Westwood Holdings Group Inc. Sells 6,295 Shares of Marathon Petroleum Corporation (MPC)

Westwood Holdings Group Inc. reduced its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 9.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 58,355 shares of the oil and gas company’s stock after selling 6,295 shares during the period. Westwood Holdings Group Inc.’s holdings in Marathon Petroleum Corporation were worth $2,949,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MPC. Guardian Life Insurance Co. of America boosted its position in Marathon Petroleum Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,036 shares of the oil and gas company’s stock worth $103,000 after buying an additional 14 shares during the last quarter. FTB Advisors Inc. boosted its position in shares of Marathon Petroleum Corporation by 484.9% in the first quarter. FTB Advisors Inc. now owns 2,047 shares of the oil and gas company’s stock valued at $104,000 after buying an additional 1,697 shares during the last quarter. Carroll Financial Associates Inc. boosted its position in shares of Marathon Petroleum Corporation by 12.3% in the first quarter. Carroll Financial Associates Inc. now owns 2,287 shares of the oil and gas company’s stock valued at $115,000 after buying an additional 250 shares during the last quarter. Tarbox Group Inc. boosted its position in shares of Marathon Petroleum Corporation by 1.5% in the first quarter. Tarbox Group Inc. now owns 2,423 shares of the oil and gas company’s stock valued at $122,000 after buying an additional 36 shares during the last quarter. Finally, Pinnacle Bank bought a new position in shares of Marathon Petroleum Corporation during the first quarter valued at approximately $124,000. 81.58% of the stock is owned by institutional investors.

Shares of Marathon Petroleum Corporation (NYSE MPC) traded down 0.84% during midday trading on Tuesday, hitting $54.44. 2,312,629 shares of the company’s stock were exchanged. The firm has a market cap of $27.55 billion, a price-to-earnings ratio of 31.34 and a beta of 1.56. Marathon Petroleum Corporation has a 52 week low of $39.29 and a 52 week high of $56.81. The company has a 50-day moving average of $54.06 and a 200-day moving average of $51.47.

Marathon Petroleum Corporation (NYSE:MPC) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by $0.01. Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. The company had revenue of $18.35 billion for the quarter, compared to the consensus estimate of $19.98 billion. During the same quarter in the prior year, the company earned $1.07 earnings per share. The company’s quarterly revenue was up 9.3% on a year-over-year basis. Equities research analysts expect that Marathon Petroleum Corporation will post $2.73 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th will be given a dividend of $0.40 per share. The ex-dividend date is Monday, August 14th. This is a boost from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a dividend yield of 2.94%. Marathon Petroleum Corporation’s dividend payout ratio is currently 81.82%.

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Several brokerages have recently commented on MPC. BidaskClub raised shares of Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st. Zacks Investment Research raised shares of Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a research report on Monday. Cowen and Company increased their price target on shares of Marathon Petroleum Corporation from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Jefferies Group LLC reissued a “buy” rating and issued a $54.83 target price (down previously from $65.00) on shares of Marathon Petroleum Corporation in a report on Thursday, July 20th. Finally, Scotiabank set a $55.00 target price on shares of Marathon Petroleum Corporation and gave the stock a “hold” rating in a report on Tuesday, July 11th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Marathon Petroleum Corporation presently has a consensus rating of “Buy” and an average target price of $58.62.

In related news, VP C. Michael Palmer sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $53.25, for a total value of $213,000.00. Following the transaction, the vice president now directly owns 61,757 shares in the company, valued at $3,288,560.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Thomas M. Kelley sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $54.33, for a total transaction of $1,358,250.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,568 shares of company stock worth $1,808,969. Company insiders own 1.05% of the company’s stock.

About Marathon Petroleum Corporation

Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.

Institutional Ownership by Quarter for Marathon Petroleum Corporation (NYSE:MPC)

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