Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Jacobi Capital Management LLC

Jacobi Capital Management LLC cut its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 21.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,850 shares of the oil and gas company’s stock after selling 510 shares during the period. Jacobi Capital Management LLC’s holdings in Marathon Petroleum were worth $258,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Gladius Capital Management LP acquired a new position in Marathon Petroleum in the third quarter worth about $26,000. MeadowBrook Investment Advisors LLC grew its stake in Marathon Petroleum by 88.9% in the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 80 shares in the last quarter. True Wealth Design LLC grew its stake in Marathon Petroleum by 672.7% in the third quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 148 shares in the last quarter. Asset Planning Inc acquired a new position in Marathon Petroleum in the fourth quarter worth about $28,000. Finally, Harbor Capital Advisors Inc. acquired a new position in Marathon Petroleum in the third quarter worth about $30,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Marathon Petroleum

In related news, Director Jeffrey C. Campbell acquired 6,000 shares of the stock in a transaction that occurred 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 purchase, the director now directly owns 6,090 shares of the company’s stock, valued at $911,124.90. The trade was a 6,666.67 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.21% of the company’s stock.

Marathon Petroleum Stock Performance

MPC opened at $145.75 on Tuesday. The business’s 50 day moving average is $148.39 and its 200-day moving average is $155.21. The stock has a market cap of $46.84 billion, a PE ratio of 14.68, a price-to-earnings-growth 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 twelve month low of $130.54 and a twelve month high of $221.11.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.71. The company 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%. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.98 earnings per share. On average, analysts predict that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum declared that its board has approved a share buyback 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 stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.50%. Marathon Petroleum’s dividend payout ratio is presently 36.66%.

Wall Street Analyst Weigh In

MPC has been the subject of a number of research reports. Barclays decreased their price target 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. TD Cowen reiterated a “buy” rating and issued a $170.00 price target on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Mizuho decreased their price target on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Wells Fargo & Company raised their target price on shares of Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Finally, Tudor Pickering raised shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $181.27.

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.