Redwood Investment Management LLC Sells 3,464 Shares of Marathon Petroleum Corporation $MPC

Redwood Investment Management LLC cut its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 44.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,351 shares of the oil and gas company’s stock after selling 3,464 shares during the period. Redwood Investment Management LLC’s holdings in Marathon Petroleum were worth $1,062,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. State Street Corp grew its position in Marathon Petroleum by 0.3% in the fourth quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company’s stock valued at $2,916,660,000 after purchasing an additional 47,896 shares in the last quarter. Boston Partners lifted its position in Marathon Petroleum by 2.3% during the 3rd quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock worth $1,214,522,000 after buying an additional 141,691 shares in the last quarter. Norges Bank bought a new stake in Marathon Petroleum during the 4th quarter worth about $472,312,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Marathon Petroleum by 0.4% during 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. grew its holdings 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 valued at $422,869,000 after acquiring an additional 67,600 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Insider Buying and Selling at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction that occurred on 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 completion of the sale, the vice president directly owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.17% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $316.25 on Monday. The company has a market capitalization of $92.33 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 0.20 and a beta of 0.52. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18. The company has a 50-day simple moving average of $274.13 and a 200 day simple moving average of $237.86. Marathon Petroleum Corporation has a 52 week low of $158.00 and a 52 week high of $326.92.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.91. The firm had revenue of $34.20 billion for the quarter, compared to analysts’ expectations of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The business’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.24) EPS. On average, sell-side analysts predict that Marathon Petroleum Corporation will post 43.19 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $4.00 annualized dividend and a dividend yield of 1.3%. Marathon Petroleum’s dividend payout ratio is presently 26.11%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wall Street Zen raised Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. Citigroup upped their price objective on Marathon Petroleum from $257.00 to $303.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Scotiabank raised their target price on shares of Marathon Petroleum from $174.00 to $210.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. 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 report on Friday, June 12th. Finally, Mizuho upped their price target on shares of Marathon Petroleum from $224.00 to $284.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. Eleven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average price target of $298.69.

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.