Envestnet Asset Management Inc. Sells 86,556 Shares of Marathon Petroleum Co. (NYSE:MPC)

Envestnet Asset Management Inc. lowered its position in Marathon Petroleum Co. (NYSE:MPC) by 24.6% in the 4th quarter, Holdings Channel reports. The firm owned 264,694 shares of the oil and gas company’s stock after selling 86,556 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Marathon Petroleum were worth $36,925,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Kohmann Bosshard Financial Services LLC purchased a new position in Marathon Petroleum during the 4th quarter valued at $27,000. Asset Planning Inc purchased a new stake in shares of Marathon Petroleum during the fourth quarter valued at $28,000. Sierra Ocean LLC bought a new position in shares of Marathon Petroleum in the fourth quarter worth about $31,000. Cape Investment Advisory Inc. increased its stake in Marathon Petroleum by 762.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock worth $42,000 after buying an additional 267 shares during the period. Finally, OFI Invest Asset Management bought a new stake in Marathon Petroleum during the 4th quarter valued at about $44,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 1.4 %

NYSE:MPC opened at $123.29 on Friday. 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 $115.10 and a twelve month high of $214.00. The company has a market cap of $38.41 billion, a PE ratio of 12.42, a P/E/G ratio of 3.11 and a beta of 1.04. The company’s 50 day moving average is $143.65 and its two-hundred day moving average is $148.82.

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 for the quarter, beating analysts’ consensus estimates of $0.06 by $0.71. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The business had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. During the same period in the prior year, the company earned $3.98 earnings per share. The company’s revenue was down 9.1% on a year-over-year basis. Analysts anticipate that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend was Wednesday, February 19th. Marathon Petroleum’s payout ratio is 36.66%.

Wall Street Analyst Weigh In

MPC has been the topic of a number of research reports. Raymond James reduced 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 research report on Wednesday. Piper Sandler decreased their target price on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Mizuho cut their price target on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Barclays upped their price objective on shares of Marathon Petroleum from $159.00 to $161.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. Finally, Wells Fargo & Company reduced their price target on shares of Marathon Petroleum from $185.00 to $175.00 and set an “overweight” rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and an average price target of $177.21.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Ricky D. Hessling purchased 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average price of $134.72 per share, for a total transaction of $269,440.00. Following the purchase, the insider now directly owns 12,162 shares in the company, valued at approximately $1,638,464.64. This trade represents a 19.68 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Evan Bayh purchased 1,000 shares of Marathon Petroleum stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost of $133.70 per share, with a total value of $133,700.00. Following the acquisition, the director now directly owns 69,305 shares in the company, valued at $9,266,078.50. This trade represents a 1.46 % increase in their position. The disclosure for this purchase can be found here. 0.21% of the stock is owned by insiders.

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.