International Assets Investment Management LLC Sells 994 Shares of Marathon Petroleum Corporation $MPC

International Assets Investment Management LLC reduced its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 16.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,155 shares of the oil and gas company’s stock after selling 994 shares during the period. International Assets Investment Management LLC’s holdings in Marathon Petroleum were worth $856,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Marathon Petroleum by 12.3% in the first quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock worth $5,090,611,000 after acquiring an additional 3,834,501 shares during the last quarter. Boston Partners raised its stake in shares of Marathon Petroleum by 58.5% in the first quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock worth $791,274,000 after acquiring an additional 2,011,810 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Marathon Petroleum by 18.7% in the first quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock worth $1,722,664,000 after acquiring an additional 1,862,674 shares during the last quarter. Nuveen LLC bought a new position in shares of Marathon Petroleum in the first quarter worth about $147,122,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Marathon Petroleum by 26.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,675,362 shares of the oil and gas company’s stock worth $535,465,000 after acquiring an additional 769,015 shares during the last quarter. 76.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on MPC. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marathon Petroleum in a research note on Wednesday, October 8th. Morgan Stanley boosted their target price on shares of Marathon Petroleum from $182.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, October 3rd. Piper Sandler lifted their price target on shares of Marathon Petroleum from $184.00 to $222.00 and gave the stock a “neutral” rating in a research report on Thursday, September 11th. Wells Fargo & Company assumed coverage on shares of Marathon Petroleum in a research report on Friday. They set an “overweight” rating and a $214.00 price target for the company. Finally, Barclays lifted their price target on shares of Marathon Petroleum from $176.00 to $194.00 and gave the stock an “overweight” rating in a research report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Marathon Petroleum has an average rating of “Moderate Buy” and a consensus price target of $200.31.

Insider Buying and Selling at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the transaction, the insider owned 28,700 shares in the company, valued at $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is owned by company insiders.

Marathon Petroleum Stock Up 1.0%

Shares of NYSE MPC opened at $186.39 on Tuesday. The stock has a market cap of $56.67 billion, a P/E ratio of 27.65, a P/E/G ratio of 2.87 and a beta of 0.90. The firm has a 50 day moving average price of $181.17 and a 200 day moving average price of $165.59. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $201.61.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.74. The firm had revenue of $34.10 billion during the quarter, compared to analysts’ expectations of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The business’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.12 earnings per share. Analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio is 54.01%.

Marathon Petroleum Profile

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.