Marathon Petroleum Corporation $MPC Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

Key Points

• British Columbia Investment Management Corp reduced its stake in Marathon Petroleum by 4.1% in Q1, resulting in holdings valued at approximately $8.96 million.
• Marathon Petroleum's stock has gained positive ratings from several analysts, with Wells Fargo and UBS raising price targets to as high as $205.00.
• The company recently announced a quarterly dividend of $0.91, which marks a 2.1% annual yield and is set to be paid on September 10th.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 4.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,465 shares of the oil and gas company's stock after selling 2,624 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Marathon Petroleum were worth $8,955,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Fourth Dimension Wealth LLC acquired a new position in Marathon Petroleum in the 4th quarter valued at about $26,000. CBIZ Investment Advisory Services LLC increased its stake in Marathon Petroleum by 1,546.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company's stock worth $31,000 after buying an additional 201 shares during the period. Hughes Financial Services LLC purchased a new stake in Marathon Petroleum during the 1st quarter worth approximately $32,000. Decker Retirement Planning Inc. lifted its holdings in Marathon Petroleum by 1,621.4% during the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock worth $35,000 after buying an additional 227 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Marathon Petroleum in the first quarter worth $35,000. Hedge funds and other institutional investors own 76.77% of the company's stock.

Marathon Petroleum Stock Performance

NYSE MPC traded up $0.24 on Friday, reaching $179.54. The stock had a trading volume of 998,008 shares, compared to its average volume of 2,597,552. The business's 50-day moving average price is $170.22 and its 200 day moving average price is $155.17. The stock has a market cap of $54.58 billion, a P/E ratio of 26.58, a price-to-earnings-growth ratio of 3.23 and a beta of 0.90. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $183.10. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23.

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 firm had revenue of $34.10 billion during the quarter, compared to analysts' expectations of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. Marathon Petroleum's quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.12 EPS. As a group, equities 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 disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 2.0%. Marathon Petroleum's dividend payout ratio is currently 54.01%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MPC shares. Wolfe Research lowered Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Wall Street Zen upgraded Marathon Petroleum from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Morgan Stanley boosted their target price on shares of 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 reiterated an "outperform" rating and issued a $200.00 price objective (up previously from $180.00) on shares of Marathon Petroleum in a report on Tuesday, July 15th. Finally, Dbs Bank upgraded 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, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $185.29.

Insider Activity 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 on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total value of $1,293,600.00. Following the transaction, the director directly owned 18,944 shares of the company's stock, valued at approximately $3,315,200. The trade was a 28.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Molly R. Benson sold 10,879 shares of the firm's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction 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. Company 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.