JT Stratford LLC Sells 3,186 Shares of Marathon Petroleum Corporation $MPC

Key Points

• JT Stratford LLC has reduced its holdings in Marathon Petroleum by 50.4%, now owning 3,137 shares valued at approximately $457,000.
• Several institutional investors, including Wellington Management Group and Raymond James Financial, have increased their stakes in Marathon Petroleum, indicating a strong interest in the company despite JT Stratford's divestment.
• Marathon Petroleum recently announced a quarterly dividend of $0.91 per share, resulting in a yield of 2.2%, with the dividend payout ratio currently at 54.01%.

JT Stratford LLC lowered its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 50.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,137 shares of the oil and gas company's stock after selling 3,186 shares during the period. JT Stratford LLC's holdings in Marathon Petroleum were worth $457,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MPC. Vanguard Group Inc. raised its position in shares of Marathon Petroleum by 12.3% in the first 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. Boston Partners grew its holdings in Marathon Petroleum by 58.5% during 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. Wellington Management Group LLP grew its holdings in Marathon Petroleum by 18.7% during 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. GAMMA Investing LLC grew its holdings in Marathon Petroleum by 14,969.1% during the 1st quarter. GAMMA Investing LLC now owns 1,540,963 shares of the oil and gas company's stock valued at $224,503,000 after buying an additional 1,530,737 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Marathon Petroleum during the 1st quarter valued at about $147,122,000. 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 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. The trade was a 28.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 of the company's stock, valued at approximately $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MPC shares. UBS Group boosted their price target on shares of Marathon Petroleum from $175.00 to $203.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Citigroup upped their target price on Marathon Petroleum from $144.00 to $182.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Dbs Bank raised Marathon Petroleum to a "moderate buy" rating in a research note on Monday, July 28th. Piper Sandler increased their price objective on Marathon Petroleum from $175.00 to $182.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Scotiabank reiterated an "outperform" rating on shares of Marathon Petroleum in a report on Friday, July 11th. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $185.29.

Marathon Petroleum Stock Up 0.9%

Shares of NYSE:MPC traded up $1.5310 on Monday, hitting $172.4110. 424,334 shares of the company traded hands, compared to its average volume of 2,607,294. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $183.10. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The stock has a 50 day simple moving average of $169.60 and a 200-day simple moving average of $154.56. The company has a market cap of $52.42 billion, a PE ratio of 25.58, a PEG ratio of 3.11 and a beta of 0.90.

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, beating the consensus estimate of $3.22 by $0.74. The firm had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The company's revenue was down 11.1% on a year-over-year basis. During the same period last year, the company earned $4.12 earnings per share. As a group, research analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, August 20th. Marathon Petroleum's dividend payout ratio (DPR) 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.