Swiss National Bank Decreases Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

by · The Markets Daily

Swiss National Bank reduced its position in shares of Marathon Petroleum Co. (NYSE:MPC – Free Report) by 9.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 945,466 shares of the oil and gas company’s stock after selling 100,300 shares during the period. Swiss National Bank owned 0.29% of Marathon Petroleum worth $131,893,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. SWS Partners increased its stake in shares of Marathon Petroleum by 19.0% during the fourth quarter. SWS Partners now owns 17,577 shares of the oil and gas company’s stock valued at $2,452,000 after buying an additional 2,806 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Marathon Petroleum by 1,204.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock valued at $75,757,000 after acquiring an additional 501,441 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Marathon Petroleum by 27.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company’s stock worth $7,033,000 after purchasing an additional 9,355 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its position in shares of Marathon Petroleum by 747.3% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company’s stock worth $3,466,000 after purchasing an additional 18,764 shares during the period. Finally, World Investment Advisors LLC boosted its stake in shares of Marathon Petroleum by 4,227.5% during the 3rd quarter. World Investment Advisors LLC now owns 69,759 shares of the oil and gas company’s stock valued at $11,364,000 after purchasing an additional 68,147 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Price Performance

NYSE MPC opened at $136.82 on Friday. 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 company has a market capitalization of $42.77 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 3.11 and a beta of 1.39. The stock has a 50-day moving average of $148.39 and a 200 day moving average of $153.39. Marathon Petroleum Co. has a one year low of $130.54 and a one year high of $221.11.

Marathon Petroleum (NYSE:MPC – Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.71. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The company had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $31.94 billion. During the same quarter in the prior year, the firm earned $3.98 earnings per share. The firm’s revenue for the quarter was down 9.1% compared to the same quarter last year. On average, sell-side analysts forecast that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 19th were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.66%. The ex-dividend date was Wednesday, February 19th. Marathon Petroleum’s payout ratio is currently 36.66%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Wells Fargo & Company increased their target price on Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Piper Sandler lowered their target price on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. TD Cowen reiterated a “buy” rating and issued a $170.00 price objective on shares of Marathon Petroleum in a report on Tuesday, December 10th. Finally, Mizuho reduced their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average price target of $182.00.

View Our Latest Analysis on Marathon Petroleum

Insider Activity at Marathon Petroleum

In other news, insider Ricky D. Hessling purchased 2,000 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was acquired at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the purchase, the insider now directly owns 12,162 shares in the company, valued at $1,638,464.64. This trade represents a 19.68 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Evan Bayh acquired 1,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the purchase, the director now directly owns 69,305 shares in the company, valued at approximately $9,266,078.50. This trade represents a 1.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.21% of the stock is owned by company insiders.

About Marathon Petroleum

(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.

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