Cwm LLC Lowers Stake in Marathon Petroleum Corporation $MPC

Key Points

• Cwm LLC reduced its stake in Marathon Petroleum Corporation by 21.9%, holding 20,014 shares valued at approximately $3.3 million after selling 5,603 shares.
• The company reported a quarterly EPS of $3.96, exceeding analysts' expectations of $3.22, and had a total revenue of $34.10 billion for the quarter.
• Marathon Petroleum announced a quarterly dividend of $0.91 per share, resulting in an annualized yield of 2.0% with a payout ratio of 54.01%.

Cwm LLC reduced its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 21.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,014 shares of the oil and gas company's stock after selling 5,603 shares during the period. Cwm LLC's holdings in Marathon Petroleum were worth $3,325,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. CBIZ Investment Advisory Services LLC lifted its position in Marathon Petroleum by 1,546.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company's stock valued at $31,000 after acquiring an additional 201 shares during the period. Hughes Financial Services LLC purchased a new position in Marathon Petroleum during the 1st quarter valued at about $32,000. WPG Advisers LLC purchased a new position in Marathon Petroleum during the 1st quarter valued at about $32,000. Decker Retirement Planning Inc. increased its stake in Marathon Petroleum by 1,621.4% during the 1st 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 in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in Marathon Petroleum during the 1st quarter valued at about $35,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $184.14 on Friday. The company has a 50 day moving average price of $180.61 and a 200-day moving average price of $164.76. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $201.61. The firm has a market capitalization of $55.98 billion, a PE ratio of 27.32, a P/E/G ratio of 2.83 and a beta of 0.90. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15.

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

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.0%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum's payout ratio is 54.01%.

Analysts Set New Price Targets

MPC has been the subject of a number of analyst reports. Mizuho raised their price objective on shares of Marathon Petroleum from $184.00 to $188.00 and gave the company a "neutral" rating in a research note on Monday, September 15th. Raymond James Financial restated an "outperform" rating and set a $203.00 price objective (up from $199.00) on shares of Marathon Petroleum in a research note on Friday. Piper Sandler raised their price objective on shares of Marathon Petroleum from $184.00 to $222.00 and gave the company a "neutral" rating in a research note on Thursday, September 11th. Evercore ISI raised their price objective on shares of Marathon Petroleum from $170.00 to $210.00 and gave the company an "in-line" rating in a research note on Friday, September 19th. Finally, Bank of America raised their price objective on shares of Marathon Petroleum from $184.00 to $192.00 and gave the company a "neutral" rating in a research note on Wednesday, September 3rd. Eight research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $200.31.

Insider Transactions at Marathon Petroleum

In related news, insider Molly R. Benson sold 10,879 shares of the business's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the sale, the insider directly owned 28,700 shares in the company, valued at approximately $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.21% of the company's stock.

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.

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