Marathon Petroleum Co. (NYSE:MPC) Stock Holdings Lowered by Amalgamated Bank

Amalgamated Bank decreased its holdings in Marathon Petroleum Co. (NYSE:MPC) by 5.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 109,139 shares of the oil and gas company’s stock after selling 6,417 shares during the quarter. Amalgamated Bank’s holdings in Marathon Petroleum were worth $16,192,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Marathon Petroleum during the third quarter valued at $109,099,000. Acadian Asset Management LLC boosted its holdings in shares of Marathon Petroleum by 127.0% in the third quarter. Acadian Asset Management LLC now owns 1,232,706 shares of the oil and gas company’s stock worth $186,536,000 after buying an additional 689,576 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Marathon Petroleum by 256.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 884,573 shares of the oil and gas company’s stock worth $131,235,000 after acquiring an additional 636,281 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Marathon Petroleum by 248.1% during the fourth quarter. International Assets Investment Management LLC now owns 608,888 shares of the oil and gas company’s stock valued at $90,335,000 after acquiring an additional 433,977 shares during the period. Finally, Korea Investment CORP lifted its position in shares of Marathon Petroleum by 61.9% in the 3rd quarter. Korea Investment CORP now owns 662,266 shares of the oil and gas company’s stock valued at $100,227,000 after acquiring an additional 253,321 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 0.2 %

Shares of NYSE MPC traded down $0.40 during mid-day trading on Friday, reaching $182.55. 1,866,370 shares of the company traded hands, compared to its average volume of 2,785,623. The company’s fifty day moving average is $193.92 and its two-hundred day moving average is $167.87. Marathon Petroleum Co. has a fifty-two week low of $104.32 and a fifty-two week high of $221.11. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.13 and a current ratio of 1.43. The stock has a market cap of $64.32 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 1.46 and a beta of 1.55.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.25. The company had revenue of $32.71 billion for the quarter, compared to analyst estimates of $32.07 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $6.09 earnings per share. On average, analysts expect that Marathon Petroleum Co. will post 20.49 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio (DPR) is 16.48%.

Marathon Petroleum announced that its board has authorized a stock buyback plan on Tuesday, April 30th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 7.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

MPC has been the topic of several recent analyst reports. Mizuho cut their target price on shares of Marathon Petroleum from $202.00 to $200.00 and set a “neutral” rating on the stock in a research note on Thursday. Barclays raised their price objective on Marathon Petroleum from $168.00 to $221.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. JPMorgan Chase & Co. raised their price target on shares of Marathon Petroleum from $172.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Wells Fargo & Company upped their price objective on shares of Marathon Petroleum from $214.00 to $227.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Finally, Piper Sandler boosted their price target on shares of Marathon Petroleum from $159.00 to $204.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Marathon Petroleum has an average rating of “Moderate Buy” and a consensus price target of $193.62.

Insider Activity

In related news, Director Kim K.W. Rucker sold 1,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $170.35, for a total transaction of $170,350.00. Following the completion of the transaction, the director now owns 23,446 shares of the company’s stock, valued at approximately $3,994,026.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is currently owned by company insiders.

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.