Gotham Asset Management LLC Sells 2,288 Shares of Marathon Petroleum Corporation $MPC

Key Points

• Gotham Asset Management LLC reduced its stake in Marathon Petroleum Corporation by 3.0%, selling 2,288 shares to hold a total of 74,892 shares valued at approximately $10.91 million.
• Insider transactions were noted, with Molly R. Benson selling 10,879 shares at $163.00 each, and Kim K.W. Rucker selling 7,392 shares at $175.00 each, representing decreases in their holdings of 27.49% and 28.07% respectively.
• Marathon Petroleum announced a quarterly dividend of $0.91 per share, set to be paid on September 10th, with a dividend yield of 2.0% and a current payout ratio of 54.01%.

Gotham Asset Management LLC lowered its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 3.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,892 shares of the oil and gas company's stock after selling 2,288 shares during the quarter. Gotham Asset Management LLC's holdings in Marathon Petroleum were worth $10,911,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Marathon Petroleum by 12.3% in 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. Wellington Management Group LLP lifted its position in shares of Marathon Petroleum by 18.7% in the 1st quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company's stock worth $1,722,664,000 after acquiring an additional 1,862,674 shares during the period. Raymond James Financial Inc. lifted its position in shares of Marathon Petroleum by 6.3% in the 1st quarter. Raymond James Financial Inc. now owns 6,037,532 shares of the oil and gas company's stock worth $879,608,000 after acquiring an additional 355,215 shares during the period. Boston Partners lifted its position in shares of Marathon Petroleum by 58.5% in the 1st quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company's stock worth $791,274,000 after acquiring an additional 2,011,810 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of 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 acquiring an additional 178,397 shares during the period. Institutional investors own 76.77% of the company's stock.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the business's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total value of $1,293,600.00. Following the completion of the transaction, the director directly owned 18,944 shares of the company's stock, valued at approximately $3,315,200. The trade was a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Molly R. Benson sold 10,879 shares of the business's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the sale, the insider directly owned 28,700 shares in the company, valued at approximately $4,678,100. This represents a 27.49% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MPC. Evercore ISI began coverage on Marathon Petroleum in a research report on Wednesday, June 18th. They set an "in-line" rating and a $170.00 target price for the company. Wolfe Research downgraded Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. Mizuho lifted their price objective on Marathon Petroleum from $168.00 to $184.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Dbs Bank upgraded Marathon Petroleum to a "moderate buy" rating in a research report on Monday, July 28th. Finally, Wall Street Zen upgraded Marathon Petroleum from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Eight investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Marathon Petroleum presently has an average rating of "Moderate Buy" and an average price target of $186.50.

Marathon Petroleum Trading Up 1.0%

Shares of Marathon Petroleum stock traded up $1.90 during trading on Tuesday, reaching $183.09. 2,307,698 shares of the company were exchanged, compared to its average volume of 1,751,463. 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 Corporation has a twelve month low of $115.10 and a twelve month high of $186.28. The business has a 50-day moving average price of $172.30 and a 200-day moving average price of $156.55. The firm has a market capitalization of $55.66 billion, a price-to-earnings ratio of 27.16, a P/E/G ratio of 3.66 and a beta of 0.97.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 EPS 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 business 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 earned $4.12 earnings per share. The firm's quarterly revenue was down 11.1% compared to the same quarter last year. Sell-side analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, August 20th. Marathon Petroleum's payout ratio is presently 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.