Guggenheim Capital LLC Sells 11,041 Shares of Marathon Petroleum Corporation $MPC

Key Points

• Guggenheim Capital LLC reduced its stake in Marathon Petroleum by 9.7%, selling 11,041 shares and holding 102,527 shares, valued at approximately $14.9 million as of its latest SEC filing.
• Multiple institutional investors, including Vanguard Group and Wellington Management, increased their stakes in Marathon Petroleum during the first quarter, indicating strong institutional interest in the company.
• Marathon Petroleum announced a quarterly dividend of $0.91 per share, which will be paid to stockholders on September 10th, representing a 2.0% dividend yield.

Guggenheim Capital LLC lessened its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 9.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,527 shares of the oil and gas company's stock after selling 11,041 shares during the period. Guggenheim Capital LLC's holdings in Marathon Petroleum were worth $14,937,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Marathon Petroleum by 12.3% during 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 buying an additional 3,834,501 shares during the period. Wellington Management Group LLP raised 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 valued at $1,722,664,000 after buying an additional 1,862,674 shares in the last quarter. Raymond James Financial Inc. raised 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 valued at $879,608,000 after buying an additional 355,215 shares in the last quarter. Boston Partners raised 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 valued at $791,274,000 after buying an additional 2,011,810 shares in the last quarter. Finally, Bank of New York Mellon Corp raised 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 valued at $725,878,000 after buying an additional 178,397 shares in the last quarter. Institutional investors own 76.77% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on MPC shares. Evercore ISI started coverage on shares of Marathon Petroleum in a research report on Wednesday, June 18th. They set an "in-line" rating and a $170.00 price objective for the company. Wall Street Zen raised shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Mizuho boosted their target price on shares of Marathon Petroleum from $168.00 to $184.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Barclays boosted their target price on shares of Marathon Petroleum from $159.00 to $189.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Finally, Wolfe Research downgraded shares of Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Eight investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $185.29.

Marathon Petroleum Stock Up 0.3%

Shares of MPC stock traded up $0.49 on Friday, hitting $179.79. The stock had a trading volume of 1,753,792 shares, compared to its average volume of 1,843,214. The business has a 50 day moving average of $170.44 and a 200 day moving average of $155.34. The stock has a market cap of $54.66 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 3.27 and a beta of 0.90. 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 12-month low of $115.10 and a 12-month high of $183.10.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating the consensus estimate of $3.22 by $0.74. The company had revenue of $34.10 billion during 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 for the quarter was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.12 earnings per share. As a group, analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th will be given a dividend of $0.91 per share. The ex-dividend date is Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 2.0%. Marathon Petroleum's dividend payout ratio is presently 54.01%.

Insider Activity

In related news, Director Kim K.W. Rucker sold 7,392 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the completion of the transaction, the director owned 18,944 shares in the company, valued at approximately $3,315,200. This represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Molly R. Benson sold 10,879 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the transaction, the insider owned 28,700 shares of the company's stock, valued at approximately $4,678,100. The trade was a 27.49% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Marathon Petroleum Company 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.