Oppenheimer & Co. Inc. Has $18.61 Million Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Oppenheimer & Co. Inc. reduced its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 5.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,374 shares of the oil and gas company’s stock after selling 7,222 shares during the period. Oppenheimer & Co. Inc.’s holdings in Marathon Petroleum were worth $18,606,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MPC. Gladius Capital Management LP bought a new stake in shares of Marathon Petroleum in the third quarter worth $26,000. MeadowBrook Investment Advisors LLC grew its stake in shares of Marathon Petroleum by 88.9% in the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 80 shares during the last quarter. True Wealth Design LLC grew its stake in shares of Marathon Petroleum by 672.7% in the third quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 148 shares during the last quarter. Asset Planning Inc bought a new stake in shares of Marathon Petroleum in the fourth quarter worth $28,000. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Marathon Petroleum in the third quarter worth $30,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Trading Down 2.9 %

Shares of MPC opened at $146.23 on Thursday. The firm’s 50-day moving average price is $147.49 and its 200-day moving average price is $156.00. The firm has a market capitalization of $47.00 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 3.11 and a beta of 1.41. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a 1-year low of $130.54 and a 1-year high of $221.11.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.71. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The firm had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. During the same quarter in the previous year, the firm posted $3.98 EPS. The company’s revenue for the quarter was down 9.1% compared to the same quarter last year. Sell-side analysts anticipate that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum declared that its board has authorized a stock repurchase plan on Tuesday, November 5th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the oil and gas company to repurchase up to 10% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th will be issued a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.64 annualized dividend and a yield of 2.49%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 36.66%.

Insiders Place Their Bets

In other news, Director Jeffrey C. Campbell bought 6,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was acquired at an average cost of $149.61 per share, with a total value of $897,660.00. Following the completion of the acquisition, the director now owns 6,090 shares of the company’s stock, valued at approximately $911,124.90. This represents a 6,666.67 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Mizuho cut their price target on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Barclays cut their price target on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. TD Cowen reissued a “buy” rating and set a $170.00 price objective on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Wells Fargo & Company increased their price objective on shares of Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Finally, Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $181.27.

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.