Marathon Petroleum Corporation $MPC Stake Lessened by Cullen Investment Group LTD.

Key Points

• Cullen Investment Group LTD. reduced its stake in Marathon Petroleum by 49.3%, holding 10,567 shares valued at approximately $1.76 million after selling 10,283 shares.
• Marathon Petroleum's stock price has fluctuated between a 12-month low of $115.10 and a high of $186.28, currently trading at $180.18.
• The company recently announced a quarterly dividend of $0.91, indicating a 2.0% yield based on its dividend payout ratio of 54.01%.

Cullen Investment Group LTD. cut its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 49.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,567 shares of the oil and gas company's stock after selling 10,283 shares during the period. Cullen Investment Group LTD.'s holdings in Marathon Petroleum were worth $1,755,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Good Steward Wealth Advisors LLC acquired a new stake in Marathon Petroleum during the first quarter valued at approximately $346,000. Silver Oak Securities Incorporated acquired a new stake in Marathon Petroleum during the first quarter valued at approximately $339,000. Financial Partners Group LLC lifted its stake in Marathon Petroleum by 65.8% during the first quarter. Financial Partners Group LLC now owns 3,937 shares of the oil and gas company's stock valued at $574,000 after purchasing an additional 1,563 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Marathon Petroleum by 8.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 44,387 shares of the oil and gas company's stock valued at $6,467,000 after purchasing an additional 3,291 shares during the last quarter. Finally, Jump Financial LLC lifted its stake in Marathon Petroleum by 128.0% during the first quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company's stock valued at $1,262,000 after purchasing an additional 4,863 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were 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 owned 28,700 shares in the company, valued at $4,678,100. This represents a 27.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kim K.W. Rucker sold 7,392 shares of the stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total transaction 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. The trade was a 28.07% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on MPC shares. Wall Street Zen raised shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Wells Fargo & Company upped their price target on shares of Marathon Petroleum from $182.00 to $205.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. UBS Group upped their price target on shares of Marathon Petroleum from $175.00 to $203.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. Dbs Bank upgraded shares of Marathon Petroleum to a "moderate buy" rating in a research report on Monday, July 28th. Finally, Bank of America upped their price target on shares of Marathon Petroleum from $184.00 to $192.00 and gave the company a "neutral" rating in a research report on Wednesday, September 3rd. 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, Marathon Petroleum has a consensus rating of "Moderate Buy" and a consensus price target of $189.36.

Marathon Petroleum Stock Down 1.2%

MPC stock opened at $180.18 on Friday. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $186.28. 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 company has a market cap of $54.78 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 3.68 and a beta of 0.97. The company has a 50 day moving average of $172.81 and a two-hundred day moving average of $157.13.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its 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 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 the consensus estimate of $31.70 billion. During the same quarter in the prior year, the firm earned $4.12 EPS. The company's revenue was down 11.1% compared to the same quarter last year. On average, equities analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were given a $0.91 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a yield of 2.0%. Marathon Petroleum's dividend payout ratio is presently 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.

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