Kathmere Capital Management LLC Decreases Stake in Marathon Petroleum Corporation $MPC

Key Points

• Kathmere Capital Management LLC has decreased its stake in Marathon Petroleum Corporation by 37.0%, now holding 2,841 shares valued at approximately $472,000.
• In the 1st quarter, several institutional investors, including Vanguard Group Inc. and Boston Partners, made significant increases to their positions in Marathon Petroleum, contributing to a total of 76.77% institutional ownership.
• Marathon Petroleum recently reported earnings of $3.96 EPS for the quarter, exceeding expectations, with revenue of $34.10 billion despite an 11.1% year-over-year decline.

Kathmere Capital Management LLC reduced its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 37.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,841 shares of the oil and gas company's stock after selling 1,667 shares during the period. Kathmere Capital Management LLC's holdings in Marathon Petroleum were worth $472,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in MPC. Vanguard Group Inc. boosted its position 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 purchasing an additional 3,834,501 shares in the last quarter. Boston Partners boosted its position in shares of 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 worth $791,274,000 after purchasing an additional 2,011,810 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of 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 worth $1,722,664,000 after purchasing an additional 1,862,674 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of 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 worth $224,503,000 after purchasing an additional 1,530,737 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Marathon Petroleum during the 1st quarter worth $147,122,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Trading Up 1.2%

Shares of MPC stock opened at $198.85 on Monday. The firm has a 50-day moving average price of $175.09 and a 200 day moving average price of $160.70. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $201.61. The company has a market capitalization of $60.45 billion, a price-to-earnings ratio of 29.50, a PEG ratio of 3.44 and a beta of 0.97. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly 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 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 was down 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.12 EPS. Research analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were issued a $0.91 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 1.8%. Marathon Petroleum's payout ratio is 54.01%.

Insider Activity

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction dated 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 in the company, valued at $3,315,200. The trade was a 28.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum 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 completion of the sale, the insider owned 28,700 shares of the company's stock, valued at $4,678,100. This trade represents a 27.49% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on MPC. Morgan Stanley lifted their price target on Marathon Petroleum from $160.00 to $182.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Raymond James Financial lifted their price target on Marathon Petroleum from $195.00 to $199.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 9th. Evercore ISI lifted their price target on Marathon Petroleum from $170.00 to $210.00 and gave the stock an "in-line" rating in a research note on Friday, September 19th. UBS Group lifted their price target on Marathon Petroleum from $203.00 to $220.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Dbs Bank raised Marathon Petroleum to a "moderate buy" rating in a research note on Monday, July 28th. Eight research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $195.00.

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.

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