Intech Investment Management LLC Reduces Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Intech Investment Management LLC cut its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 29.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 293,239 shares of the oil and gas company’s stock after selling 123,838 shares during the period. Marathon Petroleum comprises 0.6% of Intech Investment Management LLC’s portfolio, making the stock its 27th biggest position. Intech Investment Management LLC owned 0.08% of Marathon Petroleum worth $43,505,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Marino Stram & Associates LLC lifted its position in Marathon Petroleum by 0.5% during the fourth quarter. Marino Stram & Associates LLC now owns 11,424 shares of the oil and gas company’s stock worth $1,695,000 after buying an additional 60 shares in the last quarter. SteelPeak Wealth LLC lifted its position in Marathon Petroleum by 0.3% during the fourth quarter. SteelPeak Wealth LLC now owns 20,408 shares of the oil and gas company’s stock worth $3,028,000 after buying an additional 67 shares in the last quarter. Aaron Wealth Advisors LLC lifted its position in Marathon Petroleum by 4.5% during the fourth quarter. Aaron Wealth Advisors LLC now owns 1,559 shares of the oil and gas company’s stock worth $231,000 after buying an additional 67 shares in the last quarter. Mission Wealth Management LP lifted its position in Marathon Petroleum by 0.8% during the fourth quarter. Mission Wealth Management LP now owns 8,756 shares of the oil and gas company’s stock worth $1,299,000 after buying an additional 67 shares in the last quarter. Finally, Empower Advisory Group LLC lifted its position in Marathon Petroleum by 1.6% during the third quarter. Empower Advisory Group LLC now owns 4,465 shares of the oil and gas company’s stock worth $676,000 after buying an additional 72 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Kim K.W. Rucker sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $170.35, for a total value of $170,350.00. Following the sale, the director now owns 23,446 shares in the company, valued at approximately $3,994,026.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.21% of the stock is currently owned by insiders.

Marathon Petroleum Stock Performance

MPC traded up $1.24 on Friday, hitting $177.80. 1,805,957 shares of the company traded hands, compared to its average volume of 2,557,228. The company has a 50 day moving average of $194.16 and a 200-day moving average of $171.12. The company has a quick ratio of 0.99, a current ratio of 1.43 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $62.64 billion, a PE ratio of 8.88, a PEG ratio of 1.49 and a beta of 1.55. Marathon Petroleum Co. has a 12-month low of $104.32 and a 12-month high of $221.11.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.25. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The company had revenue of $32.71 billion for the quarter, compared to analysts’ expectations of $32.07 billion. During the same quarter in the previous year, the firm posted $6.09 EPS. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. Sell-side analysts anticipate that Marathon Petroleum Co. will post 19.88 earnings per share for the current year.

Marathon Petroleum announced that its board has initiated a share repurchase plan on Tuesday, April 30th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 7.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 1.86%. The ex-dividend date is Wednesday, May 15th. Marathon Petroleum’s payout ratio is 16.48%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MPC shares. Barclays cut their target price on Marathon Petroleum from $221.00 to $195.00 and set an “overweight” rating for the company in a research note on Monday, May 6th. Bank of America raised their target price on Marathon Petroleum from $185.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Scotiabank lifted their price objective on Marathon Petroleum from $175.00 to $207.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Piper Sandler dropped their price objective on Marathon Petroleum from $204.00 to $190.00 and set a “neutral” rating for the company in a research note on Tuesday, May 14th. Finally, Mizuho boosted their target price on Marathon Petroleum from $200.00 to $203.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $190.77.

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.