GAMMA Investing LLC Lowers Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

GAMMA Investing LLC reduced its position in Marathon Petroleum Co. (NYSE:MPC) by 5.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 10,226 shares of the oil and gas company’s stock after selling 630 shares during the quarter. GAMMA Investing LLC’s holdings in Marathon Petroleum were worth $1,427,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of MPC. Oppenheimer Asset Management Inc. grew its position in Marathon Petroleum by 27.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company’s stock valued at $7,033,000 after acquiring an additional 9,355 shares during the last quarter. Wilmington Savings Fund Society FSB grew its holdings in shares of Marathon Petroleum by 747.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company’s stock valued at $3,466,000 after purchasing an additional 18,764 shares during the last quarter. Holistic Planning LLC purchased a new position in Marathon Petroleum in the 3rd quarter worth $912,000. World Investment Advisors LLC boosted its position in Marathon Petroleum by 4,227.5% during the third quarter. World Investment Advisors LLC now owns 69,759 shares of the oil and gas company’s stock valued at $11,364,000 after buying an additional 68,147 shares during the period. Finally, Magnolia Capital Advisors LLC grew its stake in shares of Marathon Petroleum by 353.4% during the second quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock valued at $9,713,000 after buying an additional 43,639 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Jeffrey C. Campbell purchased 6,000 shares of Marathon Petroleum stock in a transaction that occurred on Wednesday, December 4th. The stock was bought at an average price of $149.61 per share, with a total value of $897,660.00. Following the completion of the transaction, the director now directly owns 6,090 shares of the company’s stock, valued at approximately $911,124.90. The trade was a 6,666.67 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Marathon Petroleum Stock Up 0.9 %

NYSE:MPC opened at $142.74 on Friday. Marathon Petroleum Co. has a 1-year low of $130.54 and a 1-year high of $221.11. The company has a market capitalization of $45.88 billion, a PE ratio of 11.31, a P/E/G ratio of 2.56 and a beta of 1.42. The firm’s 50-day moving average price is $148.44 and its 200-day moving average price is $161.41. 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 (NYSE:MPC) last posted its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.90. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The company had revenue of $35.37 billion during the quarter, compared to analyst estimates of $34.34 billion. During the same quarter last year, the company earned $8.14 EPS. The firm’s revenue for the quarter was down 14.9% on a year-over-year basis. On average, equities analysts predict that Marathon Petroleum Co. will post 9.47 EPS for the current fiscal year.

Marathon Petroleum announced that its board has approved a share buyback program 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 buy up to 10% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The company also recently disclosed 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. This represents a $3.64 annualized dividend and a yield of 2.55%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, November 20th. Marathon Petroleum’s dividend payout ratio is 28.84%.

Analysts Set New Price Targets

Several brokerages recently weighed in on MPC. JPMorgan Chase & Co. dropped their target price on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Morgan Stanley lowered their price target on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a report on Monday, September 16th. BMO Capital Markets cut their price target on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Piper Sandler lowered their price objective on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Finally, TD Cowen restated a “buy” rating and set a $170.00 price target on shares of Marathon Petroleum in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.00.

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.