Intech Investment Management LLC Lowers Stock Holdings in Marathon Petroleum Corporation $MPC

Key Points

• Intech Investment Management LLC reduced its holdings in Marathon Petroleum Corporation by 20.4%, selling 7,237 shares and ending with 28,177 shares valued at approximately $4.1 million.
• The firm reported a 3.96 EPS for the last quarter, exceeded expectations, but experienced an 11.1% decline in revenue year-over-year, bringing in $34.1 billion.
• Marathon Petroleum declared a quarterly dividend of $0.91 per share, resulting in a yield of 2.0% and a payout ratio of 54.01%.

Intech Investment Management LLC decreased its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 20.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,177 shares of the oil and gas company's stock after selling 7,237 shares during the quarter. Intech Investment Management LLC's holdings in Marathon Petroleum were worth $4,105,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Focus Partners Wealth grew its holdings in Marathon Petroleum by 2.5% during the 1st quarter. Focus Partners Wealth now owns 43,835 shares of the oil and gas company's stock worth $6,387,000 after acquiring an additional 1,087 shares during the last quarter. Integrity Alliance LLC. acquired a new stake in Marathon Petroleum during the 1st quarter worth approximately $217,000. Ransom Advisory Ltd acquired a new stake in Marathon Petroleum during the 1st quarter worth approximately $79,000. Bayforest Capital Ltd acquired a new stake in shares of Marathon Petroleum in the first quarter valued at approximately $72,000. Finally, SCS Capital Management LLC acquired a new stake in shares of Marathon Petroleum in the first quarter valued at approximately $662,000. Institutional investors and hedge funds own 76.77% of the company's stock.

Insider Activity

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 transaction of $1,293,600.00. Following the sale, the director owned 18,944 shares in the company, valued at approximately $3,315,200. The trade was a 28.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Molly R. Benson sold 10,879 shares of the business's stock in a transaction dated 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 sale, 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 disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Marathon Petroleum Price Performance

Shares of NYSE:MPC traded down $1.53 during trading on Thursday, hitting $183.16. 463,539 shares of the company's stock were exchanged, compared to its average volume of 2,538,377. 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 52-week low of $115.10 and a 52-week high of $186.28. The business's 50-day simple moving average is $173.05 and its 200 day simple moving average is $157.84. The company has a market cap of $55.68 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 3.38 and a beta of 0.97.

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, beating the consensus estimate of $3.22 by $0.74. The business had revenue of $34.10 billion during the quarter, compared to analysts' expectations of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The firm's revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.12 EPS. As a group, equities analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have commented on MPC. Wells Fargo & Company lifted their price objective on shares of Marathon Petroleum from $182.00 to $205.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Evercore ISI started coverage on Marathon Petroleum in a research note on Wednesday, June 18th. They issued an "in-line" rating and a $170.00 price objective for the company. Raymond James Financial increased their target price on shares of Marathon Petroleum from $195.00 to $199.00 and gave the company an "outperform" rating in a research report on Tuesday, September 9th. Scotiabank restated an "outperform" rating on shares of Marathon Petroleum in a report on Friday, July 11th. Finally, Wolfe Research downgraded shares of Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. Eight equities 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, Marathon Petroleum has an average rating of "Moderate Buy" and a consensus price target of $189.64.

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.