CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Decreases Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lessened its stake in Marathon Petroleum Co. (NYSE:MPC) by 24.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 71,662 shares of the oil and gas company’s stock after selling 22,999 shares during the quarter. Marathon Petroleum makes up about 0.7% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s portfolio, making the stock its 27th biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Marathon Petroleum were worth $9,997,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Gladius Capital Management LP purchased a new position in Marathon Petroleum in the 3rd quarter valued at about $26,000. MeadowBrook Investment Advisors LLC lifted its position in shares of Marathon Petroleum by 88.9% in the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 80 shares in the last quarter. True Wealth Design LLC boosted its stake in shares of Marathon Petroleum by 672.7% in the third quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 148 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Marathon Petroleum during the third quarter worth approximately $30,000. Finally, Darwin Wealth Management LLC acquired a new position in Marathon Petroleum in the 3rd quarter valued at $33,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Marathon Petroleum

In related news, Director Jeffrey C. Campbell acquired 6,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was acquired at an average cost of $149.61 per share, with a total value of $897,660.00. Following the completion of the transaction, the director now owns 6,090 shares in the company, valued at $911,124.90. This represents a 6,666.67 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

MPC has been the subject of a number of research reports. BMO Capital Markets dropped their target price on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, October 4th. JPMorgan Chase & Co. cut their price objective on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Citigroup lowered their target price on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Barclays cut their price target on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Finally, Raymond James upped their target price on Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a report on Friday, January 17th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $181.20.

Marathon Petroleum Trading Down 1.9 %

MPC opened at $151.43 on Friday. 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 has a market cap of $48.67 billion, a P/E ratio of 12.00, a P/E/G ratio of 2.88 and a beta of 1.42. Marathon Petroleum Co. has a 52 week low of $130.54 and a 52 week high of $221.11. The business has a fifty day simple moving average of $147.30 and a 200-day simple moving average of $158.69.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.90. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The company had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. During the same period in the prior year, the firm earned $8.14 earnings per share. The business’s revenue for the quarter was down 14.9% compared to the same quarter last year. On average, equities analysts expect that Marathon Petroleum Co. will post 8.88 earnings per share for the current year.

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

Marathon Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were paid a $0.91 dividend. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.40%. Marathon Petroleum’s payout ratio is 28.84%.

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.