Envestnet Portfolio Solutions Inc. Lowers Stock Holdings in Marathon Petroleum Corporation $MPC

Key Points

• Envestnet Portfolio Solutions Inc. reduced its stake in Marathon Petroleum Corporation by 39.5%, holding 29,132 shares valued at approximately $4.84 million after selling 19,030 shares in the second quarter.
• Insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock for a total value of $1,773,277, representing a 27.49% decrease in ownership.
• Marathon Petroleum announced a quarterly dividend of $0.91 per share, with an annualized dividend yield of 2.0% and a payout ratio of 54.01%.

Envestnet Portfolio Solutions Inc. reduced its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 39.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,132 shares of the oil and gas company's stock after selling 19,030 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Marathon Petroleum were worth $4,839,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CBIZ Investment Advisory Services LLC grew its stake in shares of Marathon Petroleum by 1,546.2% in 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 purchasing an additional 201 shares during the last quarter. Hughes Financial Services LLC purchased a new stake in shares of Marathon Petroleum in the first quarter valued at approximately $32,000. WPG Advisers LLC purchased a new stake in shares of Marathon Petroleum in the first quarter valued at approximately $32,000. Decker Retirement Planning Inc. boosted its stake in shares of Marathon Petroleum by 1,621.4% in the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock valued at $35,000 after buying an additional 227 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Marathon Petroleum in the first quarter valued at approximately $35,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction 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 sale, the insider owned 28,700 shares of the company's stock, valued at $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is currently owned by company insiders.

Marathon Petroleum Stock Performance

NYSE MPC opened at $184.09 on Thursday. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $201.61. The stock has a market cap of $55.97 billion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 2.96 and a beta of 0.90. The business has a fifty day moving average of $179.75 and a 200-day moving average of $164.26. 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 released its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, topping analysts' consensus estimates of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The company had revenue of $34.10 billion during the quarter, compared to analysts' expectations of $31.70 billion. During the same period in the previous year, the firm posted $4.12 earnings per share. The business's revenue for the quarter was down 11.1% compared to the same quarter last year. As a group, analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, August 20th. Marathon Petroleum's payout ratio is 54.01%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. TD Cowen decreased their price target on Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. UBS Group lifted their price target on Marathon Petroleum from $203.00 to $220.00 and gave the company a "buy" rating in a research note on Friday, September 26th. Wolfe Research cut Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. BMO Capital Markets lifted their price objective on Marathon Petroleum from $195.00 to $208.00 and gave the stock an "outperform" rating in a report on Monday, September 22nd. Finally, Wells Fargo & Company lifted their price objective on Marathon Petroleum from $182.00 to $205.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Eight research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, Marathon Petroleum currently has an average rating of "Moderate Buy" and an average price target of $199.31.

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.

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