Polaris Capital Management LLC Sells 10,000 Shares of Marathon Petroleum Co. (NYSE:MPC)

Polaris Capital Management LLC trimmed its position in Marathon Petroleum Co. (NYSE:MPCFree Report) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 287,894 shares of the oil and gas company’s stock after selling 10,000 shares during the period. Marathon Petroleum makes up approximately 2.1% of Polaris Capital Management LLC’s investment portfolio, making the stock its 16th largest holding. Polaris Capital Management LLC owned 0.08% of Marathon Petroleum worth $42,712,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Marathon Petroleum in the fourth quarter valued at approximately $25,000. Bruce G. Allen Investments LLC bought a new stake in Marathon Petroleum during the fourth quarter worth $32,000. Bare Financial Services Inc bought a new position in Marathon Petroleum in the fourth quarter valued at about $32,000. Pittenger & Anderson Inc. bought a new position in Marathon Petroleum in the 4th quarter valued at approximately $36,000. Finally, Tennessee Valley Asset Management Partners acquired a new stake in shares of Marathon Petroleum during the 4th quarter valued at $40,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MPC. Bank of America raised their price objective on shares of Marathon Petroleum from $185.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. TD Cowen upped their price objective on Marathon Petroleum from $168.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Citigroup initiated coverage on Marathon Petroleum in a research note on Wednesday, January 24th. They issued a “neutral” rating on the stock. Scotiabank upped their price target on shares of Marathon Petroleum from $175.00 to $207.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Finally, Piper Sandler lifted their target price on Marathon Petroleum from $159.00 to $204.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.62.

Get Our Latest Report on Marathon Petroleum

Marathon Petroleum Stock Performance

NYSE MPC traded down $3.37 on Friday, reaching $179.56. 1,584,400 shares of the company’s stock traded hands, compared to its average volume of 2,170,583. The stock has a 50 day moving average price of $195.26 and a 200-day moving average price of $169.12. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 1.43. The firm has a market cap of $63.26 billion, a price-to-earnings ratio of 8.97, a P/E/G ratio of 1.57 and a beta of 1.55. Marathon Petroleum Co. has a fifty-two week low of $104.32 and a fifty-two week high of $221.11.

Marathon Petroleum (NYSE:MPCGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.25. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The company had revenue of $32.71 billion during the quarter, compared to analysts’ expectations of $32.07 billion. During the same period in the prior year, the business posted $6.09 earnings per share. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. Equities research analysts predict that Marathon Petroleum Co. will post 19.1 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be given a $0.825 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $3.30 dividend on an annualized basis and a yield of 1.84%. Marathon Petroleum’s payout ratio is currently 16.48%.

Marathon Petroleum declared that its board has initiated a share buyback program on Tuesday, April 30th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to buy up to 7.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 1,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $170.35, for a total value of $170,350.00. Following the sale, the director now directly owns 23,446 shares in the company, valued at $3,994,026.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is owned by insiders.

Marathon Petroleum Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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