Sawgrass Asset Management LLC Decreases Stake in Marathon Petroleum Co. (NYSE:MPC)

Sawgrass Asset Management LLC lowered its stake in Marathon Petroleum Co. (NYSE:MPC) by 27.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,219 shares of the oil and gas company’s stock after selling 3,956 shares during the period. Sawgrass Asset Management LLC’s holdings in Marathon Petroleum were worth $1,426,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Avidian Wealth Enterprises LLC raised its holdings in shares of Marathon Petroleum by 31.1% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 13,671 shares of the oil and gas company’s stock worth $1,907,000 after buying an additional 3,243 shares during the last quarter. Kentucky Trust Co purchased a new position in shares of Marathon Petroleum during the fourth quarter worth $93,000. Capital Advisors Inc. OK raised its holdings in shares of Marathon Petroleum by 8.8% during the fourth quarter. Capital Advisors Inc. OK now owns 5,599 shares of the oil and gas company’s stock worth $781,000 after purchasing an additional 455 shares during the last quarter. Schear Investment Advisers LLC raised its holdings in shares of Marathon Petroleum by 9.7% during the fourth quarter. Schear Investment Advisers LLC now owns 2,511 shares of the oil and gas company’s stock worth $350,000 after purchasing an additional 223 shares during the last quarter. Finally, Peterson Wealth Services raised its holdings in shares of Marathon Petroleum by 5.3% during the fourth quarter. Peterson Wealth Services now owns 17,517 shares of the oil and gas company’s stock worth $2,444,000 after purchasing an additional 887 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell acquired 6,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were bought at an average cost of $149.61 per share, with a total value of $897,660.00. Following the transaction, the director now owns 6,090 shares of the company’s stock, valued at approximately $911,124.90. This trade represents a 6,666.67 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MPC shares. Tudor Pickering raised shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. TD Cowen reaffirmed a “buy” rating and issued a $170.00 price objective on shares of Marathon Petroleum in a report on Tuesday, December 10th. Barclays cut their price objective on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Wells Fargo & Company lifted their target price on shares of Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Finally, Bank of America began coverage on shares of Marathon Petroleum in a research report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $181.27.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $149.26 on Thursday. The firm has a market cap of $47.97 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 2.91 and a beta of 1.41. Marathon Petroleum Co. has a 52-week low of $130.54 and a 52-week 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. The company’s 50 day moving average is $145.84 and its two-hundred day moving average is $157.27.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The company had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. During the same period in the prior year, the business earned $3.98 EPS. The firm’s quarterly revenue was down 9.1% on a year-over-year basis. On average, research analysts expect that Marathon Petroleum Co. will post 8.7 EPS for the current fiscal year.

Marathon Petroleum announced that its board has approved a stock buyback program on Tuesday, November 5th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the oil and gas company to buy up to 10% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend is Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio (DPR) is 36.66%.

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.