American International Group Inc. Sells 4,864 Shares of Marathon Petroleum Co. (NYSE:MPC)

American International Group Inc. reduced its stake in Marathon Petroleum Co. (NYSE:MPCFree Report) by 4.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 98,943 shares of the oil and gas company’s stock after selling 4,864 shares during the period. American International Group Inc.’s holdings in Marathon Petroleum were worth $14,679,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Marathon Petroleum in the fourth quarter worth $25,000. Bruce G. Allen Investments LLC acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at approximately $32,000. Bare Financial Services Inc bought a new stake in shares of Marathon Petroleum during the 4th quarter worth approximately $32,000. Manchester Capital Management LLC boosted its position in shares of Marathon Petroleum by 97.2% during the 4th quarter. Manchester Capital Management LLC now owns 215 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 106 shares in the last quarter. Finally, Pittenger & Anderson Inc. bought a new position in Marathon Petroleum in the 4th quarter valued at approximately $36,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. JPMorgan Chase & Co. lifted their target price on Marathon Petroleum from $172.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Barclays cut their target price on shares of Marathon Petroleum from $221.00 to $195.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. Tudor Pickering raised shares of Marathon Petroleum to a “strong-buy” rating in a report on Thursday, May 30th. Piper Sandler dropped their price objective on Marathon Petroleum from $204.00 to $190.00 and set a “neutral” rating for the company in a research note on Tuesday, May 14th. Finally, Raymond James lowered their price target on Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating for the company in a research report on Thursday, May 30th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $193.92.

Get Our Latest Research Report on MPC

Marathon Petroleum Stock Up 1.0 %

Shares of NYSE MPC traded up $1.81 during midday trading on Thursday, hitting $175.73. The stock had a trading volume of 2,226,553 shares, compared to its average volume of 2,706,791. The business’s 50 day moving average is $190.06 and its 200-day moving average is $172.75. Marathon Petroleum Co. has a 52 week low of $108.88 and a 52 week high of $221.11. The company has a quick ratio of 0.99, a current ratio of 1.43 and a debt-to-equity ratio of 0.85. The company has a market cap of $61.91 billion, a P/E ratio of 8.78, a PEG ratio of 1.51 and a beta of 1.45.

Marathon Petroleum (NYSE:MPCGet Free Report) last issued its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.53 by $0.25. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The business had revenue of $32.71 billion for the quarter, compared to the consensus estimate of $32.07 billion. During the same period last year, the business posted $6.09 EPS. The company’s revenue was down 6.2% compared to the same quarter last year. As a group, analysts predict that Marathon Petroleum Co. will post 19.3 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be paid a $0.825 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.88%. Marathon Petroleum’s dividend payout ratio is presently 16.48%.

Marathon Petroleum declared that its board has authorized a share repurchase plan on Tuesday, April 30th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire up to 7.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Marathon Petroleum Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Co. (NYSE:MPCFree Report).

Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

Receive News & Ratings for Marathon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.