Mutual of America Capital Management LLC Decreases Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Mutual of America Capital Management LLC lowered its position in Marathon Petroleum Co. (NYSE:MPC) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,885 shares of the oil and gas company’s stock after selling 2,711 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Marathon Petroleum were worth $5,982,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MPC. Wellington Management Group LLP raised its stake in shares of Marathon Petroleum by 342.1% in the third quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock valued at $911,274,000 after acquiring an additional 4,328,470 shares during the period. ING Groep NV purchased a new stake in shares of Marathon Petroleum in the third quarter valued at $114,107,000. Pacer Advisors Inc. raised its stake in shares of Marathon Petroleum by 22.3% in the fourth quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company’s stock valued at $495,595,000 after acquiring an additional 647,045 shares during the period. National Bank of Canada FI raised its stake in shares of Marathon Petroleum by 212.9% in the third quarter. National Bank of Canada FI now owns 846,756 shares of the oil and gas company’s stock valued at $137,945,000 after acquiring an additional 576,119 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of Marathon Petroleum by 1,204.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock valued at $75,757,000 after acquiring an additional 501,441 shares during the period. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 2.9 %

Shares of Marathon Petroleum stock opened at $145.75 on Tuesday. The company has a market cap of $46.84 billion, a P/E ratio of 14.68, a PEG ratio of 3.11 and a beta of 1.41. Marathon Petroleum Co. has a 52-week low of $130.54 and a 52-week 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 firm’s 50 day moving average price is $148.39 and its 200-day moving average price is $155.21.

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

Marathon Petroleum announced that its Board of Directors has approved a stock repurchase plan on Tuesday, November 5th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio is presently 36.66%.

Insiders Place Their Bets

In related news, Director Jeffrey C. Campbell bought 6,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were bought at an average price of $149.61 per share, with a total value of $897,660.00. Following the transaction, the director now owns 6,090 shares in the company, valued at approximately $911,124.90. This trade represents a 6,666.67 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.21% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MPC. Wells Fargo & Company increased their target price on shares of Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Barclays dropped their target price on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Mizuho dropped their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. Finally, Raymond James increased their target price on shares of Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a report on Friday, January 17th. 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.