Marathon Petroleum Corporation $MPC Shares Sold by MQS Management LLC

MQS Management LLC cut its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 37.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,802 shares of the oil and gas company’s stock after selling 2,839 shares during the period. Marathon Petroleum makes up 0.8% of MQS Management LLC’s investment portfolio, making the stock its 2nd biggest holding. MQS Management LLC’s holdings in Marathon Petroleum were worth $1,173,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Marathon Petroleum in the fourth quarter worth about $472,312,000. Capital Wealth Planning LLC increased its holdings in shares of Marathon Petroleum by 49,392.0% during the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock valued at $245,157,000 after acquiring an additional 1,495,097 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Marathon Petroleum by 3,816.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company’s stock valued at $212,517,000 after acquiring an additional 1,273,386 shares during the last quarter. Man Group plc raised its stake in shares of Marathon Petroleum by 2,175.0% in the 4th quarter. Man Group plc now owns 568,790 shares of the oil and gas company’s stock valued at $92,502,000 after acquiring an additional 543,788 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Marathon Petroleum by 104.8% in the 4th quarter. Victory Capital Management Inc. now owns 1,055,897 shares of the oil and gas company’s stock worth $171,721,000 after purchasing an additional 540,283 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the transaction, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Zacks Research cut Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 17th. Bank of America lifted their price target on shares of Marathon Petroleum from $224.00 to $260.00 in a research report on Tuesday, May 26th. 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. JPMorgan Chase & Co. upped their price objective on shares of Marathon Petroleum from $235.00 to $257.00 in a report on Wednesday, May 6th. Finally, Mizuho lifted their target price on shares of Marathon Petroleum from $224.00 to $284.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Ten investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average price target of $272.62.

Marathon Petroleum Trading Down 1.5%

Shares of MPC stock opened at $255.24 on Wednesday. The firm has a market capitalization of $74.51 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 0.40 and a beta of 0.52. Marathon Petroleum Corporation has a 1 year low of $158.00 and a 1 year high of $272.46. The firm’s fifty day simple moving average is $249.29 and its 200 day simple moving average is $217.48. 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 (NYSE:MPC) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share 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 the consensus estimate of $33.42 billion. During the same period in the prior year, the firm earned ($0.24) EPS. The business’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 31.35 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Wednesday, May 20th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 26.11%.

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.