MetLife Investment Management LLC Decreases Stake in Marathon Petroleum Corporation $MPC

Key Points

• MetLife Investment Management LLC reduced its stake in Marathon Petroleum Corporation by 3.7% in the first quarter, now owning 82,167 shares valued at approximately $11.97 million.
• Insider Molly R. Benson sold 10,879 shares at an average price of $163.00, resulting in a 27.49% decrease in her ownership of the stock.
• Marathon Petroleum recently announced a quarterly dividend of $0.91, which will provide an annual yield of 2.1% based on its current share price.

MetLife Investment Management LLC cut its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 3.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 82,167 shares of the oil and gas company's stock after selling 3,128 shares during the period. MetLife Investment Management LLC's holdings in Marathon Petroleum were worth $11,971,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Beverly Hills Private Wealth LLC boosted its stake in shares of Marathon Petroleum by 1.2% during the fourth quarter. Beverly Hills Private Wealth LLC now owns 6,655 shares of the oil and gas company's stock worth $928,000 after buying an additional 76 shares during the period. Sunpointe LLC lifted its position in shares of Marathon Petroleum by 5.1% during the 1st quarter. Sunpointe LLC now owns 1,681 shares of the oil and gas company's stock valued at $245,000 after acquiring an additional 81 shares during the period. Valmark Advisers Inc. lifted its position in shares of Marathon Petroleum by 2.3% during the 1st quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company's stock valued at $554,000 after acquiring an additional 86 shares during the period. Southland Equity Partners LLC lifted its position in shares of Marathon Petroleum by 6.2% during the 1st quarter. Southland Equity Partners LLC now owns 1,549 shares of the oil and gas company's stock valued at $226,000 after acquiring an additional 90 shares during the period. Finally, Prudent Man Advisors LLC lifted its position in shares of Marathon Petroleum by 2.3% during the 1st quarter. Prudent Man Advisors LLC now owns 4,056 shares of the oil and gas company's stock valued at $591,000 after acquiring an additional 91 shares during the period. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Trading Up 0.3%

Shares of NYSE MPC traded up $0.49 on Friday, reaching $179.79. 1,753,792 shares of the company traded hands, compared to its average volume of 2,602,559. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $183.10. The company has a 50 day moving average of $170.22 and a 200 day moving average of $155.17. 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 market capitalization of $54.66 billion, a PE ratio of 26.67, a P/E/G ratio of 3.23 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The company had revenue of $34.10 billion during the quarter, compared to analysts' expectations of $31.70 billion. During the same period in the previous year, the company earned $4.12 EPS. The business's quarterly revenue was down 11.1% compared to the same quarter last year. On average, equities research analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders 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 dividend yield of 2.0%. Marathon Petroleum's payout ratio is currently 54.01%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Piper Sandler lifted their price target on shares of Marathon Petroleum from $175.00 to $182.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Evercore ISI began coverage on shares of Marathon Petroleum in a research report on Wednesday, June 18th. They set an "in-line" rating and a $170.00 price target for the company. TD Cowen dropped their price objective on shares of Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Barclays raised their price objective on shares of Marathon Petroleum from $159.00 to $189.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Finally, Wolfe Research cut shares of Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. 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. According to MarketBeat, Marathon Petroleum currently has a consensus rating of "Hold" and an average target price of $185.29.

Insider Buying and Selling at Marathon Petroleum

In related news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction on 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 completion of the sale, the insider directly owned 28,700 shares in the company, valued at approximately $4,678,100. This represents a 27.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kim K.W. Rucker sold 7,392 shares of the 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 completion of the sale, the director owned 18,944 shares of the company's stock, valued at approximately $3,315,200. This represents a 28.07% 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 corporate insiders.

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.