Simon Quick Advisors LLC Reduces Position in Marathon Petroleum Co. (NYSE:MPC)

Simon Quick Advisors LLC decreased its position in Marathon Petroleum Co. (NYSE:MPC) by 6.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,122 shares of the oil and gas company’s stock after selling 207 shares during the period. Simon Quick Advisors LLC’s holdings in Marathon Petroleum were worth $435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $154.37 on Friday. The company has a fifty day simple moving average of $147.38 and a 200-day simple moving average of $158.72. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $49.61 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 2.94 and a beta of 1.42. Marathon Petroleum Co. has a 52-week low of $130.54 and a 52-week high of $221.11.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.90. The company had revenue of $35.37 billion during the quarter, compared to the consensus estimate of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. Marathon Petroleum’s quarterly revenue was down 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.14 EPS. On average, equities analysts anticipate that Marathon Petroleum Co. will post 8.88 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were issued a $0.91 dividend. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend was Wednesday, November 20th. Marathon Petroleum’s dividend payout ratio is presently 28.84%.

Marathon Petroleum declared that its Board of Directors has authorized a stock repurchase 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 repurchase up to 10% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

MPC has been the topic of several analyst reports. Scotiabank cut their price target on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Wells Fargo & Company decreased their price target on Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Bank of America started coverage on shares of Marathon Petroleum in a research note on Thursday, October 17th. They set a “neutral” rating and a $174.00 price objective on the stock. BMO Capital Markets decreased their target price on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Finally, Raymond James lifted their price objective on shares of Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a report on Friday, January 17th. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.20.

Insiders Place Their Bets

In other news, Director Jeffrey C. Campbell purchased 6,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was acquired at an average price of $149.61 per share, with a total value of $897,660.00. Following the purchase, the director now directly owns 6,090 shares in the company, valued at approximately $911,124.90. This represents a 6,666.67 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.21% of the company’s stock.

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.