Marathon Petroleum Corporation (NYSE:MPC) Shares Sold by Mutual of America Capital Management LLC

Key Points

• Mutual of America Capital Management LLC decreased its stake in Marathon Petroleum by 4.1%, holding 41,131 shares valued at approximately $5.99 million as of the latest reporting period.
• Marathon Petroleum reported $3.96 EPS for its latest quarter, surpassing estimates, but revenue declined by 11.1% year-over-year, totaling $34.10 billion.
• The company announced a quarterly dividend of $0.91 per share, reflecting a 2.3% yield, with a payout ratio of 51.20%.

Mutual of America Capital Management LLC decreased its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 4.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 41,131 shares of the oil and gas company's stock after selling 1,754 shares during the quarter. Mutual of America Capital Management LLC's holdings in Marathon Petroleum were worth $5,992,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in shares of Marathon Petroleum by 3.7% in the 1st quarter. Bank of New York Mellon Corp now owns 4,982,348 shares of the oil and gas company's stock worth $725,878,000 after purchasing an additional 178,397 shares during the period. Demars Financial Group LLC grew its stake in shares of Marathon Petroleum by 12.8% during the first quarter. Demars Financial Group LLC now owns 4,713,595 shares of the oil and gas company's stock valued at $686,724,000 after buying an additional 536,462 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Marathon Petroleum by 11.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,399,977 shares of the oil and gas company's stock worth $613,624,000 after acquiring an additional 452,043 shares in the last quarter. Northern Trust Corp raised its stake in shares of Marathon Petroleum by 14.0% during the fourth quarter. Northern Trust Corp now owns 3,937,348 shares of the oil and gas company's stock valued at $549,260,000 after acquiring an additional 484,438 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Marathon Petroleum by 14.3% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,571,062 shares of the oil and gas company's stock valued at $219,163,000 after purchasing an additional 196,282 shares during the period. Hedge funds and other institutional investors own 76.77% of the company's stock.

Wall Street Analysts Forecast Growth

MPC has been the subject of a number of research analyst reports. Piper Sandler lifted their target price on Marathon Petroleum from $175.00 to $182.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Wells Fargo & Company lifted their price objective on Marathon Petroleum from $182.00 to $205.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Scotiabank reaffirmed an "outperform" rating on shares of Marathon Petroleum in a research note on Friday, July 11th. Morgan Stanley increased their target price on shares of Marathon Petroleum from $160.00 to $182.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Finally, Evercore ISI started coverage on shares of Marathon Petroleum in a report on Wednesday, June 18th. They issued an "in-line" rating and a $170.00 price target for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $185.29.

Marathon Petroleum Stock Down 0.3%

MPC stock traded down $0.56 on Friday, hitting $160.95. 1,278,171 shares of the company's stock were exchanged, compared to its average volume of 1,963,470. The firm has a 50 day moving average price of $169.25 and a two-hundred day moving average price of $153.70. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $183.10. The stock has a market cap of $48.93 billion, a P/E ratio of 23.88, a price-to-earnings-growth ratio of 2.81 and a beta of 0.90. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.73 and a current ratio of 1.23.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. During the same quarter last year, the company earned $4.12 earnings per share. The company's quarterly revenue was down 11.1% on a year-over-year basis. As a group, equities research analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be paid a dividend of $0.91 per share. The ex-dividend date is Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a yield of 2.3%. Marathon Petroleum's dividend payout ratio is presently 54.01%.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the firm'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 approximately $3,315,200. This trade represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.21% of the company's stock.

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.