Chevy Chase Trust Holdings LLC Reduces Stock Holdings in Marathon Petroleum Corporation (NYSE:MPC)

Chevy Chase Trust Holdings LLC lessened its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 169,799 shares of the oil and gas company's stock after selling 2,960 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Marathon Petroleum worth $24,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of Marathon Petroleum by 78.1% during the 4th quarter. Wellington Management Group LLP now owns 9,961,503 shares of the oil and gas company's stock valued at $1,389,630,000 after buying an additional 4,367,774 shares during the last quarter. Bank of New York Mellon Corp raised its position in Marathon Petroleum by 7.0% during the fourth quarter. Bank of New York Mellon Corp now owns 4,803,951 shares of the oil and gas company's stock valued at $670,151,000 after acquiring an additional 315,786 shares in the last quarter. Demars Financial Group LLC lifted its holdings in Marathon Petroleum by 12.8% in the first quarter. Demars Financial Group LLC now owns 4,713,595 shares of the oil and gas company's stock valued at $686,724,000 after acquiring an additional 536,462 shares during the period. Dimensional Fund Advisors LP boosted its position in Marathon Petroleum by 11.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,399,977 shares of the oil and gas company's stock worth $613,624,000 after purchasing an additional 452,043 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Marathon Petroleum by 14.0% during the 4th quarter. Northern Trust Corp now owns 3,937,348 shares of the oil and gas company's stock worth $549,260,000 after purchasing an additional 484,438 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Mizuho boosted their target price 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. TD Cowen increased their target price on shares of Marathon Petroleum from $152.00 to $163.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Scotiabank dropped their target price on Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. Barclays upped their price target on Marathon Petroleum from $141.00 to $159.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Finally, Wells Fargo & Company raised their price objective on Marathon Petroleum from $180.00 to $182.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $175.80.

Marathon Petroleum Price Performance

MPC stock traded up $0.58 during midday trading on Wednesday, reaching $165.87. The stock had a trading volume of 2,006,853 shares, compared to its average volume of 2,690,083. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $183.31. The company has a current ratio of 1.19, a quick ratio of 0.73 and a debt-to-equity ratio of 1.16. The company's fifty day simple moving average is $153.47 and its 200 day simple moving average is $147.05. The company has a market cap of $50.96 billion, a price-to-earnings ratio of 23.33, a price-to-earnings-growth ratio of 3.29 and a beta of 0.89.

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) earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.16. The firm had revenue of $31.85 billion for the quarter, compared to analyst estimates of $28.91 billion. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. Marathon Petroleum's quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.58 earnings per share. As a group, sell-side analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were issued a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $3.64 annualized dividend and a dividend yield of 2.19%. Marathon Petroleum's dividend payout ratio is presently 51.20%.

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.