Westover Capital Advisors LLC Lowers Stake in Marathon Petroleum Co. (NYSE:MPC)

Westover Capital Advisors LLC cut its stake in Marathon Petroleum Co. (NYSE:MPC) by 78.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,117 shares of the oil and gas company’s stock after selling 11,173 shares during the period. Westover Capital Advisors LLC’s holdings in Marathon Petroleum were worth $435,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its holdings in shares of Marathon Petroleum by 42.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,459 shares of the oil and gas company’s stock valued at $564,000 after buying an additional 1,038 shares in the last quarter. Pure Financial Advisors LLC bought a new position in Marathon Petroleum during the third quarter valued at approximately $718,000. Harbor Capital Advisors Inc. purchased a new position in shares of Marathon Petroleum during the third quarter worth approximately $30,000. Van ECK Associates Corp lifted its holdings in shares of Marathon Petroleum by 237.1% in the 3rd quarter. Van ECK Associates Corp now owns 69,402 shares of the oil and gas company’s stock worth $10,671,000 after acquiring an additional 48,814 shares during the last quarter. Finally, Intact Investment Management Inc. bought a new position in shares of Marathon Petroleum during the 3rd quarter valued at $68,000. Institutional investors own 76.77% of the company’s stock.

Insiders Place Their Bets

In other Marathon Petroleum news, Director Jeffrey C. Campbell acquired 6,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were acquired at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the acquisition, the director now owns 6,090 shares in the company, valued at $911,124.90. This trade represents a 6,666.67 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is owned by corporate insiders.

Marathon Petroleum Trading Down 2.9 %

NYSE:MPC opened at $145.75 on Tuesday. The company has a 50-day moving average price of $148.39 and a 200-day moving average price of $155.21. The stock has a market cap of $46.84 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 3.11 and a beta of 1.41. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a 12 month low of $130.54 and a 12 month 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. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The business had revenue of $33.47 billion during the quarter, compared to analyst estimates of $31.94 billion. During the same period last year, the business posted $3.98 earnings per share. Marathon Petroleum’s quarterly revenue was down 9.1% compared to the same quarter last year. Equities analysts predict that Marathon Petroleum Co. will post 8.47 EPS for the current year.

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

Marathon Petroleum Announces Dividend

The company also recently declared 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. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 annualized dividend and a yield of 2.50%. Marathon Petroleum’s payout ratio is 36.66%.

Analysts Set New Price Targets

Several research firms have weighed in on MPC. Wells Fargo & Company boosted their price target on shares of Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Barclays dropped their target price on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Raymond James raised their price target on 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 Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Finally, TD Cowen restated a “buy” rating and issued a $170.00 target price on shares of Marathon Petroleum in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given 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 a consensus target price of $181.27.

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.