Marathon Petroleum Corporation $MPC Shares Sold by Convergence Investment Partners LLC

Convergence Investment Partners LLC decreased its position in Marathon Petroleum Corporation (NYSE:MPC) by 35.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,418 shares of the oil and gas company’s stock after selling 8,453 shares during the quarter. Convergence Investment Partners LLC’s holdings in Marathon Petroleum were worth $3,765,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MPC. State Street Corp lifted its stake in Marathon Petroleum by 0.3% during the fourth quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company’s stock worth $2,916,660,000 after purchasing an additional 47,896 shares during the last quarter. Boston Partners raised its holdings in shares of Marathon Petroleum by 2.3% during the third quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock worth $1,214,522,000 after purchasing an additional 141,691 shares during the period. Norges Bank acquired a new stake in shares of Marathon Petroleum during the fourth quarter worth $472,312,000. Charles Schwab Investment Management Inc. lifted its position in shares of Marathon Petroleum by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,818,361 shares of the oil and gas company’s stock worth $458,350,000 after buying an additional 11,693 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Marathon Petroleum by 2.7% in the 4th quarter. Invesco Ltd. now owns 2,600,191 shares of the oil and gas company’s stock worth $422,869,000 after buying an additional 67,600 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MPC shares. Zacks Research downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 17th. Bank of America raised their target price on shares of Marathon Petroleum from $224.00 to $260.00 in a report on Tuesday, May 26th. Morgan Stanley lifted their target price on Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. The Goldman Sachs Group increased their price target on Marathon Petroleum from $264.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings raised Marathon Petroleum from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, July 6th. Ten investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $283.56.

Marathon Petroleum Stock Up 1.2%

MPC stock opened at $316.29 on Tuesday. The stock has a market cap of $92.34 billion, a PE ratio of 20.65, a price-to-earnings-growth ratio of 0.42 and a beta of 0.52. The firm’s 50-day simple moving average is $263.62 and its 200 day simple moving average is $228.86. Marathon Petroleum Corporation has a fifty-two week low of $158.00 and a fifty-two week high of $319.36. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The firm had revenue of $34.20 billion during the quarter, compared to analyst estimates of $33.42 billion. During the same period in the previous year, the business posted ($0.24) EPS. Marathon Petroleum’s revenue was up 8.5% on a year-over-year basis. As a group, sell-side analysts predict that Marathon Petroleum Corporation will post 35.82 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were given a dividend of $1.00 per share. The ex-dividend date was Wednesday, May 20th. This represents a $4.00 annualized dividend and a dividend yield of 1.3%. Marathon Petroleum’s payout ratio is currently 26.11%.

Insider Transactions at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the sale, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. This trade represents a 27.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is owned by company insiders.

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.