Prudential Financial Inc. Has $25.19 Million Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Prudential Financial Inc. cut its position in Marathon Petroleum Co. (NYSE:MPC) by 20.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 180,578 shares of the oil and gas company’s stock after selling 47,672 shares during the period. Prudential Financial Inc. owned 0.06% of Marathon Petroleum worth $25,191,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MPC. OLD Second National Bank of Aurora increased 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 in the last quarter. Nixon Peabody Trust Co. increased its stake in Marathon Petroleum by 3.4% during the 4th quarter. Nixon Peabody Trust Co. now owns 2,068 shares of the oil and gas company’s stock valued at $288,000 after purchasing an additional 68 shares in the last quarter. Lake Street Advisors Group LLC lifted its stake in shares of Marathon Petroleum by 1.6% in the fourth quarter. Lake Street Advisors Group LLC now owns 4,271 shares of the oil and gas company’s stock valued at $596,000 after buying an additional 69 shares in the last quarter. American Trust increased its position 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 worth $228,000 after acquiring an additional 70 shares in the last quarter. Finally, DT Investment Partners LLC lifted its position in Marathon Petroleum by 21.5% in the 4th quarter. DT Investment Partners LLC now owns 395 shares of the oil and gas company’s stock valued at $55,000 after acquiring an additional 70 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Marathon Petroleum

In other news, insider Ricky D. Hessling purchased 2,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was purchased at an average price of $134.72 per share, with a total value of $269,440.00. Following the completion of the purchase, the insider now directly owns 12,162 shares in the company, valued at approximately $1,638,464.64. This trade represents a 19.68 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Evan Bayh acquired 1,000 shares of Marathon Petroleum stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the completion of the transaction, the director now directly owns 69,305 shares in the company, valued at approximately $9,266,078.50. The trade was a 1.46 % increase in their position. The disclosure for this purchase can be found here. 0.21% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Piper Sandler cut their target price on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Tudor Pickering raised Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Mizuho lowered their price target 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. Raymond James raised their price objective on shares of Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a report on Friday, January 17th. Finally, Wells Fargo & Company boosted their target price on shares of Marathon Petroleum from $183.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, March 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $180.21.

Marathon Petroleum Price Performance

NYSE:MPC opened at $149.63 on Thursday. The firm has a market capitalization of $46.62 billion, a price-to-earnings ratio of 15.07, a P/E/G ratio of 3.11 and a beta of 1.39. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The stock has a fifty day moving average of $149.01 and a 200 day moving average of $151.76. Marathon Petroleum Co. has a 52-week low of $130.54 and a 52-week high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, topping the consensus estimate 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 return on equity of 12.07% and a net margin of 2.45%. Marathon Petroleum’s revenue was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.98 earnings per share. On average, research analysts expect that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 36.66%.

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.