Pinebridge Investments L.P. Sells 5,861 Shares of Marathon Petroleum Co. (NYSE:MPC)

Pinebridge Investments L.P. trimmed its position in Marathon Petroleum Co. (NYSE:MPC) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 172,454 shares of the oil and gas company’s stock after selling 5,861 shares during the quarter. Pinebridge Investments L.P.’s holdings in Marathon Petroleum were worth $25,585,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of MPC. Cibc World Markets Corp boosted its stake in shares of Marathon Petroleum by 564.8% during the 4th quarter. Cibc World Markets Corp now owns 146,714 shares of the oil and gas company’s stock worth $21,766,000 after acquiring an additional 124,645 shares during the period. Public Employees Retirement Association of Colorado boosted its position in Marathon Petroleum by 695.4% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 59,589 shares of the oil and gas company’s stock worth $8,841,000 after purchasing an additional 52,097 shares during the period. Joseph Group Capital Management increased its holdings in shares of Marathon Petroleum by 5.2% in the fourth quarter. Joseph Group Capital Management now owns 8,634 shares of the oil and gas company’s stock valued at $1,281,000 after purchasing an additional 424 shares during the last quarter. 1832 Asset Management L.P. raised its position in shares of Marathon Petroleum by 3.0% in the fourth quarter. 1832 Asset Management L.P. now owns 28,466 shares of the oil and gas company’s stock valued at $4,223,000 after purchasing an additional 832 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its stake in shares of Marathon Petroleum by 10.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 145,026 shares of the oil and gas company’s stock worth $21,516,000 after buying an additional 13,356 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Price Performance

MPC traded down $1.37 during trading on Wednesday, hitting $173.89. 2,148,528 shares of the stock traded hands, compared to its average volume of 2,711,214. The business has a 50 day moving average price of $190.57 and a 200 day moving average price of $172.73. The company has a market cap of $61.27 billion, a price-to-earnings ratio of 8.69, a PEG ratio of 1.51 and a beta of 1.45. Marathon Petroleum Co. has a twelve month low of $106.95 and a twelve month high of $221.11. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 0.99.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $32.07 billion. During the same period in the prior year, the company earned $6.09 EPS. Marathon Petroleum’s revenue for the quarter was down 6.2% on a year-over-year basis. Equities research analysts forecast that Marathon Petroleum Co. will post 19.3 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio is 16.48%.

Marathon Petroleum declared that its Board of Directors has initiated a share repurchase program on Tuesday, April 30th that permits the company to repurchase $5.00 billion in 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 programs are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

MPC has been the topic of several research analyst reports. Raymond James lowered their price target on shares of Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating on the stock in a report on Thursday, May 30th. The Goldman Sachs Group lifted their price target on Marathon Petroleum from $175.00 to $211.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Mizuho increased their price objective on Marathon Petroleum from $200.00 to $203.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Bank of America lifted their target price on Marathon Petroleum from $185.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Finally, JPMorgan Chase & Co. upped their price target on shares of Marathon Petroleum from $172.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $194.23.

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.