Doheny Asset Management CA Sells 2,273 Shares of Marathon Petroleum Co. (NYSE:MPC)

Doheny Asset Management CA cut its holdings in Marathon Petroleum Co. (NYSE:MPC) by 23.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,401 shares of the oil and gas company’s stock after selling 2,273 shares during the period. Marathon Petroleum accounts for approximately 1.1% of Doheny Asset Management CA’s portfolio, making the stock its 27th biggest holding. Doheny Asset Management CA’s holdings in Marathon Petroleum were worth $1,098,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Natixis Advisors L.P. increased its stake in shares of Marathon Petroleum by 9.4% in the fourth quarter. Natixis Advisors L.P. now owns 220,848 shares of the oil and gas company’s stock worth $32,765,000 after purchasing an additional 18,990 shares during the period. First Horizon Advisors Inc. increased its stake in Marathon Petroleum by 8.9% during the fourth quarter. First Horizon Advisors Inc. now owns 1,174 shares of the oil and gas company’s stock valued at $174,000 after acquiring an additional 96 shares during the period. Fisher Asset Management LLC increased its stake in Marathon Petroleum by 23.1% during the fourth quarter. Fisher Asset Management LLC now owns 7,469 shares of the oil and gas company’s stock valued at $1,108,000 after acquiring an additional 1,404 shares during the period. Wilbanks Smith & Thomas Asset Management LLC increased its stake in Marathon Petroleum by 19.5% during the fourth quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,310 shares of the oil and gas company’s stock valued at $491,000 after acquiring an additional 539 shares during the period. Finally, First Trust Direct Indexing L.P. increased its stake in Marathon Petroleum by 7.6% during the fourth quarter. First Trust Direct Indexing L.P. now owns 16,119 shares of the oil and gas company’s stock valued at $2,391,000 after acquiring an additional 1,134 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MPC has been the topic of several research reports. Wells Fargo & Company boosted their price target on Marathon Petroleum from $214.00 to $227.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Scotiabank boosted their price target on Marathon Petroleum from $175.00 to $207.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. upped their price objective on Marathon Petroleum from $172.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Raymond James upped their price objective on Marathon Petroleum from $175.00 to $185.00 and gave the company a “strong-buy” rating in a research note on Wednesday, January 31st. Finally, The Goldman Sachs Group upped their price objective on Marathon Petroleum from $175.00 to $211.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $193.62.

Insiders Place Their Bets

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

Marathon Petroleum Price Performance

Shares of MPC traded up $4.18 on Thursday, hitting $183.15. The company’s stock had a trading volume of 1,628,660 shares, compared to its average volume of 2,782,790. The company has a market capitalization of $66.00 billion, a PE ratio of 9.14, a PEG ratio of 1.48 and a beta of 1.55. 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 fifty-two week low of $104.32 and a fifty-two week high of $221.11. The company has a 50 day moving average price of $193.61 and a 200 day moving average price of $167.76.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.53 by $0.25. The business had revenue of $32.71 billion for the quarter, compared to the consensus estimate of $32.07 billion. Marathon Petroleum had a return on equity of 25.44% and a net margin of 5.32%. Marathon Petroleum’s revenue was down 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $6.09 EPS. On average, research analysts anticipate that Marathon Petroleum Co. will post 20.49 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be issued a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 1.80%. The ex-dividend date is Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio is 16.48%.

Marathon Petroleum declared that its board has initiated a stock repurchase program on Tuesday, April 30th 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 7.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Marathon Petroleum 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.