Cambridge Financial Group Inc. Lowers Position in Marathon Petroleum Co. (NYSE:MPC)

Cambridge Financial Group Inc. decreased its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 6.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 40,087 shares of the oil and gas company’s stock after selling 2,858 shares during the period. Marathon Petroleum makes up about 3.0% of Cambridge Financial Group Inc.’s portfolio, making the stock its 23rd largest position. Cambridge Financial Group Inc.’s holdings in Marathon Petroleum were worth $5,947,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Marino Stram & Associates LLC increased its stake in Marathon Petroleum by 0.5% in the 4th quarter. Marino Stram & Associates LLC now owns 11,424 shares of the oil and gas company’s stock valued at $1,695,000 after buying an additional 60 shares during the last quarter. SteelPeak Wealth LLC lifted its holdings in Marathon Petroleum by 0.3% during the fourth quarter. SteelPeak Wealth LLC now owns 20,408 shares of the oil and gas company’s stock worth $3,028,000 after acquiring an additional 67 shares during the period. Aaron Wealth Advisors LLC boosted its position in Marathon Petroleum by 4.5% in the fourth quarter. Aaron Wealth Advisors LLC now owns 1,559 shares of the oil and gas company’s stock worth $231,000 after purchasing an additional 67 shares during the last quarter. Mission Wealth Management LP grew its stake in Marathon Petroleum by 0.8% in the 4th quarter. Mission Wealth Management LP now owns 8,756 shares of the oil and gas company’s stock valued at $1,299,000 after purchasing an additional 67 shares during the period. Finally, Empower Advisory Group LLC increased its position in shares of Marathon Petroleum by 1.6% during the 3rd quarter. Empower Advisory Group LLC now owns 4,465 shares of the oil and gas company’s stock valued at $676,000 after purchasing an additional 72 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Marathon Petroleum stock traded down $0.40 during midday trading on Friday, reaching $182.55. 1,868,555 shares of the stock were exchanged, compared to its average volume of 2,394,157. The company’s fifty day moving average is $194.18 and its 200-day moving average is $168.30. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.13 and a current ratio of 1.43. Marathon Petroleum Co. has a 52 week low of $104.32 and a 52 week high of $221.11. The firm has a market cap of $64.32 billion, a PE ratio of 9.12, a PEG ratio of 1.52 and a beta of 1.55.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.25. The company had revenue of $32.71 billion for the quarter, compared to the consensus estimate of $32.07 billion. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The firm’s revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $6.09 earnings per share. On average, sell-side analysts forecast that Marathon Petroleum Co. will post 19.96 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be issued a $0.825 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.81%. Marathon Petroleum’s payout ratio is 16.48%.

Marathon Petroleum declared that its board has initiated a share repurchase plan on Tuesday, April 30th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to buy up to 7.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Piper Sandler increased their price target on shares of Marathon Petroleum from $159.00 to $204.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Mizuho decreased their price target on shares of Marathon Petroleum from $202.00 to $200.00 and set a “neutral” rating for the company in a research note on Thursday. StockNews.com upgraded Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Scotiabank raised their target price on Marathon Petroleum from $175.00 to $207.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Finally, Wells Fargo & Company increased their price target on Marathon Petroleum from $214.00 to $227.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $193.62.

Insider Buying and Selling at Marathon Petroleum

In related news, Director Kim K.W. Rucker sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $170.35, for a total transaction of $170,350.00. Following the transaction, the director now directly owns 23,446 shares in the company, valued at approximately $3,994,026.10. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.21% of the company’s stock.

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.