Graypoint LLC Sells 363 Shares of Marathon Petroleum Co. (NYSE:MPC)

Graypoint LLC cut its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 12.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,509 shares of the oil and gas company’s stock after selling 363 shares during the period. Graypoint LLC’s holdings in Marathon Petroleum were worth $350,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MPC. HBW Advisory Services LLC grew its position in Marathon Petroleum by 4.2% in the 4th quarter. HBW Advisory Services LLC now owns 3,167 shares of the oil and gas company’s stock worth $442,000 after purchasing an additional 128 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Marathon Petroleum by 0.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 86,621 shares of the oil and gas company’s stock valued at $12,084,000 after acquiring an additional 508 shares in the last quarter. Chickasaw Capital Management LLC increased its position in shares of Marathon Petroleum by 43.2% during the fourth quarter. Chickasaw Capital Management LLC now owns 3,315 shares of the oil and gas company’s stock valued at $462,000 after acquiring an additional 1,000 shares during the last quarter. Bank of New Hampshire lifted its holdings in Marathon Petroleum by 27.8% during the fourth quarter. Bank of New Hampshire now owns 689 shares of the oil and gas company’s stock worth $96,000 after acquiring an additional 150 shares during the period. Finally, Versant Capital Management Inc boosted its position in Marathon Petroleum by 29.6% in the fourth quarter. Versant Capital Management Inc now owns 739 shares of the oil and gas company’s stock worth $103,000 after purchasing an additional 169 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MPC. Citigroup lowered their target price on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Bank of America began coverage on shares of Marathon Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $174.00 target price on the stock. Mizuho decreased their price target on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Scotiabank dropped their price objective on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Morgan Stanley decreased their target price on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $183.73.

Marathon Petroleum Stock Up 0.2 %

MPC opened at $142.55 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. Marathon Petroleum Co. has a one year low of $130.54 and a one year high of $221.11. The firm has a market capitalization of $45.81 billion, a P/E ratio of 11.30, a price-to-earnings-growth ratio of 2.56 and a beta of 1.42. The company has a fifty day moving average price of $147.84 and a 200-day moving average price of $160.02.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.90. The business had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The company’s quarterly revenue was down 14.9% compared to the same quarter last year. During the same period in the prior year, the company earned $8.14 EPS. Equities research analysts expect that Marathon Petroleum Co. will post 9.47 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The business 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 represents a $3.64 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date was Wednesday, November 20th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s payout ratio is currently 28.84%.

Marathon Petroleum declared that its board has approved a stock repurchase program on Tuesday, November 5th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Marathon Petroleum

In other news, Director Jeffrey C. Campbell acquired 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were bought at an average cost of $149.61 per share, with a total value of $897,660.00. Following the acquisition, the director now owns 6,090 shares in the company, valued at approximately $911,124.90. This represents a 6,666.67 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.21% of the company’s stock.

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.