Concurrent Investment Advisors LLC Sells 2,192 Shares of Marathon Petroleum Corporation (NYSE:MPC)

Concurrent Investment Advisors LLC trimmed its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 12.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,054 shares of the oil and gas company's stock after selling 2,192 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Marathon Petroleum were worth $2,339,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Buckley Wealth Management LLC lifted its holdings in shares of Marathon Petroleum by 0.5% during the 4th quarter. Buckley Wealth Management LLC now owns 14,325 shares of the oil and gas company's stock valued at $1,998,000 after buying an additional 75 shares during the last quarter. Beverly Hills Private Wealth LLC increased its position in Marathon Petroleum by 1.2% in the 4th quarter. Beverly Hills Private Wealth LLC now owns 6,655 shares of the oil and gas company's stock worth $928,000 after buying an additional 76 shares during the period. Intact Investment Management Inc. raised its stake in Marathon Petroleum by 19.0% during the 4th quarter. Intact Investment Management Inc. now owns 500 shares of the oil and gas company's stock valued at $70,000 after purchasing an additional 80 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its position in Marathon Petroleum by 2.0% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 4,291 shares of the oil and gas company's stock worth $599,000 after buying an additional 84 shares in the last quarter. Finally, Valmark Advisers Inc. raised its stake in shares of Marathon Petroleum by 2.3% in the first quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company's stock valued at $554,000 after purchasing an additional 86 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Kim K.W. Rucker sold 7,392 shares of the business's 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 transaction, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.21% of the stock is owned by company insiders.

Marathon Petroleum Stock Performance

Marathon Petroleum stock traded up $3.43 during trading hours on Tuesday, hitting $179.88. The company had a trading volume of 2,426,230 shares, compared to its average volume of 2,711,023. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 0.73. The firm has a market cap of $55.26 billion, a PE ratio of 25.30, a PEG ratio of 3.46 and a beta of 0.88. The firm has a 50-day moving average of $160.42 and a 200 day moving average of $148.83. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $183.31.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.16. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The firm had revenue of $31.85 billion for the quarter, compared to analyst estimates of $28.91 billion. During the same period last year, the firm earned $2.58 EPS. The business's quarterly revenue was down 4.1% compared to the same quarter last year. On average, sell-side analysts expect 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. Stockholders of record on Wednesday, May 21st were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Wednesday, May 21st. Marathon Petroleum's dividend payout ratio is currently 51.20%.

Wall Street Analysts Forecast Growth

MPC has been the topic of a number of recent research reports. Scotiabank decreased their price objective on Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating on the stock in a report on Friday, April 11th. Wall Street Zen raised Marathon Petroleum from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Wells Fargo & Company upped their target price on shares of Marathon Petroleum from $180.00 to $182.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. Mizuho boosted their price objective on shares of Marathon Petroleum from $168.00 to $184.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Finally, Morgan Stanley decreased their price objective on Marathon Petroleum from $175.00 to $160.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $176.13.

Marathon Petroleum 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.