GAMMA Investing LLC Sells 630 Shares of Marathon Petroleum Co. (NYSE:MPC)

GAMMA Investing LLC reduced its stake in Marathon Petroleum Co. (NYSE:MPC) by 5.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,226 shares of the oil and gas company’s stock after selling 630 shares during the period. GAMMA Investing LLC’s holdings in Marathon Petroleum were worth $1,427,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Foundations Investment Advisors LLC grew its stake in Marathon Petroleum by 60.7% in the second quarter. Foundations Investment Advisors LLC now owns 5,847 shares of the oil and gas company’s stock valued at $1,014,000 after acquiring an additional 2,208 shares during the period. Belpointe Asset Management LLC grew its holdings in shares of Marathon Petroleum by 19.2% during the second quarter. Belpointe Asset Management LLC now owns 4,336 shares of the oil and gas company’s stock valued at $752,000 after buying an additional 697 shares during the last quarter. FineMark National Bank & Trust increased its position in shares of Marathon Petroleum by 1.8% during the second quarter. FineMark National Bank & Trust now owns 8,650 shares of the oil and gas company’s stock worth $1,501,000 after acquiring an additional 154 shares in the last quarter. Range Financial Group LLC raised its holdings in shares of Marathon Petroleum by 5.2% in the 2nd quarter. Range Financial Group LLC now owns 1,843 shares of the oil and gas company’s stock worth $320,000 after acquiring an additional 91 shares during the last quarter. Finally, SouthState Corp lifted its position in Marathon Petroleum by 1.5% in the 2nd quarter. SouthState Corp now owns 4,122 shares of the oil and gas company’s stock valued at $715,000 after acquiring an additional 61 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insiders Place Their Bets

In other Marathon Petroleum news, Director Jeffrey C. Campbell purchased 6,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were purchased at an average price of $149.61 per share, with a total value of $897,660.00. Following the acquisition, the director now directly owns 6,090 shares in the company, valued at approximately $911,124.90. The trade was a 6,666.67 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Citigroup lowered their price objective on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Barclays reduced their target price on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Tudor Pickering lowered shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. Piper Sandler reduced their price objective on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Finally, Mizuho cut their target price 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. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $184.00.

Marathon Petroleum Stock Up 0.9 %

Marathon Petroleum stock opened at $142.74 on Friday. The firm has a 50 day simple moving average of $148.44 and a 200 day simple moving average of $161.41. 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 1-year low of $130.54 and a 1-year high of $221.11. The firm has a market capitalization of $45.88 billion, a price-to-earnings ratio of 11.31, a P/E/G ratio of 2.56 and a beta of 1.42.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.90. The business had revenue of $35.37 billion for the quarter, compared to analysts’ expectations of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The firm’s quarterly revenue was down 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $8.14 EPS. On average, analysts predict that Marathon Petroleum Co. will post 9.47 earnings per share for the current year.

Marathon Petroleum announced that its Board of Directors has authorized 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 usually a sign that the company’s board of directors believes its stock is undervalued.

Marathon Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th were issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date was Wednesday, November 20th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio is 28.84%.

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.