Victory Capital Management Inc. Reduces Stake in Marathon Petroleum Corporation $MPC

Victory Capital Management Inc. lessened its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 40.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 515,614 shares of the oil and gas company’s stock after selling 354,686 shares during the period. Victory Capital Management Inc. owned 0.17% of Marathon Petroleum worth $99,379,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Delos Wealth Advisors LLC purchased a new position in Marathon Petroleum during the second quarter worth about $25,000. NewSquare Capital LLC increased its holdings in shares of Marathon Petroleum by 103.1% during the 2nd quarter. NewSquare Capital LLC now owns 199 shares of the oil and gas company’s stock worth $33,000 after buying an additional 101 shares during the last quarter. WFA of San Diego LLC purchased a new stake in shares of Marathon Petroleum during the 2nd quarter valued at approximately $33,000. Transce3nd LLC lifted its holdings in Marathon Petroleum by 10,250.0% in the second quarter. Transce3nd LLC now owns 207 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 205 shares during the last quarter. Finally, Stone House Investment Management LLC grew its position in Marathon Petroleum by 46.1% in the second quarter. Stone House Investment Management LLC now owns 225 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 71 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 4.3%

Shares of MPC stock opened at $221.20 on Thursday. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $222.05. The company has a 50 day moving average price of $185.01 and a 200 day moving average price of $185.60. The stock has a market capitalization of $65.20 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 1.37 and a beta of 0.69. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.26.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 EPS for the quarter, beating the consensus estimate of $3.73 by $0.34. The company had revenue of $32.57 billion during 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 13.90%. The firm’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the company posted $0.77 EPS. Equities research analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 18th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Wednesday, February 18th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 29.96%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Scotiabank restated an “outperform” rating and issued a $174.00 target price on shares of Marathon Petroleum in a research report on Friday, January 16th. Jefferies Financial Group cut their price objective on Marathon Petroleum from $216.00 to $205.00 and set a “buy” rating for the company in a research report on Monday, January 26th. JPMorgan Chase & Co. decreased their target price on shares of Marathon Petroleum from $211.00 to $179.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 13th. Wells Fargo & Company increased their target price 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. Finally, Mizuho lifted their price target on shares of Marathon Petroleum from $198.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, January 13th. Eleven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $202.19.

About Marathon Petroleum

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.