Marathon Petroleum Co. (NYSE:MPC) Shares Acquired by Czech National Bank

Czech National Bank boosted its holdings in Marathon Petroleum Co. (NYSE:MPC) by 2.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,684 shares of the oil and gas company’s stock after acquiring an additional 1,506 shares during the quarter. Czech National Bank’s holdings in Marathon Petroleum were worth $9,721,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MPC. Dai ichi Life Insurance Company Ltd lifted its holdings in Marathon Petroleum by 8.0% in the second quarter. Dai ichi Life Insurance Company Ltd now owns 6,269 shares of the oil and gas company’s stock worth $1,088,000 after purchasing an additional 467 shares during the period. Brown Brothers Harriman & Co. raised its position in shares of Marathon Petroleum by 378.9% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 3,338 shares of the oil and gas company’s stock worth $579,000 after buying an additional 2,641 shares in the last quarter. Capital Wealth Planning LLC increased its stake in shares of Marathon Petroleum by 1.7% during the second quarter. Capital Wealth Planning LLC now owns 1,129,690 shares of the oil and gas company’s stock valued at $195,979,000 after acquiring an additional 19,060 shares during the period. Citizens Financial Group Inc. RI raised its holdings in Marathon Petroleum by 6.2% during the second quarter. Citizens Financial Group Inc. RI now owns 18,386 shares of the oil and gas company’s stock worth $3,190,000 after purchasing an additional 1,074 shares in the last quarter. Finally, Edgestream Partners L.P. lifted its position in Marathon Petroleum by 271.7% in the second quarter. Edgestream Partners L.P. now owns 15,686 shares of the oil and gas company’s stock worth $2,721,000 after purchasing an additional 11,466 shares during the period. Institutional investors own 76.77% of the company’s stock.

Insider Activity at Marathon Petroleum

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

Marathon Petroleum Stock Up 3.2 %

Marathon Petroleum stock opened at $146.83 on Tuesday. Marathon Petroleum Co. has a twelve month low of $130.54 and a twelve month high of $221.11. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The firm has a market cap of $47.19 billion, a PE ratio of 11.63, a P/E/G ratio of 2.56 and a beta of 1.42. The firm’s 50 day moving average price is $147.88 and its two-hundred day moving average price is $159.74.

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

Marathon Petroleum declared that its board has approved a stock buyback program 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 repurchase up to 10% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Marathon Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th were paid a $0.91 dividend. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.48%. Marathon Petroleum’s payout ratio is presently 28.84%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MPC. Morgan Stanley decreased their price target on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Barclays reduced their price objective on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Citigroup cut their target price on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Wells Fargo & Company decreased their price target on shares of Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Piper Sandler reduced their price objective on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $183.73.

About Marathon Petroleum

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.