Empowered Funds LLC Cuts Stake in Marathon Petroleum Corporation $MPC

Key Points

• Empowered Funds LLC reduced its stake in Marathon Petroleum by 14.4%, now owning approximately 0.06% of the company, valued at $28.3 million.
• Several institutional investors have increased their holdings in Marathon Petroleum, with 76.77% of the company's shares owned by institutional investors and hedge funds.
• Marathon Petroleum announced a quarterly dividend of $0.91, resulting in an annualized dividend yield of 2.0%.

Empowered Funds LLC lessened its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 14.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 194,403 shares of the oil and gas company's stock after selling 32,593 shares during the quarter. Empowered Funds LLC owned about 0.06% of Marathon Petroleum worth $28,323,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Fourth Dimension Wealth LLC acquired a new stake in Marathon Petroleum during the 4th quarter valued at $26,000. CBIZ Investment Advisory Services LLC grew its holdings 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 valued at $31,000 after buying an additional 201 shares during the last quarter. Hughes Financial Services LLC acquired a new stake in Marathon Petroleum during the 1st quarter valued at $32,000. WPG Advisers LLC acquired a new stake in Marathon Petroleum during the 1st quarter valued at $32,000. Finally, Decker Retirement Planning Inc. grew 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 valued at $35,000 after buying an additional 227 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company's stock.

Marathon Petroleum Trading Down 1.2%

NYSE:MPC traded down $2.13 on Friday, hitting $180.18. 1,500,292 shares of the stock were exchanged, compared to its average volume of 1,716,743. The stock has a market cap of $54.78 billion, a PE ratio of 26.73, a PEG ratio of 3.52 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. The stock has a fifty day moving average of $172.81 and a 200-day moving average of $157.27. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $186.28.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, topping the consensus estimate of $3.22 by $0.74. The company had revenue of $34.10 billion during the quarter, compared to analyst estimates 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 period in the prior year, the firm posted $4.12 earnings per share. As a group, equities analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were paid a dividend of $0.91 per share. The ex-dividend date was 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%.

Insider Activity

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the transaction, the insider directly owned 28,700 shares of the company's stock, valued at $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kim K.W. Rucker sold 7,392 shares of the firm's stock in a transaction dated 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 completion of the transaction, the director directly owned 18,944 shares in the company, valued at $3,315,200. This trade represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.

Analyst Ratings Changes

MPC has been the topic of a number of recent analyst reports. Scotiabank reissued an "outperform" rating on shares of Marathon Petroleum in a research note on Friday, July 11th. UBS Group increased their price target on Marathon Petroleum from $175.00 to $203.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Barclays increased their price target on Marathon Petroleum from $159.00 to $189.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Morgan Stanley increased 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. Finally, Wall Street Zen raised Marathon Petroleum from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Eight analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $189.36.

About Marathon Petroleum

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.