Ninety One UK Ltd Sells 13,115 Shares of Marathon Petroleum Co. (NYSE:MPC)

Ninety One UK Ltd cut its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 9.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 131,719 shares of the oil and gas company’s stock after selling 13,115 shares during the period. Ninety One UK Ltd’s holdings in Marathon Petroleum were worth $19,542,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Bruce G. Allen Investments LLC bought a new position in Marathon Petroleum during the 4th quarter valued at $32,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of Marathon Petroleum during the 4th quarter valued at $40,000. Mascoma Wealth Management LLC purchased a new stake in shares of Marathon Petroleum during the 3rd quarter valued at $43,000. Peoples Bank KS purchased a new stake in shares of Marathon Petroleum during the 3rd quarter valued at $44,000. Finally, Exchange Traded Concepts LLC increased its position in shares of Marathon Petroleum by 811.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 319 shares of the oil and gas company’s stock valued at $47,000 after purchasing an additional 284 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MPC. The Goldman Sachs Group raised their target price on Marathon Petroleum from $175.00 to $211.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Piper Sandler lifted their price objective on Marathon Petroleum from $159.00 to $204.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Citigroup started coverage on Marathon Petroleum in a report on Wednesday, January 24th. They issued a “neutral” rating for the company. Mizuho lifted their price objective on Marathon Petroleum from $201.00 to $202.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Finally, Scotiabank lifted their price objective on Marathon Petroleum from $175.00 to $207.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $193.77.

Insider Activity

In other news, Director Kim K.W. Rucker sold 1,000 shares of Marathon Petroleum stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $170.35, for a total transaction of $170,350.00. Following the completion of the sale, the director now owns 23,446 shares in the company, valued at approximately $3,994,026.10. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Marathon Petroleum Stock Down 3.7 %

Shares of NYSE MPC opened at $195.01 on Friday. The company has a market cap of $70.27 billion, a P/E ratio of 8.29, a P/E/G ratio of 1.92 and a beta of 1.52. The company has a quick ratio of 1.13, a current ratio of 1.59 and a debt-to-equity ratio of 0.83. The business has a 50-day simple moving average of $188.96 and a two-hundred day simple moving average of $164.59. Marathon Petroleum Co. has a 52 week low of $104.32 and a 52 week high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, January 30th. The oil and gas company reported $3.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $1.77. The firm had revenue of $36.26 billion during the quarter, compared to the consensus estimate of $34.90 billion. Marathon Petroleum had a return on equity of 30.58% and a net margin of 6.44%. The company’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter last year, the company posted $6.65 EPS. Research analysts anticipate that Marathon Petroleum Co. will post 17.57 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Wednesday, February 21st were given a dividend of $0.825 per share. The ex-dividend date was Tuesday, February 20th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.69%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 14.02%.

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.