North Point Portfolio Managers Corp OH Sells 12,071 Shares of Marathon Petroleum Corporation $MPC

North Point Portfolio Managers Corp OH decreased its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 16.0% in the first quarter, Holdings Channel reports. The fund owned 63,596 shares of the oil and gas company’s stock after selling 12,071 shares during the period. Marathon Petroleum accounts for 2.8% of North Point Portfolio Managers Corp OH’s investment portfolio, making the stock its 13th biggest holding. North Point Portfolio Managers Corp OH’s holdings in Marathon Petroleum were worth $15,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Navalign LLC acquired a new position in shares of Marathon Petroleum during the 4th quarter worth about $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in Marathon Petroleum during the 4th quarter valued at approximately $31,000. Berbice Capital Management LLC grew its holdings in Marathon Petroleum by 100.0% in the 4th quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 100 shares during the last quarter. WFA of San Diego LLC acquired a new stake in Marathon Petroleum in the 2nd quarter valued at approximately $33,000. Finally, Ares Financial Consulting LLC bought a new position in Marathon Petroleum in the 4th quarter worth approximately $34,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the sale, the vice president directly owned 16,900 shares in the company, valued at approximately $4,543,058. The trade was a 27.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

MPC has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Morgan Stanley boosted their target price on shares of Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Wall Street Zen upgraded shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. UBS Group set a $285.00 price target on shares of Marathon Petroleum in a report on Wednesday, May 6th. Finally, Piper Sandler boosted their price objective on shares of Marathon Petroleum from $197.00 to $228.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Ten analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and an average target price of $272.62.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $255.24 on Wednesday. The firm has a market capitalization of $74.51 billion, a PE ratio of 16.66, a PEG ratio of 0.40 and a beta of 0.52. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 1-year low of $158.00 and a 1-year high of $272.46. The business’s 50 day moving average is $249.29 and its 200-day moving average is $217.48.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The business had revenue of $34.20 billion during the quarter, compared to analyst estimates of $33.42 billion. During the same period in the prior year, the company posted ($0.24) earnings per share. Marathon Petroleum’s revenue was up 8.5% on a year-over-year basis. Sell-side analysts predict that Marathon Petroleum Corporation will post 31.35 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Wednesday, May 20th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 26.11%.

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.