Brookstone Capital Management Has $1.32 Million Holdings in Marathon Petroleum Corporation (NYSE:MPC)

Brookstone Capital Management cut its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 85.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,070 shares of the oil and gas company's stock after selling 53,315 shares during the period. Brookstone Capital Management's holdings in Marathon Petroleum were worth $1,321,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Wellington Management Group LLP boosted its position in Marathon Petroleum by 78.1% in the 4th quarter. Wellington Management Group LLP now owns 9,961,503 shares of the oil and gas company's stock valued at $1,389,630,000 after buying an additional 4,367,774 shares during the last quarter. Demars Financial Group LLC raised its stake in Marathon Petroleum by 16,338.3% during the 4th quarter. Demars Financial Group LLC now owns 4,177,133 shares of the oil and gas company's stock worth $582,710,000 after buying an additional 4,151,722 shares during the period. Norges Bank acquired a new stake in Marathon Petroleum during the 4th quarter worth $453,427,000. GAMMA Investing LLC raised its stake in Marathon Petroleum by 14,969.1% during the 1st quarter. GAMMA Investing LLC now owns 1,540,963 shares of the oil and gas company's stock worth $224,503,000 after buying an additional 1,530,737 shares during the period. Finally, Boston Partners raised its stake in shares of Marathon Petroleum by 37.4% in the 4th quarter. Boston Partners now owns 3,436,704 shares of the oil and gas company's stock valued at $480,501,000 after purchasing an additional 935,042 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on MPC shares. Evercore ISI initiated coverage on Marathon Petroleum in a research note on Wednesday, June 18th. They issued an "in-line" rating and a $170.00 price target on the stock. Wall Street Zen upgraded Marathon Petroleum from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Wells Fargo & Company raised their price objective on Marathon Petroleum from $180.00 to $182.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. Scotiabank reduced their price target on Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. Finally, TD Cowen lifted their price target on Marathon Petroleum from $152.00 to $163.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $176.13.

Marathon Petroleum Price Performance

Shares of NYSE MPC traded up $3.43 during midday trading on Tuesday, reaching $179.88. The company's stock had a trading volume of 2,426,230 shares, compared to its average volume of 2,799,332. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.73 and a current ratio of 1.19. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $183.31. The business's 50 day moving average price is $160.42 and its two-hundred day moving average price is $148.83. The company has a market cap of $55.26 billion, a P/E ratio of 25.30, a P/E/G ratio of 3.46 and a beta of 0.88.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, beating analysts' consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The company had revenue of $31.85 billion during the quarter, compared to the consensus estimate of $28.91 billion. During the same period in the previous year, the business earned $2.58 earnings per share. The firm's quarterly revenue was down 4.1% on a year-over-year basis. On average, analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st were given a dividend of $0.91 per share. The ex-dividend date was Wednesday, May 21st. This represents a $3.64 annualized dividend and a yield of 2.02%. Marathon Petroleum's dividend payout ratio is currently 51.20%.

Insider Buying and Selling

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total transaction 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. The trade was a 28.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is currently owned by corporate insiders.

Marathon Petroleum Company 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.