NewEdge Advisors LLC Lowers Position in Marathon Petroleum Co. (NYSE:MPC)

NewEdge Advisors LLC reduced its position in Marathon Petroleum Co. (NYSE:MPC) by 10.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,111 shares of the oil and gas company’s stock after selling 10,389 shares during the period. NewEdge Advisors LLC’s holdings in Marathon Petroleum were worth $12,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in MPC. SWS Partners raised its stake in shares of Marathon Petroleum by 19.0% during the 4th quarter. SWS Partners now owns 17,577 shares of the oil and gas company’s stock worth $2,452,000 after buying an additional 2,806 shares during the period. Assenagon Asset Management S.A. raised its position in Marathon Petroleum by 1,204.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock worth $75,757,000 after acquiring an additional 501,441 shares during the period. Wilmington Savings Fund Society FSB lifted its holdings in Marathon Petroleum by 747.3% during the third quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company’s stock valued at $3,466,000 after purchasing an additional 18,764 shares in the last quarter. Greatmark Investment Partners Inc. grew its position in shares of Marathon Petroleum by 3.5% in the fourth quarter. Greatmark Investment Partners Inc. now owns 161,171 shares of the oil and gas company’s stock valued at $22,483,000 after purchasing an additional 5,476 shares during the period. Finally, TCTC Holdings LLC increased its stake in shares of Marathon Petroleum by 3.3% during the fourth quarter. TCTC Holdings LLC now owns 91,256 shares of the oil and gas company’s stock worth $12,730,000 after purchasing an additional 2,892 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Marathon Petroleum news, Director Evan Bayh purchased 1,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $133.70 per share, for a total transaction of $133,700.00. Following the completion of the purchase, the director now directly owns 69,305 shares of the company’s stock, valued at approximately $9,266,078.50. This trade represents a 1.46 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ricky D. Hessling acquired 2,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $134.72 per share, with a total value of $269,440.00. Following the purchase, the insider now owns 12,162 shares of the company’s stock, valued at approximately $1,638,464.64. This trade represents a 19.68 % increase in their position. The disclosure for this purchase can be found here. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Wells Fargo & Company reduced their price objective on Marathon Petroleum from $185.00 to $175.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Scotiabank lowered their target price on shares of Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Raymond James dropped their target price on shares of Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 9th. Finally, Barclays lowered their price target on shares of Marathon Petroleum from $161.00 to $141.00 and set an “overweight” rating on the stock in a research report on Monday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus target price of $175.79.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $127.55 on Friday. The firm has a market cap of $39.74 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 3.11 and a beta of 1.04. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a 52 week low of $115.10 and a 52 week high of $203.06. The business’s fifty day simple moving average is $141.36 and its 200-day simple moving average is $147.85.

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. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The company had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $31.94 billion. During the same quarter in the prior year, the company posted $3.98 earnings per share. Marathon Petroleum’s revenue for the quarter was down 9.1% compared to the same quarter last year. Equities analysts forecast that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th were given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date was Wednesday, February 19th. Marathon Petroleum’s payout ratio is 36.66%.

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.