Truist Financial Corp Lowers Stake in Marathon Petroleum Co. (NYSE:MPC)

Truist Financial Corp lowered its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 30.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 55,271 shares of the oil and gas company’s stock after selling 24,073 shares during the period. Truist Financial Corp’s holdings in Marathon Petroleum were worth $7,710,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Gladius Capital Management LP purchased a new position in shares of Marathon Petroleum during the 3rd quarter worth approximately $26,000. MeadowBrook Investment Advisors LLC boosted its position in shares of Marathon Petroleum by 88.9% during the 3rd 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 period. True Wealth Design LLC boosted its position in shares of Marathon Petroleum by 672.7% during the 3rd 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 period. Harbor Capital Advisors Inc. purchased a new position in shares of Marathon Petroleum during the 3rd quarter worth approximately $30,000. Finally, Darwin Wealth Management LLC acquired a new stake in Marathon Petroleum during the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insiders Place Their Bets

In other Marathon Petroleum news, Director Jeffrey C. Campbell acquired 6,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were bought at an average cost of $149.61 per share, with a total value of $897,660.00. Following the transaction, the director now owns 6,090 shares of the company’s stock, valued at approximately $911,124.90. This trade represents a 6,666.67 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.21% of the stock is currently owned by insiders.

Marathon Petroleum Trading Down 2.8 %

NYSE MPC opened at $153.81 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The firm’s fifty day moving average price is $146.72 and its 200 day moving average price is $156.59. The company has a market capitalization of $49.43 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 3.08 and a beta of 1.41. Marathon Petroleum Co. has a 12 month low of $130.54 and a 12 month high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.71. The firm 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%. The company’s revenue was down 9.1% on a year-over-year basis. During the same period last year, the firm posted $3.98 EPS. On average, sell-side analysts expect that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum declared that its Board of Directors has initiated a stock buyback program on Tuesday, November 5th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to repurchase up to 10% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio (DPR) is 36.66%.

Wall Street Analyst Weigh In

MPC has been the topic of a number of research reports. Barclays reduced 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 reduced 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. TD Cowen reiterated a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a report on Tuesday, December 10th. 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. Finally, Wells Fargo & Company increased their target price on shares of Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $181.27.

About Marathon Petroleum

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.