Pacer Advisors Inc. Cuts Position in Marathon Petroleum Corporation (NYSE:MPC)

Key Points

• Pacer Advisors Inc. decreased its stake in Marathon Petroleum Corporation (NYSE:MPC) by 1.4%, selling 50,283 shares, now holding approximately $510.26 million worth of the stock.
• The company reported a negative earnings per share of ($0.24) for the last quarter, which was better than analysts' expectations of ($0.40), with total revenue of $31.85 billion.
• Marathon Petroleum announced a quarterly dividend of $0.91 per share, yielding 2.12% annually, with a dividend payout ratio of 51.20%.

Pacer Advisors Inc. lowered its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 1.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,502,372 shares of the oil and gas company's stock after selling 50,283 shares during the period. Marathon Petroleum accounts for 1.2% of Pacer Advisors Inc.'s investment portfolio, making the stock its 12th largest holding. Pacer Advisors Inc. owned 1.12% of Marathon Petroleum worth $510,261,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Fourth Dimension Wealth LLC purchased a new position in Marathon Petroleum during the 4th quarter worth $26,000. CBIZ Investment Advisory Services LLC raised its position in 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 purchased a new position in Marathon Petroleum during the 1st quarter worth $32,000. Decker Retirement Planning Inc. raised its position in 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 buying an additional 227 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in Marathon Petroleum during the 1st quarter worth $35,000. Institutional investors and hedge funds own 76.77% of the company's stock.

Insider Activity

In related news, Director Kim K.W. Rucker sold 7,392 shares of the firm's stock in a transaction that occurred 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 sale, the director directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.25% of the company's stock.

Marathon Petroleum Price Performance

NYSE:MPC traded down $1.13 during mid-day trading on Tuesday, hitting $173.67. 292,968 shares of the company's stock traded hands, compared to its average volume of 2,724,953. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $183.31. The company has a market cap of $53.35 billion, a PE ratio of 24.40, a price-to-earnings-growth ratio of 2.93 and a beta of 0.88. The firm's 50 day simple moving average is $167.90 and its 200 day simple moving average is $152.72. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.73 and a current ratio of 1.19.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.16. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The business had revenue of $31.85 billion for the quarter, compared to analysts' expectations of $28.91 billion. During the same period last year, the company earned $2.58 earnings per share. The company's quarterly revenue was down 4.1% on a year-over-year basis. Sell-side analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were given a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $3.64 annualized dividend and a dividend yield of 2.10%. Marathon Petroleum's dividend payout ratio is presently 51.20%.

Analyst Upgrades and Downgrades

MPC has been the subject of a number of analyst reports. UBS Group upped their price objective on shares of Marathon Petroleum from $175.00 to $203.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Wall Street Zen upgraded shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. TD Cowen increased their price target on shares of Marathon Petroleum from $152.00 to $163.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Barclays increased their price target on shares of Marathon Petroleum from $159.00 to $189.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Finally, Piper Sandler increased their price target on shares of Marathon Petroleum from $175.00 to $182.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $183.93.

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.