Alliancebernstein L.P. Trims Stock Position in Marathon Petroleum Corporation $MPC

Alliancebernstein L.P. decreased its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 414,603 shares of the oil and gas company's stock after selling 19,644 shares during the quarter. Alliancebernstein L.P. owned approximately 0.13% of Marathon Petroleum worth $60,404,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fourth Dimension Wealth LLC purchased a new position in shares of Marathon Petroleum in the fourth quarter worth about $26,000. CBIZ Investment Advisory Services LLC lifted its stake in shares of Marathon Petroleum by 1,546.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company's stock worth $31,000 after buying an additional 201 shares in the last quarter. Hughes Financial Services LLC purchased a new position in shares of Marathon Petroleum in the first quarter worth about $32,000. WPG Advisers LLC purchased a new position in shares of Marathon Petroleum in the first quarter worth about $32,000. Finally, Decker Retirement Planning Inc. lifted its stake in shares of Marathon Petroleum by 1,621.4% in the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock worth $35,000 after buying an additional 227 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total value of $1,293,600.00. Following the sale, the director directly owned 18,944 shares of the company's stock, valued at approximately $3,315,200. This represents a 28.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Molly R. Benson sold 10,879 shares of the firm's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the sale, the insider owned 28,700 shares in the company, valued at $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

MPC has been the topic of several research reports. Piper Sandler raised their price target on shares of Marathon Petroleum from $175.00 to $182.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Raymond James Financial lifted their target price on shares of Marathon Petroleum from $195.00 to $199.00 and gave the stock an "outperform" rating in a research note on Tuesday. UBS Group lifted their target price on shares of Marathon Petroleum from $175.00 to $203.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Bank of America lifted their target price on shares of Marathon Petroleum from $184.00 to $192.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 3rd. Finally, Dbs Bank raised shares of Marathon Petroleum to a "moderate buy" rating in a research note on Monday, July 28th. Eight equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $186.50.

Marathon Petroleum Stock Up 1.0%

Shares of MPC stock traded up $1.90 during trading on Tuesday, reaching $183.09. The company's stock had a trading volume of 2,307,698 shares, compared to its average volume of 1,751,463. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. The company has a market capitalization of $55.66 billion, a price-to-earnings ratio of 27.16, a P/E/G ratio of 3.66 and a beta of 0.97. The stock's 50-day moving average price is $172.30 and its 200 day moving average price is $156.55. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $186.28.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, beating analysts' consensus estimates of $3.22 by $0.74. The firm had revenue of $34.10 billion during the quarter, compared to analysts' expectations of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The business's quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.12 earnings per share. On average, research analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th will be issued a $0.91 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.0%. Marathon Petroleum's payout ratio is 54.01%.

About Marathon Petroleum

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.