Marathon Petroleum Co. (NYSE:MPC) Stake Lowered by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. cut its stake in Marathon Petroleum Co. (NYSE:MPC) by 7.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,699 shares of the oil and gas company’s stock after selling 939 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Marathon Petroleum were worth $1,632,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of MPC. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Marathon Petroleum during the 4th quarter worth about $27,000. Asset Planning Inc acquired a new position in Marathon Petroleum in the fourth quarter worth approximately $28,000. Sierra Ocean LLC bought a new position in Marathon Petroleum during the fourth quarter valued at approximately $31,000. Cape Investment Advisory Inc. lifted its stake in Marathon Petroleum by 762.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 267 shares during the last quarter. Finally, OFI Invest Asset Management bought a new stake in Marathon Petroleum in the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Activity

In related news, Director Evan Bayh purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average price of $133.70 per share, with a total value of $133,700.00. Following the purchase, the director now directly owns 69,305 shares in the company, valued at $9,266,078.50. This represents a 1.46 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Ricky D. Hessling acquired 2,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were bought at an average price of $134.72 per share, with a total value of $269,440.00. Following the completion of the purchase, the insider now directly owns 12,162 shares of the company’s stock, valued at approximately $1,638,464.64. This represents a 19.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.21% of the stock is owned by company insiders.

Marathon Petroleum Stock Up 0.9 %

MPC stock opened at $148.02 on Thursday. Marathon Petroleum Co. has a twelve month low of $130.54 and a twelve month high of $221.11. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The company has a market cap of $46.11 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 3.11 and a beta of 1.39. The business’s 50-day simple moving average is $148.53 and its 200 day simple moving average is $151.21.

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

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Wednesday, February 19th. Marathon Petroleum’s payout ratio is 36.66%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MPC shares. Wells Fargo & Company lifted their price objective on shares of Marathon Petroleum from $183.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Piper Sandler reduced their price target on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Barclays increased their price objective on Marathon Petroleum from $159.00 to $161.00 and gave the company an “overweight” rating in a report on Friday, March 14th. TD Cowen reaffirmed a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Finally, Tudor Pickering raised shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $180.21.

Marathon Petroleum Company 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.