Marathon Petroleum Corporation (NYSE:MPC) Shares Sold by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors LLC reduced its stake in Marathon Petroleum by 20.4%, now holding shares valued at approximately $992,000.
• Marathon Petroleum's shares received increased price targets from several brokerages, with UBS raising theirs to $203.00 and Mizuho to $184.00.
• The company declared a quarterly dividend of $0.91 per share, yielding 2.3%, with the ex-dividend date set for August 20th.

New Age Alpha Advisors LLC lowered its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 20.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,806 shares of the oil and gas company's stock after selling 1,742 shares during the quarter. New Age Alpha Advisors LLC's holdings in Marathon Petroleum were worth $992,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of MPC. Bank of New York Mellon Corp increased its stake in shares of Marathon Petroleum by 3.7% during the first 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 buying an additional 178,397 shares during the period. Demars Financial Group LLC increased its stake in Marathon Petroleum by 12.8% in 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 purchasing an additional 536,462 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Marathon Petroleum by 11.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,399,977 shares of the oil and gas company's stock valued at $613,624,000 after purchasing an additional 452,043 shares during the last quarter. Northern Trust Corp increased its stake in Marathon Petroleum by 14.0% in 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 purchasing an additional 484,438 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in 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 last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related 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 stock was sold at an average price of $175.00, for a total value of $1,293,600.00. Following the completion of the sale, the director directly owned 18,944 shares in the company, valued at approximately $3,315,200. The trade was a 28.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.21% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on MPC. UBS Group increased their price target on shares of Marathon Petroleum from $175.00 to $203.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. 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. Piper Sandler increased their price objective on Marathon Petroleum from $175.00 to $182.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Dbs Bank raised Marathon Petroleum to a "moderate buy" rating in a report on Monday, July 28th. Finally, Mizuho increased their price objective on Marathon Petroleum from $168.00 to $184.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $185.29.

Marathon Petroleum Stock Performance

Shares of MPC opened at $161.55 on Friday. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $183.10. The company has a 50-day moving average of $169.24 and a two-hundred day moving average of $153.63. The stock has a market cap of $49.63 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 2.77 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 0.73.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, beating 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 company had revenue of $34.10 billion for the quarter, compared to analysts' expectations of $31.70 billion. During the same quarter in the previous year, the business posted $4.12 EPS. The business's revenue for the quarter was down 11.1% on a year-over-year basis. On average, equities research analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently declared 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. This represents a $3.64 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Wednesday, August 20th. Marathon Petroleum's payout ratio is currently 54.01%.

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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