Ritholtz Wealth Management decreased its position in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 16.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,132 shares of the oil and gas company's stock after selling 4,317 shares during the quarter. Ritholtz Wealth Management's holdings in Marathon Petroleum were worth $3,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Oppenheimer Asset Management Inc. boosted its stake in shares of Marathon Petroleum by 27.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company's stock valued at $7,033,000 after purchasing an additional 9,355 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Marathon Petroleum by 1,204.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company's stock valued at $75,757,000 after buying an additional 501,441 shares during the period. Wilmington Savings Fund Society FSB grew its stake in shares of Marathon Petroleum by 747.3% during the third 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 buying an additional 18,764 shares during the last quarter. Holistic Planning LLC purchased a new position in shares of Marathon Petroleum in the third quarter worth about $912,000. Finally, World Investment Advisors LLC lifted its stake in shares of Marathon Petroleum by 4,227.5% in the 3rd quarter. World Investment Advisors LLC now owns 69,759 shares of the oil and gas company's stock valued at $11,364,000 after acquiring an additional 68,147 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company's stock.
MPC stock opened at $152.83 on Friday. 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 firm has a 50 day moving average price of $147.78 and a 200-day moving average price of $159.47. Marathon Petroleum Co. has a 52-week low of $130.54 and a 52-week high of $221.11. The firm has a market capitalization of $49.12 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 2.51 and a beta of 1.42.
Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, topping the consensus estimate of $0.97 by $0.90. The business had revenue of $35.37 billion for the quarter, compared to the consensus estimate of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The company's revenue for the quarter was down 14.9% compared to the same quarter last year. During the same period in the previous year, the company posted $8.14 earnings per share. Equities research analysts forecast 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 program on Tuesday, November 5th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.
The firm 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. The ex-dividend date was Wednesday, November 20th. This is a boost from Marathon Petroleum's previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a dividend yield of 2.38%. Marathon Petroleum's dividend payout ratio (DPR) is 28.84%.
In related news, Director Jeffrey C. Campbell bought 6,000 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The shares were bought at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the acquisition, the director now owns 6,090 shares of the company's stock, valued at $911,124.90. This trade represents a 6,666.67 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.21% of the stock is owned by insiders.
A number of equities analysts have commented on MPC shares. Barclays decreased their price target on Marathon Petroleum from $168.00 to $159.00 and set an "overweight" rating on the stock in a research note on Monday, November 11th. Piper Sandler dropped their price target on shares of Marathon Petroleum from $168.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday, September 20th. Citigroup decreased their price objective on shares of Marathon Petroleum from $172.00 to $167.00 and set a "neutral" rating on the stock in a research report on Thursday, October 10th. Mizuho cut their target price on Marathon Petroleum from $175.00 to $174.00 and set a "neutral" rating on the stock in a research note on Monday, December 16th. Finally, Scotiabank lowered their price target on Marathon Petroleum from $191.00 to $170.00 and set a "sector outperform" rating for the company in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Marathon Petroleum presently has a consensus rating of "Moderate Buy" and a consensus target price of $181.20.
Check Out Our Latest Analysis on MPC
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.
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