Voya Investment Management LLC Sells 8,628 Shares of Marathon Petroleum Corporation $MPC

Key Points

• Voya Investment Management LLC decreased its stake in Marathon Petroleum by 1.2%, now holding 683,566 shares worth approximately $99.6 million after selling 8,628 shares in the first quarter.
• Marathon Petroleum reported a net margin of 1.58% and earnings per share of $3.96 for its latest quarter, exceeding analysts' expectations by $0.74, despite a 11.1% decline in revenue compared to the previous year.
• The company's recent quarterly dividend was set at $0.91 per share, yielding about 2.0% annually, with a payout ratio of 54.01%.

Voya Investment Management LLC decreased its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 1.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 683,566 shares of the oil and gas company's stock after selling 8,628 shares during the period. Voya Investment Management LLC owned about 0.22% of Marathon Petroleum worth $99,589,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new position in shares of Marathon Petroleum in the 4th quarter worth $26,000. CBIZ Investment Advisory Services LLC increased its holdings in shares of Marathon Petroleum by 1,546.2% in 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 last quarter. Hughes Financial Services LLC bought a new position in shares of Marathon Petroleum in the 1st quarter worth $32,000. WPG Advisers LLC bought a new position in shares of Marathon Petroleum in the 1st quarter worth $32,000. Finally, Decker Retirement Planning Inc. increased its holdings in shares of Marathon Petroleum by 1,621.4% in 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 during the last quarter. Institutional investors own 76.77% of the company's stock.

Insider Activity

In other news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction that occurred 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 represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on MPC shares. TD Cowen decreased their price target on shares of Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Morgan Stanley increased their target price on shares of Marathon Petroleum from $160.00 to $182.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. UBS Group increased their target price on shares of Marathon Petroleum from $175.00 to $203.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Wall Street Zen raised shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Mizuho increased their target price on shares of Marathon Petroleum from $184.00 to $188.00 and gave the company a "neutral" rating in a report on Monday. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $189.64.

Marathon Petroleum Stock Down 0.7%

Marathon Petroleum stock traded down $1.33 during trading hours on Thursday, hitting $183.35. The stock had a trading volume of 545,567 shares, compared to its average volume of 2,538,798. 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 market capitalization of $55.74 billion, a P/E ratio of 27.15, a price-to-earnings-growth ratio of 3.38 and a beta of 0.97. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $186.28. The stock's 50-day moving average price is $173.05 and its 200-day moving average price is $157.84.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.74. The business 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%. The business's revenue for the quarter was down 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $4.12 earnings per share. Equities research analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently announced 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 of this dividend was Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 2.0%. Marathon Petroleum's payout ratio is 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.