Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lowered its position in Marathon Petroleum Co. (NYSE:MPC) by 90.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,960 shares of the oil and gas company’s stock after selling 19,104 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Marathon Petroleum were worth $273,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MPC. Wellington Management Group LLP boosted its position in Marathon Petroleum by 342.1% during the third quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock worth $911,274,000 after purchasing an additional 4,328,470 shares in the last quarter. ING Groep NV acquired a new position in shares of Marathon Petroleum during the 3rd quarter worth approximately $114,107,000. Pacer Advisors Inc. lifted its position in shares of Marathon Petroleum by 22.3% during the 4th quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company’s stock valued at $495,595,000 after buying an additional 647,045 shares in the last quarter. National Bank of Canada FI grew its stake in Marathon Petroleum by 212.9% in the 3rd quarter. National Bank of Canada FI now owns 846,756 shares of the oil and gas company’s stock valued at $137,945,000 after acquiring an additional 576,119 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Marathon Petroleum by 1,204.8% in 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 acquiring an additional 501,441 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $142.68 on Wednesday. The company’s 50-day moving average is $148.53 and its two-hundred day moving average is $154.95. The firm has a market capitalization of $45.86 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 3.11 and a beta of 1.41. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. Marathon Petroleum Co. has a 1-year low of $130.54 and a 1-year 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 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 during the quarter, compared to analyst estimates of $31.94 billion. During the same period in the prior year, the business posted $3.98 earnings per share. The firm’s revenue for the quarter was down 9.1% compared to the same quarter last year. Analysts forecast that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum announced that its board has initiated a share repurchase plan 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 repurchase up to 10% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th will be given a $0.91 dividend. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a yield of 2.55%. Marathon Petroleum’s payout ratio is currently 36.66%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MPC shares. Barclays decreased their price objective on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. TD Cowen reaffirmed a “buy” rating and issued a $170.00 price target on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Mizuho cut their price objective 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. Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, Raymond James boosted 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average 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.