Bollard Group LLC Cuts Stake in Marathon Petroleum Co. (NYSE:MPC)

Bollard Group LLC lowered its stake in shares of Marathon Petroleum Co. (NYSE:MPC – Get Rating) by 29.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,334 shares of the oil and gas company’s stock after selling 990 shares during the period. Bollard Group LLC’s holdings in Marathon Petroleum were worth $272,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Armstrong Advisory Group Inc. acquired a new position in Marathon Petroleum during the fourth quarter worth about $25,000. Sit Investment Associates Inc. acquired a new position in Marathon Petroleum during the fourth quarter worth about $25,000. Ten Capital Wealth Advisors LLC acquired a new position in Marathon Petroleum during the third quarter worth about $29,000. Lansing Street Advisors acquired a new position in Marathon Petroleum during the fourth quarter worth about $32,000. Finally, Capital Advisors Ltd. LLC boosted its position in Marathon Petroleum by 199.3% during the fourth quarter. Capital Advisors Ltd. LLC now owns 808 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 538 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Marathon Petroleum Stock Performance

NYSE:MPC traded down $1.65 during trading hours on Friday, reaching $107.87. 822,579 shares of the company’s stock were exchanged, compared to its average volume of 3,920,983. The firm has a market capitalization of $45.77 billion, a price-to-earnings ratio of 3.31, a P/E/G ratio of 0.97 and a beta of 1.64. The company has a 50-day moving average of $121.56 and a 200 day moving average of $121.16. The company has a quick ratio of 1.30, a current ratio of 1.90 and a debt-to-equity ratio of 0.83. Marathon Petroleum Co. has a 1-year low of $77.62 and a 1-year high of $138.83.

Marathon Petroleum (NYSE:MPC – Get Rating) last released its quarterly earnings results on Tuesday, May 2nd. The oil and gas company reported $6.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.23 by $0.86. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $35.17 billion. Marathon Petroleum had a net margin of 9.28% and a return on equity of 46.49%. The firm’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same period last year, the company earned $1.49 EPS. Research analysts anticipate that Marathon Petroleum Co. will post 18.93 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 12th. Shareholders of record on Wednesday, May 17th will be issued a dividend of $0.75 per share. The ex-dividend date is Tuesday, May 16th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.78%. Marathon Petroleum’s dividend payout ratio (DPR) is 9.04%.

Marathon Petroleum announced that its board has initiated a share repurchase program on Tuesday, May 2nd that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 10.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

MPC has been the topic of several recent analyst reports. Jefferies Financial Group upgraded shares of Marathon Petroleum from a “hold” rating to a “buy” rating and boosted their target price for the company from $134.00 to $157.00 in a report on Friday, March 3rd. JPMorgan Chase & Co. lowered shares of Marathon Petroleum from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $137.00 to $149.00 in a report on Tuesday, March 28th. Barclays decreased their target price on shares of Marathon Petroleum from $139.00 to $124.00 in a report on Sunday, May 7th. Cowen boosted their target price on shares of Marathon Petroleum from $133.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, February 1st. Finally, Mizuho reduced their price target on shares of Marathon Petroleum from $160.00 to $148.00 in a research note on Friday, May 19th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.13.

Insider Transactions at Marathon Petroleum

In other news, SVP Suzanne Gagle sold 60,019 shares of the company’s stock in a transaction dated Tuesday, April 4th. The shares were sold at an average price of $134.28, for a total transaction of $8,059,351.32. Following the completion of the transaction, the senior vice president now owns 45,997 shares in the company, valued at $6,176,477.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Suzanne Gagle sold 60,019 shares of the firm’s stock in a transaction dated Tuesday, April 4th. The shares were sold at an average price of $134.28, for a total transaction of $8,059,351.32. Following the completion of the transaction, the senior vice president now owns 45,997 shares in the company, valued at approximately $6,176,477.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kim K.W. Rucker sold 6,000 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $130.00, for a total transaction of $780,000.00. Following the transaction, the director now owns 34,950 shares of the company’s stock, valued at approximately $4,543,500. The disclosure for this sale can be found here. Insiders own 0.28% of the company’s stock.

Marathon Petroleum Company Profile

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Marathon Petroleum Corp. is an independent company, which engages in the refining, marketing, and transportation of petroleum products in the United States. It operates through the following segments: Refining and Marketing, and Midstream. The Refining and Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals, and trucks that the company owns or operates.