Jefferies Financial Group Inc. Decreases Stock Position in Marathon Petroleum Corporation (NYSE:MPC)

Key Points

• Jefferies Financial Group Inc. reduced its stake in Marathon Petroleum Corporation by 25.2%, selling 31,783 shares, leaving it with 94,578 shares valued at approximately $13.8 million.
• Analysts have set new price targets for Marathon Petroleum, with Wells Fargo raising its target from $182 to $205, while others have ratings ranging from "overweight" to "hold".
• The company recently announced a quarterly dividend of $0.91 per share, reflecting an annualized dividend yield of 2.1% and a payout ratio of 51.20%.

Jefferies Financial Group Inc. cut its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 25.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 94,578 shares of the oil and gas company's stock after selling 31,783 shares during the period. Jefferies Financial Group Inc.'s holdings in Marathon Petroleum were worth $13,779,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in MPC. Natixis Advisors LLC raised its stake in Marathon Petroleum by 6.1% during the first quarter. Natixis Advisors LLC now owns 249,079 shares of the oil and gas company's stock worth $36,288,000 after acquiring an additional 14,316 shares during the period. North Star Asset Management Inc. bought a new stake in Marathon Petroleum during the first quarter worth approximately $234,000. Mesirow Financial Investment Management Inc. boosted its holdings in Marathon Petroleum by 5.5% during the first quarter. Mesirow Financial Investment Management Inc. now owns 10,888 shares of the oil and gas company's stock worth $1,586,000 after buying an additional 569 shares in the last quarter. Arkadios Wealth Advisors lifted its position in shares of Marathon Petroleum by 14.9% in the 1st quarter. Arkadios Wealth Advisors now owns 11,251 shares of the oil and gas company's stock valued at $1,639,000 after acquiring an additional 1,460 shares in the last quarter. Finally, Bayforest Capital Ltd purchased a new stake in shares of Marathon Petroleum in the 1st quarter valued at approximately $72,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MPC shares. Morgan Stanley raised their price target on shares of Marathon Petroleum from $160.00 to $182.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Piper Sandler lifted their price target on shares of Marathon Petroleum from $175.00 to $182.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Mizuho boosted their target price on shares of Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Wells Fargo & Company boosted their target price on shares of Marathon Petroleum from $182.00 to $205.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, Dbs Bank upgraded shares of Marathon Petroleum to a "moderate buy" rating in a research report on Monday, July 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $183.93.

Insider Activity

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

Marathon Petroleum Trading Down 0.1%

Shares of NYSE MPC traded down $0.10 during midday trading on Tuesday, reaching $167.86. The stock had a trading volume of 978,791 shares, compared to its average volume of 2,688,343. The company's 50 day moving average price is $169.00 and its 200 day moving average price is $153.40. The firm has a market cap of $51.57 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 2.83 and a beta of 0.90. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.73 and a current ratio of 1.19. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $183.10.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, topping analysts' consensus estimates of $3.22 by $0.74. The company 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 1.75% and a return on equity of 8.89%. The firm's quarterly revenue was down 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.12 EPS. As a group, sell-side analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The company also recently announced 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. The ex-dividend date is Wednesday, August 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.2%. Marathon Petroleum's dividend payout ratio (DPR) is currently 51.20%.

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.