Brandywine Global Investment Management LLC Reduces Stock Position in Marathon Petroleum Corporation $MPC

Key Points

• Brandywine Global Investment Management LLC reduced its stake in Marathon Petroleum by 23.3%, selling 90,641 shares and now owns approximately 0.10% of the company valued at $43.57 million.
• Marathon Petroleum announced a quarterly dividend of $0.91, with a dividend yield of 2.2%, and has a current dividend payout ratio of 54.01%.
• Analysts have mixed views on the stock, with price target adjustments ranging from $160 to $200, resulting in a consensus target price of $185.29 and an average rating of "Hold."

Brandywine Global Investment Management LLC lowered its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 23.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 299,071 shares of the oil and gas company's stock after selling 90,641 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.10% of Marathon Petroleum worth $43,572,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of MPC. Fourth Dimension Wealth LLC acquired a new position in shares of Marathon Petroleum during the fourth quarter worth about $26,000. CBIZ Investment Advisory Services LLC boosted its stake in shares of Marathon Petroleum by 1,546.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company's stock worth $31,000 after buying an additional 201 shares during the last quarter. Hughes Financial Services LLC acquired a new stake in shares of Marathon Petroleum in the first quarter valued at about $32,000. Decker Retirement Planning Inc. increased its position in shares of Marathon Petroleum by 1,621.4% during the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock worth $35,000 after purchasing an additional 227 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Marathon Petroleum during the 1st quarter worth about $35,000. Institutional investors and hedge funds own 76.77% of the company's stock.

Marathon Petroleum Trading Up 1.0%

Shares of Marathon Petroleum stock traded up $1.5870 during trading on Tuesday, hitting $164.2570. The company's stock had a trading volume of 1,941,127 shares, compared to its average volume of 2,636,999. The stock has a market cap of $49.94 billion, a price-to-earnings ratio of 24.37, a price-to-earnings-growth ratio of 2.95 and a beta of 0.90. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $183.10. The stock has a 50-day moving average price of $169.47 and a two-hundred day moving average price of $154.19.

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

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th will be issued a dividend of $0.91 per share. The ex-dividend date is Wednesday, August 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.2%. Marathon Petroleum's payout ratio is currently 54.01%.

Insider Buying and Selling

In related news, insider Molly R. Benson sold 10,879 shares of the firm's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the transaction, the insider directly owned 28,700 shares of the company's stock, valued at $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kim K.W. Rucker sold 7,392 shares of the company's 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 transaction, the director owned 18,944 shares of the company's stock, valued at $3,315,200. This trade represents a 28.07% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Barclays upped their price objective on Marathon Petroleum from $159.00 to $189.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Dbs Bank raised Marathon Petroleum to a "moderate buy" rating in a report on Monday, July 28th. Morgan Stanley lifted their price objective on shares of Marathon Petroleum from $160.00 to $182.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Evercore ISI began coverage on Marathon Petroleum in a report on Wednesday, June 18th. They issued an "in-line" rating and a $170.00 price objective for the company. Finally, Mizuho raised their price target on Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. 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 data from MarketBeat, Marathon Petroleum currently has a consensus rating of "Hold" and a consensus target price of $185.29.

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.