Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Goelzer Investment Management Inc.

Goelzer Investment Management Inc. cut its stake in shares of Marathon Petroleum Co. (NYSE:MPCFree Report) by 8.7% during the fourth quarter, Holdings Channel reports. The firm owned 2,104 shares of the oil and gas company’s stock after selling 200 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Marathon Petroleum were worth $312,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Aspire Private Capital LLC grew its stake in shares of Marathon Petroleum by 4.4% in the 3rd quarter. Aspire Private Capital LLC now owns 3,456 shares of the oil and gas company’s stock valued at $523,000 after buying an additional 145 shares in the last quarter. First Horizon Advisors Inc. increased its position 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 worth $174,000 after buying an additional 96 shares during the last quarter. Canoe Financial LP bought a new position in Marathon Petroleum during the fourth quarter valued at about $33,604,000. Allworth Financial LP boosted its stake in shares of Marathon Petroleum by 3.2% during the 4th quarter. Allworth Financial LP now owns 10,899 shares of the oil and gas company’s stock worth $1,617,000 after acquiring an additional 340 shares in the last quarter. Finally, Principal Securities Inc. acquired a new stake in Marathon Petroleum in the 4th quarter worth approximately $659,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MPC. Bank of America lifted their price objective on Marathon Petroleum from $185.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Barclays cut their price target on Marathon Petroleum from $221.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, May 6th. Piper Sandler dropped their target price on shares of Marathon Petroleum from $204.00 to $190.00 and set a “neutral” rating on the stock in a research report on Tuesday. Mizuho increased their price target on shares of Marathon Petroleum from $200.00 to $203.00 and gave the company a “neutral” rating in a report on Monday. Finally, TD Cowen boosted their price objective on shares of Marathon Petroleum from $168.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus target price of $190.77.

View Our Latest Analysis on Marathon Petroleum

Insiders Place Their Bets

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

Marathon Petroleum Price Performance

NYSE MPC traded down $1.80 during trading hours on Wednesday, reaching $172.71. 2,545,518 shares of the company’s stock were exchanged, compared to its average volume of 2,731,797. The firm has a fifty day moving average of $195.32 and a 200-day moving average of $169.83. The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. Marathon Petroleum Co. has a one year low of $104.32 and a one year high of $221.11. The stock has a market cap of $60.85 billion, a PE ratio of 8.59, a price-to-earnings-growth ratio of 1.52 and a beta of 1.55.

Marathon Petroleum (NYSE:MPCGet Free Report) last announced its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.25. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The company had revenue of $32.71 billion during the quarter, compared to analyst estimates of $32.07 billion. During the same period last year, the company posted $6.09 earnings per share. The firm’s quarterly revenue was down 6.2% compared to the same quarter last year. On average, equities research analysts predict that Marathon Petroleum Co. will post 19.53 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be given a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.91%. The ex-dividend date is Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Marathon Petroleum announced that its board has approved a share repurchase program on Tuesday, April 30th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the oil and gas company to reacquire up to 7.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Marathon Petroleum Company 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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