Resurgent Financial Advisors LLC Cuts Stake in Marathon Petroleum Co. (NYSE:MPC)

Resurgent Financial Advisors LLC cut its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 3.7% during the 4th quarter, HoldingsChannel reports. The fund owned 8,762 shares of the oil and gas company’s stock after selling 339 shares during the quarter. Resurgent Financial Advisors LLC’s holdings in Marathon Petroleum were worth $1,222,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MPC. Keeley Teton Advisors LLC grew its holdings in shares of Marathon Petroleum by 2.7% during the 4th quarter. Keeley Teton Advisors LLC now owns 6,590 shares of the oil and gas company’s stock valued at $919,000 after purchasing an additional 175 shares during the last quarter. Jump Financial LLC boosted its position in Marathon Petroleum by 195.5% during the fourth quarter. Jump Financial LLC now owns 3,800 shares of the oil and gas company’s stock valued at $530,000 after buying an additional 2,514 shares during the period. Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of Marathon Petroleum during the fourth quarter valued at about $20,602,000. Canada Post Corp Registered Pension Plan purchased a new position in shares of Marathon Petroleum in the fourth quarter worth about $492,000. Finally, LaSalle St. Investment Advisors LLC lifted its stake in shares of Marathon Petroleum by 6.6% in the 4th quarter. LaSalle St. Investment Advisors LLC now owns 3,161 shares of the oil and gas company’s stock valued at $441,000 after acquiring an additional 197 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MPC shares. Wells Fargo & Company reduced their price target on Marathon Petroleum from $185.00 to $175.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Raymond James cut their target price on shares of Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 9th. Piper Sandler lowered their price target on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Barclays dropped their price target on shares of Marathon Petroleum from $161.00 to $141.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Scotiabank decreased their price objective on shares of Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating on the stock in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $175.79.

Insider Buying and Selling

In other Marathon Petroleum news, insider Ricky D. Hessling bought 2,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the completion of the acquisition, the insider now owns 12,162 shares of the company’s stock, valued at approximately $1,638,464.64. This trade represents a 19.68 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Evan Bayh purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the purchase, the director now directly owns 69,305 shares in the company, valued at $9,266,078.50. The trade was a 1.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.25% of the stock is currently owned by insiders.

Marathon Petroleum Stock Performance

Marathon Petroleum stock opened at $122.19 on Wednesday. Marathon Petroleum Co. has a fifty-two week low of $115.10 and a fifty-two week high of $207.68. The stock has a market cap of $38.07 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 3.11 and a beta of 1.04. The stock’s 50 day simple moving average is $142.41 and its two-hundred day simple moving average is $148.26. 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 (NYSE:MPC) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.71. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The company had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $31.94 billion. During the same period in the prior year, the firm earned $3.98 earnings per share. The firm’s revenue for the quarter was down 9.1% on a year-over-year basis. As a group, analysts expect that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 19th were given a dividend of $0.91 per share. The ex-dividend date was Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a yield of 2.98%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 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.