Blair William & Co. IL Sells 2,982 Shares of Marathon Petroleum Corporation (NYSE:MPC)

Key Points

• Blair William & Co. IL reduced its stake in Marathon Petroleum by 5.6%, owning 50,169 shares worth approximately $7.3 million after selling 2,982 shares in the 1st quarter.
• Several institutional investors have significantly increased their holdings in Marathon Petroleum, with Demars Financial Group LLC raising its stake by 16,338.3% in the last quarter.
• Marathon Petroleum reported an EPS of $3.96 for the latest quarter, exceeding analysts' expectations, but its revenue was down 11.1% compared to the previous year.

Blair William & Co. IL cut its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 5.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,169 shares of the oil and gas company's stock after selling 2,982 shares during the quarter. Blair William & Co. IL's holdings in Marathon Petroleum were worth $7,309,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in Marathon Petroleum by 30.9% during the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company's stock worth $696,000 after buying an additional 1,178 shares during the period. GHE LLC raised its position in shares of Marathon Petroleum by 1.8% during the fourth quarter. GHE LLC now owns 38,572 shares of the oil and gas company's stock worth $5,381,000 after purchasing an additional 665 shares during the period. Trexquant Investment LP bought a new position in shares of Marathon Petroleum in the 4th quarter worth $1,622,000. Cerity Partners LLC lifted its holdings in shares of Marathon Petroleum by 9.6% in the 4th quarter. Cerity Partners LLC now owns 193,920 shares of the oil and gas company's stock worth $27,550,000 after purchasing an additional 16,960 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Marathon Petroleum by 2.7% during the 4th quarter. Invesco Ltd. now owns 3,400,826 shares of the oil and gas company's stock valued at $474,415,000 after purchasing an additional 88,901 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MPC. Mizuho raised their price objective on shares of Marathon Petroleum from $168.00 to $184.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. UBS Group raised their price target on shares of Marathon Petroleum from $175.00 to $203.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. Wolfe Research lowered Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Piper Sandler raised their target price on Marathon Petroleum from $175.00 to $182.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Finally, Scotiabank reiterated an "outperform" rating on shares of Marathon Petroleum in a report on Friday, July 11th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $185.29.

Insider Activity at Marathon Petroleum

In related news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total value of $1,293,600.00. Following the completion of the sale, the director owned 18,944 shares of the company's stock, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is owned by corporate insiders.

Marathon Petroleum Stock Performance

Shares of MPC traded down $0.56 on Friday, reaching $160.95. 1,278,171 shares of the company's stock traded hands, compared to its average volume of 1,963,470. The company has a current ratio of 1.23, a quick ratio of 0.73 and a debt-to-equity ratio of 1.15. The stock has a market cap of $48.93 billion, a PE ratio of 23.88, a PEG ratio of 2.81 and a beta of 0.90. The stock's 50 day simple moving average is $169.24 and its two-hundred day simple moving average is $153.63. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $183.10.

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

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, August 20th. Marathon Petroleum's dividend payout ratio is currently 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.