Man Group plc Has $2.13 Million Holdings in Marathon Petroleum Co. (NYSE:MPC)

Man Group plc lessened its holdings in Marathon Petroleum Co. (NYSE:MPC) by 31.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,261 shares of the oil and gas company’s stock after selling 6,984 shares during the period. Man Group plc’s holdings in Marathon Petroleum were worth $2,129,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Marathon Petroleum in the 4th quarter worth about $27,000. Asset Planning Inc purchased a new stake in Marathon Petroleum in the 4th quarter valued at about $28,000. Sierra Ocean LLC purchased a new stake in Marathon Petroleum in the 4th quarter valued at about $31,000. Cape Investment Advisory Inc. increased its stake in Marathon Petroleum by 762.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 267 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new stake in Marathon Petroleum in the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Buying and Selling

In other news, insider Ricky D. Hessling bought 2,000 shares of the stock in a transaction on Tuesday, March 11th. The shares were 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 of the company’s stock, valued at $1,638,464.64. This trade represents a 19.68% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Evan Bayh bought 1,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was purchased at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the completion of the purchase, the director now directly owns 69,305 shares in the company, valued at approximately $9,266,078.50. This represents a 1.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.25% of the stock is owned by insiders.

Marathon Petroleum Stock Up 1.4%

MPC opened at $158.89 on Friday. The company has a 50 day moving average of $141.31 and a 200 day moving average of $145.98. The company has a market cap of $48.81 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 3.11 and a beta of 0.87. Marathon Petroleum Co. has a 12 month low of $115.10 and a 12 month high of $183.31. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.16. The company had revenue of $31.85 billion during the quarter, compared to the consensus estimate of $28.91 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. Marathon Petroleum’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period last year, the firm earned $2.58 EPS. On average, sell-side analysts expect that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Wednesday, May 21st. Marathon Petroleum’s dividend payout ratio (DPR) is presently 51.20%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wells Fargo & Company increased their price objective on shares of Marathon Petroleum from $175.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, May 13th. Piper Sandler decreased their price objective on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Barclays increased their price objective on shares of Marathon Petroleum from $141.00 to $159.00 and gave the company an “overweight” rating in a research note on Monday, May 12th. TD Cowen increased their target price on shares of Marathon Petroleum from $142.00 to $152.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Finally, Scotiabank reduced their target price on shares of Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating for the company in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $175.29.

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.