LSV Asset Management Sells 36,472 Shares of Marathon Petroleum Corporation (NYSE:MPC)

Key Points

• LSV Asset Management has reduced its stake in Marathon Petroleum by 2.4%, now holding approximately 1.47 million shares worth $214.8 million.
• Marathon Petroleum reported earnings of ($0.24) per share for its latest quarter, surpassing estimates, and generated $31.85 billion in revenue, which was also above expectations.
• The company announced a quarterly dividend of $0.91 per share, with a dividend yield of 2.2%, scheduled for payment on September 10th.

LSV Asset Management cut its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 2.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,474,411 shares of the oil and gas company's stock after selling 36,472 shares during the quarter. LSV Asset Management owned about 0.47% of Marathon Petroleum worth $214,807,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Beverly Hills Private Wealth LLC grew its stake in shares of Marathon Petroleum by 1.2% in the fourth quarter. Beverly Hills Private Wealth LLC now owns 6,655 shares of the oil and gas company's stock valued at $928,000 after buying an additional 76 shares in the last quarter. Sunpointe LLC increased its stake in shares of Marathon Petroleum by 5.1% during the first quarter. Sunpointe LLC now owns 1,681 shares of the oil and gas company's stock worth $245,000 after purchasing an additional 81 shares during the period. Valmark Advisers Inc. boosted its stake in Marathon Petroleum by 2.3% in the 1st quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company's stock valued at $554,000 after purchasing an additional 86 shares during the period. Southland Equity Partners LLC lifted its holdings in shares of Marathon Petroleum by 6.2% during the first quarter. Southland Equity Partners LLC now owns 1,549 shares of the oil and gas company's stock worth $226,000 after buying an additional 90 shares in the last quarter. Finally, Prudent Man Advisors LLC boosted its position in shares of Marathon Petroleum by 2.3% in the first 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 owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Barclays increased their target price on shares of Marathon Petroleum from $159.00 to $189.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Mizuho increased their target price on Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Piper Sandler boosted their price target on Marathon Petroleum from $175.00 to $182.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. UBS Group boosted their target price 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. Finally, Raymond James Financial reissued an "outperform" rating and issued a $200.00 price objective (up from $180.00) on shares of Marathon Petroleum in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $183.93.

Insiders Place Their Bets

In related news, Director Kim K.W. Rucker sold 7,392 shares of the company's stock in a transaction dated 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 sale, the director owned 18,944 shares in the company, valued at $3,315,200. This represents a 28.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.25% of the company's stock.

Marathon Petroleum Trading Up 1.7%

Shares of NYSE MPC traded up $2.77 during trading on Monday, reaching $168.30. The company had a trading volume of 2,068,019 shares, compared to its average volume of 2,039,764. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $183.10. The company has a quick ratio of 0.73, a current ratio of 1.19 and a debt-to-equity ratio of 1.16. The stock has a market cap of $51.70 billion, a P/E ratio of 23.67, a PEG ratio of 2.83 and a beta of 0.90. The company's fifty day moving average price is $168.81 and its 200-day moving average price is $153.29.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its 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. The business had revenue of $31.85 billion during the quarter, compared to the consensus estimate of $28.91 billion. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The company's revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.58 EPS. As a group, research analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, August 20th. Marathon Petroleum's dividend payout ratio (DPR) is presently 51.20%.

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.