Marathon Petroleum Corporation (NYSE:MPC) Shares Sold by AssuredPartners Investment Advisors LLC

AssuredPartners Investment Advisors LLC cut its position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 64.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,687 shares of the oil and gas company's stock after selling 3,043 shares during the quarter. AssuredPartners Investment Advisors LLC's holdings in Marathon Petroleum were worth $246,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Valmark Advisers Inc. raised its holdings in Marathon Petroleum by 2.3% during the first quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company's stock worth $554,000 after purchasing an additional 86 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings 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 worth $6,467,000 after purchasing an additional 3,291 shares during the last quarter. TrueMark Investments LLC acquired a new position in Marathon Petroleum during the first quarter worth $248,000. Avantra Family Wealth Inc. raised its holdings in shares of Marathon Petroleum by 2.6% in the first quarter. Avantra Family Wealth Inc. now owns 8,745 shares of the oil and gas company's stock worth $1,274,000 after acquiring an additional 224 shares during the last quarter. Finally, LVZ Inc. lifted its position in shares of Marathon Petroleum by 19.9% in the first quarter. LVZ Inc. now owns 3,927 shares of the oil and gas company's stock valued at $572,000 after acquiring an additional 651 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MPC. Piper Sandler cut their target price on shares of Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. Raymond James Financial cut their target price on shares of Marathon Petroleum from $193.00 to $183.00 and set a "strong-buy" rating for the company in a research note on Wednesday, April 9th. Evercore ISI initiated coverage on shares of Marathon Petroleum in a research note on Wednesday, June 18th. They issued an "in-line" rating and a $170.00 target price for the company. Mizuho lifted their price objective on Marathon Petroleum from $168.00 to $184.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company lifted their price objective on Marathon Petroleum from $180.00 to $182.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Marathon Petroleum presently has an average rating of "Moderate Buy" and an average price target of $175.80.

Marathon Petroleum Trading Down 0.8%

Shares of NYSE MPC opened at $165.35 on Wednesday. The stock has a market capitalization of $50.80 billion, a P/E ratio of 23.26, a PEG ratio of 3.29 and a beta of 0.89. The stock's 50 day moving average price is $153.47 and its two-hundred day moving average price is $147.05. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $183.31. The company has a quick ratio of 0.73, a current ratio of 1.19 and a debt-to-equity ratio of 1.16.

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

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Wednesday, May 21st. Marathon Petroleum's dividend payout ratio (DPR) is presently 51.20%.

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.

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