Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in shares of Marathon Petroleum Co. (NYSE:MPCGet Rating) by 26.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,836,459 shares of the oil and gas company’s stock after selling 650,000 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.30% of Marathon Petroleum worth $117,515,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. increased its holdings in shares of Marathon Petroleum by 2.8% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 72,510 shares of the oil and gas company’s stock worth $4,640,000 after buying an additional 1,949 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Marathon Petroleum by 15.3% during the 4th quarter. Oppenheimer & Co. Inc. now owns 126,846 shares of the oil and gas company’s stock worth $8,117,000 after buying an additional 16,810 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in shares of Marathon Petroleum by 7.4% during the 4th quarter. Pinnacle Associates Ltd. now owns 54,799 shares of the oil and gas company’s stock worth $3,507,000 after buying an additional 3,755 shares during the last quarter. Meridian Wealth Advisors LLC increased its holdings in shares of Marathon Petroleum by 9.7% during the 4th quarter. Meridian Wealth Advisors LLC now owns 35,193 shares of the oil and gas company’s stock worth $2,252,000 after buying an additional 3,111 shares during the last quarter. Finally, Cim Investment Management Inc. increased its holdings in shares of Marathon Petroleum by 98.0% during the 4th quarter. Cim Investment Management Inc. now owns 21,172 shares of the oil and gas company’s stock worth $1,332,000 after buying an additional 10,481 shares during the last quarter. Institutional investors and hedge funds own 76.01% of the company’s stock.

Shares of Marathon Petroleum stock traded up $1.05 during trading on Friday, reaching $86.90. The company had a trading volume of 5,088,894 shares, compared to its average volume of 6,330,181. The company has a market cap of $48.54 billion, a price-to-earnings ratio of 5.80, a price-to-earnings-growth ratio of 1.20 and a beta of 1.92. The firm’s fifty day moving average is $79.12 and its 200-day moving average is $70.42. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.25 and a current ratio of 1.70. Marathon Petroleum Co. has a fifty-two week low of $50.19 and a fifty-two week high of $87.67.

Marathon Petroleum (NYSE:MPCGet Rating) last issued its earnings results on Wednesday, February 2nd. The oil and gas company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.83. The business had revenue of $35.61 billion for the quarter, compared to analyst estimates of $25.79 billion. Marathon Petroleum had a net margin of 8.05% and a return on equity of 4.74%. The company’s revenue for the quarter was up 95.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.94) EPS. On average, research analysts anticipate that Marathon Petroleum Co. will post 6.43 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 10th. Investors of record on Wednesday, February 16th were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Tuesday, February 15th. This represents a $2.32 annualized dividend and a yield of 2.67%. Marathon Petroleum’s dividend payout ratio (DPR) is 15.48%.

A number of brokerages recently weighed in on MPC. Piper Sandler cut shares of Marathon Petroleum from an “overweight” rating to a “neutral” rating and set a $76.00 price target for the company. in a research report on Tuesday, January 25th. Cowen upped their price target on shares of Marathon Petroleum from $83.00 to $90.00 in a research report on Thursday, February 3rd. Morgan Stanley upped their price target on shares of Marathon Petroleum from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 3rd. Zacks Investment Research raised shares of Marathon Petroleum from a “hold” rating to a “strong-buy” rating and set a $90.00 price target for the company in a research report on Monday, February 7th. Finally, Raymond James upped their price target on shares of Marathon Petroleum from $98.00 to $110.00 and gave the stock a “strong-buy” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $84.00.

In related news, VP Carl Kristopher Hagedorn sold 4,695 shares of the firm’s stock in a transaction that occurred on Friday, February 4th. The shares were sold at an average price of $77.66, for a total value of $364,613.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kim K.W. Rucker sold 5,000 shares of the stock in a transaction that occurred on Friday, March 11th. The stock was sold at an average price of $79.75, for a total transaction of $398,750.00. The disclosure for this sale can be found here. Insiders sold 14,695 shares of company stock worth $1,178,364 in the last 90 days. 0.28% of the stock is owned by company insiders.

About Marathon Petroleum (Get Rating)

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments: Refining & Marketing, and Midstream. 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.

See Also

Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Co. (NYSE:MPCGet Rating).

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

Receive News & Ratings for Marathon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.