Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. lessened its holdings in Marathon Petroleum Co. (NYSE:MPC) by 21.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,460 shares of the oil and gas company’s stock after selling 680 shares during the quarter. Cullinan Associates Inc.’s holdings in Marathon Petroleum were worth $343,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Catalyst Financial Partners LLC boosted its holdings in Marathon Petroleum by 1.6% in the third quarter. Catalyst Financial Partners LLC now owns 4,285 shares of the oil and gas company’s stock worth $698,000 after purchasing an additional 67 shares during the period. OLD Second National Bank of Aurora boosted its holdings in shares of Marathon Petroleum by 7.2% during the fourth quarter. OLD Second National Bank of Aurora now owns 994 shares of the oil and gas company’s stock valued at $139,000 after acquiring an additional 67 shares during the period. American Trust boosted its holdings in shares of Marathon Petroleum by 5.3% during the third quarter. American Trust now owns 1,397 shares of the oil and gas company’s stock valued at $228,000 after acquiring an additional 70 shares during the period. Financial Partners Group LLC boosted its holdings in shares of Marathon Petroleum by 3.3% during the third quarter. Financial Partners Group LLC now owns 2,220 shares of the oil and gas company’s stock valued at $362,000 after acquiring an additional 71 shares during the period. Finally, Avior Wealth Management LLC boosted its holdings in shares of Marathon Petroleum by 3.4% during the fourth quarter. Avior Wealth Management LLC now owns 2,171 shares of the oil and gas company’s stock valued at $303,000 after acquiring an additional 71 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Shares of Marathon Petroleum stock opened at $156.90 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The company’s 50-day moving average price is $146.07 and its two-hundred day moving average price is $157.84. Marathon Petroleum Co. has a 52 week low of $130.54 and a 52 week high of $221.11. The stock has a market cap of $50.42 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 2.77 and a beta of 1.41.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.71. The firm had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $31.94 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.98 EPS. As a group, sell-side analysts anticipate that Marathon Petroleum Co. will post 8.88 EPS for the current fiscal year.

Marathon Petroleum declared that its board has authorized a stock buyback plan on Tuesday, November 5th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to reacquire up to 10% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th will be issued a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.64 annualized dividend and a yield of 2.32%. Marathon Petroleum’s payout ratio is presently 28.84%.

Insiders Place Their Bets

In related news, Director Jeffrey C. Campbell acquired 6,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were purchased at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the acquisition, the director now owns 6,090 shares in the company, valued at approximately $911,124.90. This represents a 6,666.67 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Raymond James boosted their price target 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. Citigroup reduced their price target on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Barclays cut their price objective on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. TD Cowen restated a “buy” rating and set a $170.00 price objective on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average target price of $181.20.

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.