Miller Howard Investments Inc. NY Reduces Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Miller Howard Investments Inc. NY decreased its stake in Marathon Petroleum Co. (NYSE:MPC) by 25.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,881 shares of the oil and gas company’s stock after selling 8,601 shares during the period. Miller Howard Investments Inc. NY’s holdings in Marathon Petroleum were worth $3,471,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of MPC. Gladius Capital Management LP purchased a new position in shares of Marathon Petroleum during the third quarter worth about $26,000. MeadowBrook Investment Advisors LLC grew its stake in Marathon Petroleum by 88.9% during the 3rd 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 increased its position in Marathon Petroleum by 672.7% during 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 period. Harbor Capital Advisors Inc. acquired a new stake in shares of Marathon Petroleum in the third quarter valued at approximately $30,000. Finally, Darwin Wealth Management LLC purchased a new position in shares of Marathon Petroleum during the third quarter worth approximately $33,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Mizuho decreased their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Raymond James boosted their price target on Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a research report on Friday, January 17th. Wells Fargo & Company lifted their target price on Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Bank of America initiated coverage on Marathon Petroleum in a research note on Thursday, October 17th. They set a “neutral” rating and a $174.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $181.27.

Insider Activity

In related news, Director Jeffrey C. Campbell bought 6,000 shares of Marathon Petroleum stock in a transaction that occurred on Wednesday, December 4th. The shares were purchased 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 $911,124.90. This represents a 6,666.67 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.21% of the company’s stock.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $150.13 on Friday. Marathon Petroleum Co. has a 12 month low of $130.54 and a 12 month high of $221.11. The firm has a market capitalization of $48.25 billion, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 2.91 and a beta of 1.41. The business’s 50 day simple moving average is $145.91 and its 200-day simple moving average is $157.63. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.71. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The company had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. During the same quarter in the prior year, the company earned $3.98 earnings per share. Marathon Petroleum’s revenue was down 9.1% compared to the same quarter last year. As a group, equities analysts forecast that Marathon Petroleum Co. will post 8.7 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 36.66%.

Marathon Petroleum announced that its board has approved a share repurchase plan on Tuesday, November 5th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to buy up to 10% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Marathon Petroleum 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.