Mirae Asset Global Investments Co. Ltd. Sells 11,644 Shares of Marathon Petroleum Co. (NYSE:MPC)

Mirae Asset Global Investments Co. Ltd. cut its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 22.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,935 shares of the oil and gas company’s stock after selling 11,644 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Marathon Petroleum were worth $5,417,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its stake 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 valued at $75,757,000 after acquiring an additional 501,441 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in shares of Marathon Petroleum by 27.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company’s stock worth $7,033,000 after buying an additional 9,355 shares during the last quarter. Wilmington Savings Fund Society FSB grew its stake in Marathon Petroleum by 747.3% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company’s stock valued at $3,466,000 after buying an additional 18,764 shares during the last quarter. Holistic Planning LLC acquired a new stake in Marathon Petroleum during the third quarter worth approximately $912,000. Finally, World Investment Advisors LLC boosted its holdings in shares of Marathon Petroleum by 4,227.5% during the third quarter. World Investment Advisors LLC now owns 69,759 shares of the oil and gas company’s stock worth $11,364,000 after acquiring an additional 68,147 shares during the period. 76.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Jeffrey C. Campbell bought 6,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was acquired at an average price of $149.61 per share, with a total value 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 approximately $911,124.90. This represents a 6,666.67 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.21% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $150.13 on Friday. The business’s 50-day moving average price is $146.03 and its 200-day moving average price is $157.74. Marathon Petroleum Co. has a 12 month low of $130.54 and a 12 month high of $221.11. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $48.25 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 2.77 and a beta of 1.41.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.71. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The business had revenue of $33.47 billion during the quarter, compared to analyst estimates of $31.94 billion. During the same period last year, the company earned $3.98 EPS. Marathon Petroleum’s revenue for the quarter was down 9.1% compared to the same quarter last year. Equities research analysts forecast that Marathon Petroleum Co. will post 8.88 EPS for the current year.

Marathon Petroleum declared that its Board of Directors has initiated a share repurchase plan on Tuesday, November 5th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Marathon Petroleum Announces Dividend

The company 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 dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio is presently 28.84%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Raymond James increased their price objective 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. Mizuho decreased their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. TD Cowen reiterated a “buy” rating and issued a $170.00 price target on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Wells Fargo & Company raised their price target on Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, 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 research note on Monday, November 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average price target 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.