Marathon Petroleum Corporation (NYSE:MPC) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. cut its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 8.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 121,641 shares of the oil and gas company's stock after selling 11,733 shares during the period. Oppenheimer & Co. Inc.'s holdings in Marathon Petroleum were worth $17,722,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Oppenheimer Asset Management Inc. grew its position 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 valued at $6,467,000 after acquiring an additional 3,291 shares during the period. TrueMark Investments LLC purchased a new stake in shares of Marathon Petroleum during the 1st quarter worth about $248,000. Avantra Family Wealth Inc. increased its position in Marathon Petroleum by 2.6% during the 1st quarter. Avantra Family Wealth Inc. now owns 8,745 shares of the oil and gas company's stock worth $1,274,000 after purchasing an additional 224 shares in the last quarter. LVZ Inc. lifted its position in Marathon Petroleum by 19.9% during the first quarter. LVZ Inc. now owns 3,927 shares of the oil and gas company's stock valued at $572,000 after buying an additional 651 shares in the last quarter. Finally, North Point Portfolio Managers Corp OH grew its stake in Marathon Petroleum by 1.2% during the first quarter. North Point Portfolio Managers Corp OH now owns 77,077 shares of the oil and gas company's stock worth $11,229,000 after buying an additional 923 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Stock Up 0.9%

Shares of Marathon Petroleum stock opened at $168.93 on Monday. The business has a 50-day moving average price of $151.77 and a 200 day moving average price of $146.81. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $183.31. The firm has a market cap of $51.90 billion, a P/E ratio of 23.76, a P/E/G ratio of 3.34 and a beta of 0.89. 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 quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.16. The business had revenue of $31.85 billion for 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 posted $2.58 EPS. On average, sell-side analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Wednesday, May 21st. Marathon Petroleum's dividend payout ratio is presently 51.20%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MPC. Barclays raised their target price on shares of Marathon Petroleum from $141.00 to $159.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. Wall Street Zen raised Marathon Petroleum from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Evercore ISI started coverage on Marathon Petroleum in a research report on Wednesday, June 18th. They issued an "in-line" rating and a $170.00 target price for the company. TD Cowen increased their target price on Marathon Petroleum from $152.00 to $163.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Finally, Raymond James Financial reduced their price target on Marathon Petroleum from $193.00 to $183.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $175.80.

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.

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