Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Polaris Capital Management LLC

Polaris Capital Management LLC cut its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 210,994 shares of the oil and gas company’s stock after selling 500 shares during the period. Polaris Capital Management LLC owned approximately 0.07% of Marathon Petroleum worth $29,434,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. CWM LLC grew its position in Marathon Petroleum by 20.6% during the 3rd quarter. CWM LLC now owns 19,888 shares of the oil and gas company’s stock worth $3,240,000 after purchasing an additional 3,399 shares in the last quarter. Carnegie Investment Counsel lifted its position in shares of Marathon Petroleum by 6.1% in the third quarter. Carnegie Investment Counsel now owns 29,187 shares of the oil and gas company’s stock worth $4,755,000 after purchasing an additional 1,689 shares in the last quarter. Exchange Traded Concepts LLC grew its position in Marathon Petroleum by 191.8% during the third quarter. Exchange Traded Concepts LLC now owns 6,489 shares of the oil and gas company’s stock valued at $1,057,000 after purchasing an additional 4,265 shares in the last quarter. CHICAGO TRUST Co NA purchased a new stake in Marathon Petroleum in the 3rd quarter worth approximately $278,000. Finally, Koshinski Asset Management Inc. boosted its stake in shares of Marathon Petroleum by 8.4% during the 3rd quarter. Koshinski Asset Management Inc. now owns 8,020 shares of the oil and gas company’s stock valued at $1,306,000 after buying an additional 619 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Price Performance

NYSE MPC opened at $153.84 on Tuesday. The business has a 50 day simple moving average of $145.91 and a 200 day simple moving average of $157.51. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. Marathon Petroleum Co. has a 52-week low of $130.54 and a 52-week high of $221.11. The stock has a market cap of $49.44 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 2.91 and a beta of 1.41.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The business had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $31.94 billion. During the same period last year, the company earned $3.98 earnings per share. Marathon Petroleum’s quarterly revenue was down 9.1% on a year-over-year basis. Analysts anticipate that Marathon Petroleum Co. will post 8.7 earnings per share for the current fiscal year.

Marathon Petroleum announced that its Board of Directors has initiated 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 buy up to 10% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Marathon Petroleum Announces Dividend

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

Insiders Place Their Bets

In other news, Director Jeffrey C. Campbell acquired 6,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were bought at an average cost of $149.61 per share, for a total transaction of $897,660.00. Following the purchase, the director now directly 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on MPC. Mizuho lowered their target price on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. TD Cowen restated a “buy” rating and set a $170.00 price target on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Barclays decreased their price objective on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Bank of America assumed coverage on Marathon Petroleum in a research note on Thursday, October 17th. They set a “neutral” rating and a $174.00 price target for the company. Finally, Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average price target 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.