares of Marathon Petroleum from a “c+” rating to a “b” rating in a report on Wednesday, March 2nd. Morgan Stanley boosted their price objective on shares of Marathon Petroleum from $90.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, April 18th. Credit Suisse Group boosted their price objective on shares of Marathon Petroleum from $100.00 to $110.00 in a research note on Wednesday, May 4th. Wells Fargo & Company boosted their price objective on shares of Marathon Petroleum from $91.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, April 21st. Finally, Zacks Investment Research raised shares of Marathon Petroleum from a “hold” rating to a “strong-buy” rating and set a $90.00 price objective on the stock in a research note on Monday, February 7th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $96.55.

Marathon Petroleum Company Profile (Get Rating)

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.

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

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