Valley National Advisers Inc. Reduces Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Valley National Advisers Inc. lowered its stake in Marathon Petroleum Co. (NYSE:MPC) by 29.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 639 shares of the oil and gas company’s stock after selling 269 shares during the quarter. Valley National Advisers Inc.’s holdings in Marathon Petroleum were worth $39,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Amundi purchased a new position in shares of Marathon Petroleum during the 2nd quarter valued at $307,220,000. Ceredex Value Advisors LLC bought a new stake in Marathon Petroleum in the 3rd quarter valued at $120,697,000. Macquarie Group Ltd. increased its holdings in Marathon Petroleum by 13,353.0% in the 2nd quarter. Macquarie Group Ltd. now owns 1,284,759 shares of the oil and gas company’s stock valued at $77,625,000 after acquiring an additional 1,275,209 shares during the last quarter. AGF Investments Inc. increased its holdings in shares of Marathon Petroleum by 35.9% in the 2nd quarter. AGF Investments Inc. now owns 2,790,123 shares of the oil and gas company’s stock worth $168,579,000 after buying an additional 736,307 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in shares of Marathon Petroleum by 15.3% during the 2nd quarter. Lord Abbett & CO. LLC now owns 5,223,336 shares of the oil and gas company’s stock worth $315,595,000 after purchasing an additional 693,328 shares during the period. Institutional investors and hedge funds own 76.76% of the company’s stock.

In other news, Director Charles E. Bunch bought 1,000 shares of Marathon Petroleum stock in a transaction that occurred on Wednesday, November 24th. The shares were acquired at an average price of $64.30 per share, with a total value of $64,300.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

MPC has been the subject of several research reports. Piper Sandler boosted their price objective on shares of Marathon Petroleum from $66.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, September 16th. Citigroup upped their price target on shares of Marathon Petroleum from $67.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, October 7th. Wells Fargo & Company boosted their price objective on shares of Marathon Petroleum from $73.00 to $87.00 and gave the stock an “overweight” rating in a research note on Monday, November 15th. The Goldman Sachs Group lowered shares of Marathon Petroleum from a “conviction-buy” rating to a “buy” rating in a research note on Wednesday, November 3rd. Finally, Cowen increased their price target on shares of Marathon Petroleum from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, December 28th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $73.43.

Marathon Petroleum stock traded up $0.71 during mid-day trading on Friday, reaching $73.83. 47,925 shares of the company were exchanged, compared to its average volume of 6,079,398. The company has a fifty day simple moving average of $64.67 and a 200-day simple moving average of $61.48. The firm has a market cap of $45.45 billion, a PE ratio of 5.22, a PEG ratio of 0.62 and a beta of 2.09. Marathon Petroleum Co. has a 12 month low of $42.32 and a 12 month high of $74.14. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.02 and a quick ratio of 1.48.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Monday, November 1st. The oil and gas company reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The firm had revenue of $32.61 billion during the quarter, compared to analyst estimates of $17.12 billion. Marathon Petroleum had a return on equity of 0.50% and a net margin of 8.85%. During the same period last year, the company posted ($1.00) EPS. Sell-side analysts anticipate that Marathon Petroleum Co. will post 1.69 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 10th. Shareholders of record on Wednesday, November 17th were issued a dividend of $0.58 per share. The ex-dividend date of this dividend was Tuesday, November 16th. This represents a $2.32 dividend on an annualized basis and a yield of 3.14%. Marathon Petroleum’s payout ratio is 16.56%.

Marathon Petroleum Profile

Marathon Petroleum Corp. is an independent company, which engages in refining, marketing, and transportation of petroleum products in the United States. Itoperates through the following segments: Refining and Marketing; Retail; and Midstream. The Refining and Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States; purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals, and trucks that the company owns or operates.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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