Invesco Ltd. Trims Holdings in Marathon Petroleum Corporation (NYSE:MPC)

Key Points

• Invesco Ltd. reduced its stock position in Marathon Petroleum Corporation by 1.6%, owning approximately 3.35 million shares valued at about $487 million after selling 55,355 shares.
• Institutional investors hold 76.77% of Marathon Petroleum's stock, with Brighton Jones LLC increasing its holdings by 30.9% in the last quarter.
• Marathon Petroleum's recent quarterly earnings exceeded analysts’ expectations with an EPS of $3.96, surpassing the consensus estimate by $0.74.

Invesco Ltd. decreased its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,345,471 shares of the oil and gas company's stock after selling 55,355 shares during the quarter. Invesco Ltd. owned approximately 1.09% of Marathon Petroleum worth $487,402,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MPC. Demars Financial Group LLC lifted its position in Marathon Petroleum by 16,338.3% in the fourth quarter. Demars Financial Group LLC now owns 4,177,133 shares of the oil and gas company's stock worth $582,710,000 after purchasing an additional 4,151,722 shares during the period. Vanguard Group Inc. raised its stake in 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 valued at $5,090,611,000 after purchasing an additional 3,834,501 shares during the period. GAMMA Investing LLC boosted its holdings in Marathon Petroleum by 14,969.1% during the first quarter. GAMMA Investing LLC now owns 1,540,963 shares of the oil and gas company's stock valued at $224,503,000 after acquiring an additional 1,530,737 shares during the period. Two Sigma Investments LP bought a new stake in Marathon Petroleum during the fourth quarter valued at about $81,318,000. Finally, Two Sigma Advisers LP bought a new stake in Marathon Petroleum during the fourth quarter valued at about $71,842,000. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Trading Up 0.5%

Shares of MPC traded up $0.89 during trading hours on Friday, hitting $163.21. 557,731 shares of the stock were exchanged, compared to its average volume of 2,643,977. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $183.10. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. The business has a 50-day moving average of $169.37 and a 200-day moving average of $153.94. The firm has a market capitalization of $49.62 billion, a P/E ratio of 24.22, a price-to-earnings-growth ratio of 2.94 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The business had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. During the same period in the prior year, the firm earned $4.12 earnings per share. Marathon Petroleum's revenue was down 11.1% on a year-over-year basis. On average, research analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Wednesday, August 20th. Marathon Petroleum's payout ratio is presently 54.01%.

Wall Street Analysts Forecast Growth

MPC has been the subject of several research reports. Evercore ISI initiated coverage on shares of Marathon Petroleum in a research note on Wednesday, June 18th. They issued an "in-line" rating and a $170.00 target price for the company. Mizuho increased their target price on shares of Marathon Petroleum from $168.00 to $184.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Wall Street Zen raised shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Raymond James Financial reissued an "outperform" rating and issued a $200.00 price target (up previously from $180.00) on shares of Marathon Petroleum in a research report on Tuesday, July 15th. Finally, Wells Fargo & Company increased their price target 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $185.29.

Insider Buying and Selling at Marathon Petroleum

In related news, Director Kim K.W. Rucker sold 7,392 shares of the company's stock in a transaction on 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 sale, the director directly owned 18,944 shares in the company, valued at $3,315,200. This represents a 28.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.21% of the company's stock.

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.