International Assets Investment Management LLC Trims Stake in Marathon Petroleum Co. (NYSE:MPC)

International Assets Investment Management LLC lessened its holdings in Marathon Petroleum Co. (NYSE:MPC) by 99.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,157 shares of the oil and gas company’s stock after selling 1,305,025 shares during the period. International Assets Investment Management LLC’s holdings in Marathon Petroleum were worth $871,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Gladius Capital Management LP bought a new stake in shares of Marathon Petroleum during the 3rd quarter valued at about $26,000. MeadowBrook Investment Advisors LLC lifted its position in Marathon Petroleum by 88.9% during the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 80 shares during the last quarter. True Wealth Design LLC grew its stake in Marathon Petroleum by 672.7% in the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after buying an additional 148 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Marathon Petroleum during the 3rd quarter valued at $30,000. Finally, Darwin Wealth Management LLC bought a new stake in shares of Marathon Petroleum during the 3rd quarter worth $33,000. Institutional investors own 76.77% of the company’s stock.

Insiders Place Their Bets

In related news, Director Jeffrey C. Campbell purchased 6,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were purchased at an average cost of $149.61 per share, with a total value of $897,660.00. Following the transaction, the director now directly owns 6,090 shares in the company, valued at $911,124.90. This trade represents a 6,666.67 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MPC shares. Morgan Stanley dropped their price target on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. BMO Capital Markets cut their target price on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. TD Cowen restated a “buy” rating and issued a $170.00 price objective on shares of Marathon Petroleum in a report on Tuesday, December 10th. JPMorgan Chase & Co. reduced their target price on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, Bank of America started coverage on Marathon Petroleum in a research note on Thursday, October 17th. They set a “neutral” rating and a $174.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $184.00.

Marathon Petroleum Stock Performance

Marathon Petroleum stock opened at $142.36 on Friday. Marathon Petroleum Co. has a fifty-two week low of $130.54 and a fifty-two week high of $221.11. The stock’s 50 day simple moving average is $147.86 and its two-hundred day simple moving average is $160.35. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The stock has a market cap of $45.75 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 2.56 and a beta of 1.42.

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

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

Marathon Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th were paid a dividend of $0.91 per share. The ex-dividend date was Wednesday, November 20th. This represents a $3.64 annualized dividend and a yield of 2.56%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s payout ratio is presently 28.84%.

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.