Ancora Advisors LLC Sells 1,472 Shares of Marathon Petroleum Co. (NYSE:MPC)

Ancora Advisors LLC trimmed its position in Marathon Petroleum Co. (NYSE:MPC) by 10.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 11,971 shares of the oil and gas company’s stock after selling 1,472 shares during the period. Ancora Advisors LLC’s holdings in Marathon Petroleum were worth $2,412,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Marathon Petroleum in the fourth quarter valued at $500,685,000. Capital Wealth Planning LLC grew its holdings in Marathon Petroleum by 10,902.9% during the 1st quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock worth $223,792,000 after acquiring an additional 1,100,536 shares during the period. Schroder Investment Management Group grew its holdings in Marathon Petroleum by 309.9% during the 4th quarter. Schroder Investment Management Group now owns 643,590 shares of the oil and gas company’s stock worth $95,483,000 after acquiring an additional 486,573 shares during the period. International Assets Investment Management LLC grew its holdings in Marathon Petroleum by 248.1% during the 4th quarter. International Assets Investment Management LLC now owns 608,888 shares of the oil and gas company’s stock worth $90,335,000 after acquiring an additional 433,977 shares during the period. Finally, Canoe Financial LP acquired a new stake in Marathon Petroleum during the 4th quarter worth about $33,604,000. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $177.02 on Thursday. Marathon Petroleum Co. has a 52 week low of $131.21 and a 52 week high of $221.11. The company’s 50 day moving average price is $171.78 and its two-hundred day moving average price is $178.51. 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 cap of $62.37 billion, a P/E ratio of 8.84, a P/E/G ratio of 2.15 and a beta of 1.40.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.53 by $0.25. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The firm had revenue of $32.71 billion for the quarter, compared to analysts’ expectations of $32.07 billion. During the same quarter last year, the firm earned $6.09 EPS. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. On average, equities analysts predict that Marathon Petroleum Co. will post 13.84 earnings per share for the current year.

Marathon Petroleum announced that its Board of Directors has initiated a stock buyback program on Tuesday, April 30th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the oil and gas company to buy up to 7.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 1.86%. Marathon Petroleum’s payout ratio is currently 16.48%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wells Fargo & Company decreased their price target on Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Barclays cut their price objective on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating on the stock in a research report on Monday, July 1st. Piper Sandler cut their price objective on shares of Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. Scotiabank cut their price objective on shares of Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Finally, Mizuho cut their price objective on shares of Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average target price of $193.64.

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.