Dimensional Fund Advisors LP Sells 214,947 Shares of Marathon Petroleum Corporation $MPC

Key Points

• Dimensional Fund Advisors LP reduced its stake in Marathon Petroleum by 4.9%, bringing its ownership to 4,185,030 shares valued at approximately $609.61 million.
• Multiple hedge funds have increased their stakes in Marathon Petroleum, with Demars Financial Group LLC posting a significant increase of 16,338.3% by acquiring over 4 million additional shares.
• Marathon Petroleum recently announced a quarterly dividend of $0.91 per share, reflecting a 2.2% dividend yield and a payout ratio of 54.01%.

Dimensional Fund Advisors LP lowered its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 4.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,185,030 shares of the oil and gas company's stock after selling 214,947 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.36% of Marathon Petroleum worth $609,613,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Marathon Petroleum by 12.3% during the 1st quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company's stock worth $5,090,611,000 after acquiring an additional 3,834,501 shares during the period. Boston Partners grew its stake in Marathon Petroleum by 58.5% in the first quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company's stock valued at $791,274,000 after purchasing an additional 2,011,810 shares in the last quarter. Bank of New York Mellon Corp increased its position in Marathon Petroleum by 3.7% in the 1st quarter. Bank of New York Mellon Corp now owns 4,982,348 shares of the oil and gas company's stock worth $725,878,000 after purchasing an additional 178,397 shares during the last quarter. Demars Financial Group LLC lifted its stake in shares of Marathon Petroleum by 12.8% in the 1st 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 purchasing an additional 536,462 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Marathon Petroleum by 14.0% in the fourth 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 in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the company's stock in a transaction dated 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 directly owned 18,944 shares of the company's stock, valued at approximately $3,315,200. This represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Molly R. Benson sold 10,879 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the transaction, the insider directly owned 28,700 shares in the company, valued at $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company's stock.

Analyst Ratings Changes

MPC has been the subject of a number of analyst reports. Piper Sandler upped their price target on Marathon Petroleum from $175.00 to $182.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. UBS Group raised their target price on shares of Marathon Petroleum from $175.00 to $203.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. TD Cowen lowered their price target on Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Raymond James Financial reissued an "outperform" rating and set a $200.00 price objective (up previously from $180.00) on shares of Marathon Petroleum in a research report on Tuesday, July 15th. Finally, Wall Street Zen raised Marathon Petroleum from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $185.29.

Marathon Petroleum Price Performance

Shares of MPC stock traded up $1.5870 during mid-day trading on Tuesday, reaching $164.2570. The company's stock had a trading volume of 1,940,411 shares, compared to its average volume of 2,636,999. The firm's 50-day moving average is $169.47 and its two-hundred day moving average is $154.19. The company has a market cap of $49.94 billion, a P/E ratio of 24.37, a PEG ratio of 2.95 and a beta of 0.90. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $183.10. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23.

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

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 2.2%. Marathon Petroleum's payout ratio is currently 54.01%.

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.