Sit Investment Associates Inc. Sells 24,740 Shares of Marathon Petroleum Corp (MPC)

Sit Investment Associates Inc. cut its holdings in Marathon Petroleum Corp (NYSE:MPC) by 6.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 374,235 shares of the oil and gas company’s stock after selling 24,740 shares during the period. Sit Investment Associates Inc.’s holdings in Marathon Petroleum were worth $24,692,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in Marathon Petroleum by 4.1% in the second quarter. Vanguard Group Inc. now owns 39,255,717 shares of the oil and gas company’s stock valued at $2,054,251,000 after purchasing an additional 1,544,114 shares during the period. Dimensional Fund Advisors LP increased its stake in Marathon Petroleum by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 6,103,034 shares of the oil and gas company’s stock valued at $342,221,000 after purchasing an additional 35,033 shares during the period. Prudential Financial Inc. increased its stake in Marathon Petroleum by 61.6% in the third quarter. Prudential Financial Inc. now owns 3,987,706 shares of the oil and gas company’s stock valued at $223,630,000 after purchasing an additional 1,520,471 shares during the period. Ameriprise Financial Inc. increased its stake in Marathon Petroleum by 14.9% in the second quarter. Ameriprise Financial Inc. now owns 3,726,855 shares of the oil and gas company’s stock valued at $195,038,000 after purchasing an additional 482,824 shares during the period. Finally, APG Asset Management N.V. increased its stake in Marathon Petroleum by 14.0% in the third quarter. APG Asset Management N.V. now owns 2,961,791 shares of the oil and gas company’s stock valued at $166,097,000 after purchasing an additional 362,600 shares during the period. Institutional investors own 80.61% of the company’s stock.

A number of research firms have commented on MPC. Scotiabank restated a “hold” rating and issued a $75.00 price objective on shares of Marathon Petroleum in a research note on Wednesday. UBS Group lowered shares of Marathon Petroleum from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $63.00 to $65.00 in a research note on Wednesday, November 15th. Cowen reiterated a “buy” rating and set a $60.00 price target on shares of Marathon Petroleum in a research note on Tuesday, October 17th. Goldman Sachs Group lowered shares of Marathon Petroleum from a “buy” rating to a “neutral” rating and set a $63.00 price target on the stock. in a research note on Tuesday, October 3rd. They noted that the move was a valuation call. Finally, Citigroup boosted their price target on shares of Marathon Petroleum from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $69.50.

In related news, insider Anthony R. Kenney sold 77,578 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $62.35, for a total transaction of $4,836,988.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Rodney P. Nichols sold 6,374 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $64.93, for a total transaction of $413,863.82. Following the sale, the vice president now directly owns 74,674 shares in the company, valued at approximately $4,848,582.82. The disclosure for this sale can be found here. In the last three months, insiders have sold 149,854 shares of company stock worth $9,482,177. 1.05% of the stock is owned by insiders.

Shares of Marathon Petroleum Corp (MPC) traded down $0.39 during trading on Wednesday, hitting $69.00. 2,980,200 shares of the stock were exchanged, compared to its average volume of 3,460,250. Marathon Petroleum Corp has a twelve month low of $46.88 and a twelve month high of $69.68. The company has a current ratio of 1.52, a quick ratio of 0.80 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $33,820.00, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 1.25 and a beta of 1.62.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.29. The business had revenue of $19.36 billion for the quarter, compared to analyst estimates of $19.38 billion. Marathon Petroleum had a net margin of 2.35% and a return on equity of 8.52%. The business’s revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.58 earnings per share. equities analysts forecast that Marathon Petroleum Corp will post 3.85 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Thursday, November 16th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Wednesday, November 15th. Marathon Petroleum’s dividend payout ratio is currently 50.00%.

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About Marathon Petroleum

Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.

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

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