Interchange Capital Partners LLC trimmed its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 91.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,046 shares of the oil and gas company's stock after selling 10,972 shares during the period. Interchange Capital Partners LLC's holdings in Marathon Petroleum were worth $174,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of MPC. Vanguard Group Inc. grew its holdings in 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 last quarter. Boston Partners grew its holdings in Marathon Petroleum by 58.5% in the first quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company's stock valued at $791,274,000 after purchasing an additional 2,011,810 shares during the last quarter. Wellington Management Group LLP grew its holdings in Marathon Petroleum by 18.7% in the first 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 purchasing an additional 1,862,674 shares during the last quarter. Nuveen LLC acquired a new stake in Marathon Petroleum in the first quarter valued at $147,122,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in Marathon Petroleum by 26.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,675,362 shares of the oil and gas company's stock valued at $535,465,000 after purchasing an additional 769,015 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company's stock.
Analyst Upgrades and Downgrades
MPC has been the topic of several research reports. Dbs Bank raised Marathon Petroleum to a "moderate buy" rating in a report on Monday, July 28th. Bank of America upped their target price on Marathon Petroleum from $184.00 to $192.00 and gave the company a "neutral" rating in a report on Wednesday, September 3rd. Evercore ISI upped their price objective on Marathon Petroleum from $170.00 to $210.00 and gave the company an "in-line" rating in a research report on Friday, September 19th. Weiss Ratings restated a "hold (c)" rating on shares of Marathon Petroleum in a research report on Wednesday, October 8th. Finally, Mizuho upped their price objective on Marathon Petroleum from $184.00 to $188.00 and gave the company a "neutral" rating in a research report on Monday, September 15th. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Marathon Petroleum presently has an average rating of "Moderate Buy" and an average target price of $199.31.
Read Our Latest Stock Analysis on Marathon Petroleum
Insider Transactions at Marathon Petroleum
In other news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum 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. The trade was a 27.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.25% of the company's stock.
Marathon Petroleum Stock Down 0.1%
Shares of NYSE:MPC opened at $183.23 on Wednesday. The stock's 50-day moving average price is $179.32 and its two-hundred day moving average price is $164.12. 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 Corporation has a 12-month low of $115.10 and a 12-month high of $201.61. The firm has a market cap of $55.71 billion, a price-to-earnings ratio of 27.19, 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 (EPS) for the quarter, topping analysts' consensus estimates of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The firm had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. During the same period last year, the company earned $4.12 EPS. The firm's quarterly revenue was down 11.1% on a year-over-year basis. On average, research analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current year.
Marathon Petroleum Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, August 20th. Marathon Petroleum's dividend payout ratio (DPR) is presently 54.01%.
Marathon Petroleum Company Profile
(
Free Report)
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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