Cerity Partners LLC Sells 8,145 Shares of Marathon Petroleum Corporation (NYSE:MPC)

Cerity Partners LLC decreased its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 185,775 shares of the oil and gas company's stock after selling 8,145 shares during the quarter. Cerity Partners LLC owned 0.06% of Marathon Petroleum worth $27,066,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of MPC. Fourth Dimension Wealth LLC acquired a new stake in shares of Marathon Petroleum in the fourth quarter valued at $26,000. Decker Retirement Planning Inc. lifted its holdings in shares of Marathon Petroleum by 1,621.4% during the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock valued at $35,000 after purchasing an additional 227 shares during the last quarter. Barnes Dennig Private Wealth Management LLC acquired a new position in Marathon Petroleum during the first quarter valued at $35,000. Capital A Wealth Management LLC acquired a new position in Marathon Petroleum during the fourth quarter valued at $52,000. Finally, Millstone Evans Group LLC acquired a new position in Marathon Petroleum during the fourth quarter valued at $55,000. Institutional investors own 76.77% of the company's stock.

Insiders Place Their Bets

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the sale, the director owned 18,944 shares in the company, valued at $3,315,200. The trade was a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is owned by corporate insiders.

Marathon Petroleum Stock Performance

MPC traded down $2.45 during midday trading on Friday, reaching $179.81. The company's stock had a trading volume of 4,388,192 shares, compared to its average volume of 2,719,877. The stock has a market cap of $55.24 billion, a P/E ratio of 25.29, a PEG ratio of 3.53 and a beta of 0.88. The company has a fifty day simple moving average of $163.74 and a 200 day simple moving average of $150.00. 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 twelve month low of $115.10 and a twelve month high of $183.31.

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

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st were paid a dividend of $0.91 per share. The ex-dividend date was Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a yield of 2.02%. Marathon Petroleum's dividend payout ratio is currently 51.20%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. TD Cowen raised their price target on Marathon Petroleum from $152.00 to $163.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Barclays increased their price objective on Marathon Petroleum from $159.00 to $189.00 and gave the company an "overweight" rating in a report on Friday. Piper Sandler increased their price objective on Marathon Petroleum from $157.00 to $175.00 and gave the company a "neutral" rating in a report on Thursday. Scotiabank increased their price objective on Marathon Petroleum from $147.00 to $180.00 and gave the company a "sector outperform" rating in a report on Friday. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Marathon Petroleum in a report on Monday, June 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $184.38.

Marathon Petroleum Company Profile

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.