Forum Financial Management LP Has $1.07 Million Stake in Marathon Petroleum Corporation $MPC

Forum Financial Management LP reduced its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 17.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,462 shares of the oil and gas company's stock after selling 1,354 shares during the period. Forum Financial Management LP's holdings in Marathon Petroleum were worth $1,073,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of MPC. Vanguard Group Inc. lifted its holdings in Marathon Petroleum by 12.3% in the first quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company's stock valued at $5,090,611,000 after buying an additional 3,834,501 shares during the period. Boston Partners lifted its holdings 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 buying an additional 2,011,810 shares during the period. Wellington Management Group LLP lifted its holdings in Marathon Petroleum by 18.7% in the first quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company's stock valued at $1,722,664,000 after buying an additional 1,862,674 shares during the period. Nuveen LLC acquired a new position in Marathon Petroleum in the first quarter valued at approximately $147,122,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Marathon Petroleum by 26.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,675,362 shares of the oil and gas company's stock valued at $535,465,000 after buying an additional 769,015 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wells Fargo & Company assumed coverage on shares of Marathon Petroleum in a research note on Friday, October 17th. They set an "overweight" rating and a $214.00 target price for the company. Barclays raised their target price on shares of Marathon Petroleum from $176.00 to $194.00 and gave the company an "overweight" rating in a report on Monday, October 13th. Raymond James Financial reissued an "outperform" rating and issued a $203.00 target price (up from $199.00) on shares of Marathon Petroleum in a report on Friday, October 17th. BMO Capital Markets lifted their price target on shares of Marathon Petroleum from $195.00 to $208.00 and gave the company an "outperform" rating in a report on Monday, September 22nd. Finally, Piper Sandler lifted their price target on shares of Marathon Petroleum from $184.00 to $222.00 and gave the company a "neutral" rating in a report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $200.31.

Insider Activity

In other 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 value of $1,773,277.00. Following the transaction, the insider owned 28,700 shares in the company, valued at approximately $4,678,100. The trade was a 27.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.21% of the company's stock.

Marathon Petroleum Stock Up 3.9%

NYSE:MPC opened at $195.95 on Friday. The firm's 50 day simple moving average is $182.85 and its 200 day simple moving average is $166.38. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $201.61. The company has a market cap of $59.57 billion, a PE ratio of 29.07, a P/E/G ratio of 3.95 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, topping the consensus estimate of $3.22 by $0.74. The business had revenue of $34.10 billion for the quarter, compared to the consensus estimate 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 was down 11.1% compared to the same quarter last year. During the same period last year, the company earned $4.12 EPS. On average, research analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were given a $0.91 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.9%. Marathon Petroleum's payout ratio is 54.01%.

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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