UMB Bank n.a. Sells 31,701 Shares of Marathon Petroleum Co. (NYSE:MPC)

UMB Bank n.a. cut its holdings in Marathon Petroleum Co. (NYSE:MPC) by 56.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,019 shares of the oil and gas company’s stock after selling 31,701 shares during the quarter. UMB Bank n.a.’s holdings in Marathon Petroleum were worth $3,351,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MPC. Gladius Capital Management LP bought a new stake in Marathon Petroleum in the third quarter worth $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 worth $28,000 after buying an additional 80 shares during the last quarter. True Wealth Design LLC boosted its stake in shares of Marathon Petroleum by 672.7% during the 3rd 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 in the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Marathon Petroleum during the 3rd quarter valued at about $30,000. Finally, Darwin Wealth Management LLC acquired a new stake in Marathon Petroleum in the 3rd quarter worth approximately $33,000. 76.77% of the stock is owned by institutional investors.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell purchased 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was purchased at an average cost of $149.61 per share, with a total value of $897,660.00. Following the acquisition, 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 position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.21% of the stock is currently owned by insiders.

Marathon Petroleum Stock Up 0.7 %

Shares of MPC opened at $152.83 on Tuesday. 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 company has a 50-day moving average price of $147.76 and a two-hundred day moving average price of $159.10. The stock has a market cap of $49.12 billion, a price-to-earnings ratio of 12.11, a P/E/G ratio of 2.51 and a beta of 1.42. Marathon Petroleum Co. has a 12 month low of $130.54 and a 12 month high of $221.11.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, beating the consensus estimate of $0.97 by $0.90. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The business had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. During the same quarter in the previous year, the firm earned $8.14 EPS. Marathon Petroleum’s quarterly revenue was down 14.9% on a year-over-year basis. Equities analysts predict that Marathon Petroleum Co. will post 9.38 EPS for the current fiscal year.

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

Marathon Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.38%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio (DPR) is 28.84%.

Analyst Ratings Changes

Several equities analysts have commented on MPC shares. JPMorgan Chase & Co. lowered their price target on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Raymond James raised their target price on shares of Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a research note on Friday. Mizuho cut their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Scotiabank lowered their price target on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Bank of America started coverage on Marathon Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $174.00 price objective for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $181.20.

About Marathon Petroleum

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.