CWA Asset Management Group LLC Cuts Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

CWA Asset Management Group LLC reduced its position in Marathon Petroleum Co. (NYSE:MPC) by 73.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,407 shares of the oil and gas company’s stock after selling 6,500 shares during the period. CWA Asset Management Group LLC’s holdings in Marathon Petroleum were worth $336,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wellington Management Group LLP increased its holdings in shares of Marathon Petroleum by 342.1% in the 3rd 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. Pacer Advisors Inc. increased its holdings in Marathon Petroleum by 8.8% in the 3rd quarter. Pacer Advisors Inc. now owns 2,905,610 shares of the oil and gas company’s stock worth $473,353,000 after buying an additional 235,795 shares in the last quarter. Bank of Montreal Can raised its position in Marathon Petroleum by 45.4% in the 3rd quarter. Bank of Montreal Can now owns 1,329,422 shares of the oil and gas company’s stock worth $217,560,000 after buying an additional 415,368 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Marathon Petroleum by 19,153.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company’s stock valued at $213,605,000 after acquiring an additional 1,304,372 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Marathon Petroleum by 6.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,285,248 shares of the oil and gas company’s stock valued at $222,965,000 after acquiring an additional 72,192 shares during the last quarter. 76.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Jeffrey C. Campbell purchased 6,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were purchased at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the purchase, the director now owns 6,090 shares in the company, valued at approximately $911,124.90. This represents a 6,666.67 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.21% of the stock is owned by corporate insiders.

Marathon Petroleum Price Performance

MPC stock opened at $142.36 on Thursday. The company’s fifty day moving average price is $147.92 and its 200-day moving average price is $160.47. Marathon Petroleum Co. has a one year low of $130.54 and a one year high of $221.11. The company has a market capitalization of $45.75 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 2.56 and a beta of 1.42. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.90. The firm had revenue of $35.37 billion during the quarter, compared to analyst estimates of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. Marathon Petroleum’s revenue for the quarter was down 14.9% compared to the same quarter last year. During the same period last year, the firm posted $8.14 earnings per share. On average, equities analysts anticipate that Marathon Petroleum Co. will post 9.47 EPS for the current fiscal year.

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

Marathon Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th were given a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 dividend on an annualized basis and a yield of 2.56%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 28.84%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Marathon Petroleum from $183.00 to $186.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. cut their price objective on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Citigroup reduced their price objective on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a research report on Thursday, October 10th. Mizuho cut their price target 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. Finally, Bank of America started coverage on shares of Marathon Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average price target of $184.00.

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.