Burney Co. Trims Holdings in Marathon Petroleum Corporation (NYSE:MPC)

Burney Co. trimmed its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 5.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,702 shares of the oil and gas company's stock after selling 1,791 shares during the quarter. Burney Co.'s holdings in Marathon Petroleum were worth $4,182,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP grew its stake in Marathon Petroleum by 78.1% in the fourth quarter. Wellington Management Group LLP now owns 9,961,503 shares of the oil and gas company's stock worth $1,389,630,000 after purchasing an additional 4,367,774 shares in the last quarter. Demars Financial Group LLC boosted its position in shares of Marathon Petroleum by 16,338.3% during the 4th quarter. Demars Financial Group LLC now owns 4,177,133 shares of the oil and gas company's stock valued at $582,710,000 after purchasing an additional 4,151,722 shares in the last quarter. Norges Bank bought a new position in shares of Marathon Petroleum in the fourth quarter valued at $453,427,000. GAMMA Investing LLC increased its holdings in shares of Marathon Petroleum by 14,969.1% in the first quarter. GAMMA Investing LLC now owns 1,540,963 shares of the oil and gas company's stock valued at $224,503,000 after buying an additional 1,530,737 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new stake in Marathon Petroleum during the 4th quarter valued at $81,318,000. 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 business's 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 completion of the transaction, the director owned 18,944 shares of the company's stock, valued at $3,315,200. The trade was a 28.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.21% of the company's stock.

Marathon Petroleum Price Performance

NYSE:MPC traded up $0.33 on Friday, hitting $171.64. The company had a trading volume of 1,287,701 shares, compared to its average volume of 2,754,099. The company has a current ratio of 1.19, a quick ratio of 0.73 and a debt-to-equity ratio of 1.16. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $183.31. The firm has a 50 day moving average of $167.50 and a two-hundred day moving average of $152.15. The stock has a market capitalization of $52.73 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 3.31 and a beta of 0.88.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, topping analysts' consensus estimates of ($0.40) by $0.16. The business had revenue of $31.85 billion during the quarter, compared to analysts' expectations of $28.91 billion. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The business's quarterly revenue was down 4.1% on a year-over-year basis. During the same period last year, the company posted $2.58 earnings per share. On average, research analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $3.64 annualized dividend and a yield of 2.12%. Marathon Petroleum's dividend payout ratio is currently 51.20%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MPC shares. Wall Street Zen raised shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Citigroup upped their price target on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. UBS Group upped their price target 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. Evercore ISI started coverage on shares of Marathon Petroleum in a research note on Wednesday, June 18th. They issued an "in-line" rating and a $170.00 price target on the stock. Finally, Wells Fargo & Company upped their price target on shares of Marathon Petroleum from $182.00 to $205.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $183.93.

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.