Marathon Petroleum Corporation (NYSE:MPC) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 11.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 233,466 shares of the oil and gas company's stock after selling 31,228 shares during the quarter. Envestnet Asset Management Inc. owned about 0.07% of Marathon Petroleum worth $34,014,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. TCTC Holdings LLC grew its holdings in shares of Marathon Petroleum by 3.3% during the 4th quarter. TCTC Holdings LLC now owns 91,256 shares of the oil and gas company's stock worth $12,730,000 after purchasing an additional 2,892 shares during the period. Cambridge Financial Group Inc. purchased a new position in shares of Marathon Petroleum during the 4th quarter worth $5,624,000. Good Steward Wealth Advisors LLC purchased a new position in shares of Marathon Petroleum during the 1st quarter worth $346,000. New Age Alpha Advisors LLC purchased a new position in shares of Marathon Petroleum during the 4th quarter worth $1,192,000. Finally, Silver Oak Securities Incorporated purchased a new position in shares of Marathon Petroleum during the 1st quarter worth $339,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

MPC traded up $0.67 during trading on Thursday, hitting $173.04. 163,035 shares of the stock were exchanged, compared to its average volume of 2,709,429. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $183.31. The company has a quick ratio of 0.73, a current ratio of 1.19 and a debt-to-equity ratio of 1.16. The stock has a fifty day moving average price of $165.56 and a two-hundred day moving average price of $150.71. The firm has a market capitalization of $53.16 billion, a P/E ratio of 24.32, a PEG ratio of 3.40 and a beta of 0.88.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $28.91 billion. During the same quarter in the prior year, the business earned $2.58 earnings per share. The company's quarterly revenue was down 4.1% compared to the same quarter last year. As a group, sell-side analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend was Wednesday, May 21st. Marathon Petroleum's dividend payout ratio is presently 51.20%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MPC shares. Wall Street Zen upgraded Marathon Petroleum from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Citigroup raised their target price on Marathon Petroleum from $144.00 to $182.00 and gave the company a "neutral" rating in a report on Wednesday. Scotiabank restated an "outperform" rating on shares of Marathon Petroleum in a report on Friday, July 11th. Mizuho raised their target price on 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 lifted their price objective on Marathon Petroleum from $160.00 to $182.00 and gave the company an "overweight" rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $184.53.

Insiders Place Their Bets

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

About Marathon Petroleum

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.