Envestnet Portfolio Solutions Inc. Reduces Stake in Marathon Petroleum Corporation $MPC

Key Points

• Envestnet Portfolio Solutions cut its Marathon Petroleum stake by 40.4% in the fourth quarter, leaving it with 15,721 shares valued at about $2.56 million.
• Marathon Petroleum reported strong quarterly results, with EPS of $1.65 versus the $0.74 consensus and revenue of $34.2 billion, topping expectations and rising 8.5% year over year.
• The company announced a quarterly dividend of $1.00 per share to be paid June 10, and analysts currently rate the stock a “Moderate Buy” with an average target price of $259.44.

Envestnet Portfolio Solutions Inc. decreased its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 40.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 15,721 shares of the oil and gas company's stock after selling 10,643 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Marathon Petroleum were worth $2,557,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Boston Partners raised its holdings in shares of Marathon Petroleum by 2.3% in the 3rd quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company's stock valued at $1,214,522,000 after acquiring an additional 141,691 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Marathon Petroleum by 2.0% in the 3rd quarter. Legal & General Group Plc now owns 1,861,020 shares of the oil and gas company's stock valued at $358,693,000 after acquiring an additional 35,847 shares in the last quarter. Amundi raised its holdings in shares of Marathon Petroleum by 11.8% in the 3rd quarter. Amundi now owns 1,626,862 shares of the oil and gas company's stock valued at $314,830,000 after acquiring an additional 172,172 shares in the last quarter. National Pension Service raised its holdings in shares of Marathon Petroleum by 1.7% in the 3rd quarter. National Pension Service now owns 849,268 shares of the oil and gas company's stock valued at $163,688,000 after acquiring an additional 14,308 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Marathon Petroleum by 1.8% in the 3rd quarter. Rhumbline Advisers now owns 669,237 shares of the oil and gas company's stock valued at $128,989,000 after acquiring an additional 11,948 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company's stock.

Marathon Petroleum Stock Performance

Shares of NYSE MPC opened at $255.22 on Friday. The stock has a market cap of $74.51 billion, a price-to-earnings ratio of 16.66, a P/E/G ratio of 0.33 and a beta of 0.53. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 1-year low of $155.93 and a 1-year high of $264.14. The stock's 50-day moving average is $238.34 and its 200 day moving average is $205.61.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The company had revenue of $34.20 billion for the quarter, compared to analysts' expectations of $33.42 billion. During the same period last year, the firm posted ($0.24) EPS. Marathon Petroleum's revenue for the quarter was up 8.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Marathon Petroleum Corporation will post 29.67 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.6%. The ex-dividend date is Wednesday, May 20th. Marathon Petroleum's dividend payout ratio (DPR) is presently 26.11%.

Insider Transactions at Marathon Petroleum

In related news, insider Ricky D. Hessling sold 1,810 shares of the firm's stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $224.78, for a total transaction of $406,851.80. Following the transaction, the insider directly owned 10,188 shares in the company, valued at $2,290,058.64. This trade represents a 15.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 4,473 shares of company stock worth $1,015,428. 0.17% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on MPC. Wall Street Zen raised Marathon Petroleum from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 10th. Citigroup raised their price target on Marathon Petroleum from $243.00 to $257.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. raised their price target on Marathon Petroleum from $235.00 to $257.00 in a report on Wednesday, May 6th. Barclays raised their price target on Marathon Petroleum from $230.00 to $270.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Finally, UBS Group set a $285.00 price target on Marathon Petroleum in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $259.44.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation NYSE: MPC is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum's operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.

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