Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Jacobi Capital Management LLC

Jacobi Capital Management LLC decreased its holdings in Marathon Petroleum Co. (NYSE:MPC) by 21.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,850 shares of the oil and gas company’s stock after selling 510 shares during the quarter. Jacobi Capital Management LLC’s holdings in Marathon Petroleum were worth $258,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MPC. Gladius Capital Management LP acquired a new position in Marathon Petroleum in the third quarter worth approximately $26,000. MeadowBrook Investment Advisors LLC grew its position in Marathon Petroleum by 88.9% in the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after buying an additional 80 shares during the last quarter. True Wealth Design LLC grew its position in Marathon Petroleum by 672.7% in the third 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 during the last quarter. Asset Planning Inc acquired a new position in Marathon Petroleum in the fourth quarter worth approximately $28,000. Finally, Harbor Capital Advisors Inc. acquired a new position in Marathon Petroleum in the third quarter worth approximately $30,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Trading Down 2.9 %

Shares of NYSE:MPC opened at $145.75 on Tuesday. The firm has a fifty day moving average of $148.39 and a two-hundred day moving average of $155.21. The firm has a market capitalization of $46.84 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 3.11 and a beta of 1.41. Marathon Petroleum Co. has a 12-month low of $130.54 and a 12-month high of $221.11. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.71. The company had revenue of $33.47 billion during the quarter, compared to analyst estimates of $31.94 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter last year, the business posted $3.98 EPS. On average, equities analysts expect that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.

Marathon Petroleum announced that its board has initiated a stock repurchase plan 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 reacquire up to 10% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Wednesday, February 19th. Marathon Petroleum’s payout ratio is presently 36.66%.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell acquired 6,000 shares of Marathon Petroleum stock in a transaction that occurred on 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 owns 6,090 shares in the company, valued at approximately $911,124.90. This trade represents a 6,666.67 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MPC has been the topic of several recent research reports. Raymond James lifted their price target on shares of Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 17th. Mizuho lowered their price objective on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. TD Cowen reiterated a “buy” rating and set a $170.00 price objective on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company lifted their price objective on shares of Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $181.27.

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.