ProShare Advisors LLC Lowers Stock Position in Marathon Petroleum Corporation $MPC

ProShare Advisors LLC reduced its position in Marathon Petroleum Corporation (NYSE:MPC) by 6.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,255 shares of the oil and gas company’s stock after selling 3,987 shares during the quarter. ProShare Advisors LLC’s holdings in Marathon Petroleum were worth $11,999,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its stake in Marathon Petroleum by 30.9% in the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock worth $696,000 after purchasing an additional 1,178 shares during the period. Woodline Partners LP increased its position in shares of Marathon Petroleum by 38.3% during the first quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company’s stock valued at $3,889,000 after buying an additional 7,396 shares during the period. Sivia Capital Partners LLC raised its holdings in Marathon Petroleum by 26.6% in the second quarter. Sivia Capital Partners LLC now owns 2,221 shares of the oil and gas company’s stock worth $369,000 after purchasing an additional 466 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Marathon Petroleum by 4.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 81,818 shares of the oil and gas company’s stock worth $13,905,000 after purchasing an additional 3,237 shares in the last quarter. Finally, MGO One Seven LLC grew its position in Marathon Petroleum by 18.3% during the 2nd quarter. MGO One Seven LLC now owns 9,235 shares of the oil and gas company’s stock valued at $1,534,000 after purchasing an additional 1,427 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

MPC has been the subject of several research reports. Raymond James Financial boosted their price objective on shares of Marathon Petroleum from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. BMO Capital Markets raised their target price on shares of Marathon Petroleum from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday. Mizuho upped their price target on Marathon Petroleum from $198.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 13th. Piper Sandler reduced their price objective on Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Finally, Wells Fargo & Company lifted their price objective on shares of Marathon Petroleum from $213.00 to $217.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. Ten investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average target price of $202.19.

Marathon Petroleum Price Performance

MPC opened at $208.54 on Thursday. The firm has a market capitalization of $62.69 billion, a PE ratio of 15.62, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79. The business’s 50-day moving average is $178.42 and its two-hundred day moving average is $181.82. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $209.40.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share for the quarter, beating analysts’ consensus estimates of $3.73 by $0.34. The business had revenue of $35.10 billion for the quarter, compared to analysts’ expectations of $30.89 billion. Marathon Petroleum had a net margin of 2.99% and a return on equity of 14.00%. The company’s revenue was down .1% compared to the same quarter last year. During the same period last year, the business earned $0.77 EPS. Research analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 18th will be paid a $1.00 dividend. The ex-dividend date is Wednesday, February 18th. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. Marathon Petroleum’s dividend payout ratio (DPR) is 29.96%.

Marathon Petroleum Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.