Marathon Petroleum Co. (NYSE:MPC) Shares Acquired by Sitrin Capital Management LLC

Sitrin Capital Management LLC boosted its position in Marathon Petroleum Co. (NYSE:MPC) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,826 shares of the oil and gas company’s stock after acquiring an additional 221 shares during the quarter. Marathon Petroleum accounts for 2.2% of Sitrin Capital Management LLC’s investment portfolio, making the stock its 29th biggest position. Sitrin Capital Management LLC’s holdings in Marathon Petroleum were worth $4,440,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its holdings in shares of Marathon Petroleum by 1,204.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock worth $75,757,000 after purchasing an additional 501,441 shares during the period. Oppenheimer Asset Management Inc. lifted its position in Marathon Petroleum by 27.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company’s stock valued at $7,033,000 after buying an additional 9,355 shares in the last quarter. Wilmington Savings Fund Society FSB grew its stake in Marathon Petroleum by 747.3% during the third quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company’s stock worth $3,466,000 after buying an additional 18,764 shares during the period. Holistic Planning LLC acquired a new stake in shares of Marathon Petroleum in the third quarter worth $912,000. Finally, World Investment Advisors LLC lifted its holdings in shares of Marathon Petroleum by 4,227.5% during the 3rd quarter. World Investment Advisors LLC now owns 69,759 shares of the oil and gas company’s stock valued at $11,364,000 after acquiring an additional 68,147 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $150.60 on Wednesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. Marathon Petroleum Co. has a 1 year low of $130.54 and a 1 year high of $221.11. The firm’s 50-day simple moving average is $147.27 and its 200-day simple moving average is $156.07. The firm has a market cap of $48.40 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 3.11 and a beta of 1.41.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.71. The firm had revenue of $33.47 billion for the quarter, compared to analysts’ expectations 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 for the quarter was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.98 earnings per share. Equities analysts forecast that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

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

Marathon Petroleum Dividend Announcement

The firm 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 $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio is presently 36.66%.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell purchased 6,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was acquired at an average cost of $149.61 per share, with a total value of $897,660.00. Following the acquisition, the director now owns 6,090 shares of the company’s stock, valued at approximately $911,124.90. This represents a 6,666.67 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.21% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on MPC shares. TD Cowen reiterated a “buy” rating and issued a $170.00 price target on shares of Marathon Petroleum in a report on Tuesday, December 10th. Barclays lowered their target price on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Wells Fargo & Company boosted their price target on Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Mizuho decreased their price target on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Finally, Raymond James lifted their price objective on shares of Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a research note on Friday, January 17th. One research 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.