Nisa Investment Advisors LLC Sells 12,928 Shares of Marathon Petroleum Corporation (NYSE:MPC)

Nisa Investment Advisors LLC cut its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 6.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 190,090 shares of the oil and gas company's stock after selling 12,928 shares during the period. Nisa Investment Advisors LLC owned about 0.06% of Marathon Petroleum worth $27,694,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Greatmark Investment Partners Inc. raised its holdings in shares of Marathon Petroleum by 3.5% in the 4th quarter. Greatmark Investment Partners Inc. now owns 161,171 shares of the oil and gas company's stock worth $22,483,000 after buying an additional 5,476 shares in the last quarter. TCTC Holdings LLC raised its holdings in shares of Marathon Petroleum by 3.3% in the 4th quarter. TCTC Holdings LLC now owns 91,256 shares of the oil and gas company's stock worth $12,730,000 after buying an additional 2,892 shares in the last quarter. Cambridge Financial Group Inc. acquired a new position in shares of Marathon Petroleum in the 4th quarter worth approximately $5,624,000. Good Steward Wealth Advisors LLC acquired a new position in shares of Marathon Petroleum in the 1st quarter worth approximately $346,000. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Marathon Petroleum in the 4th quarter worth approximately $1,192,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

MPC stock opened at $179.52 on Thursday. The business's 50-day moving average price is $162.09 and its two-hundred day moving average price is $149.26. The company has a current ratio of 1.19, a quick ratio of 0.73 and a debt-to-equity ratio of 1.16. The firm has a market cap of $55.15 billion, a PE ratio of 25.25, a P/E/G ratio of 3.47 and a beta of 0.88. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $183.31.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.16. The firm 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 company's revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.58 earnings per share. As a group, research analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were issued a $0.91 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.03%. Marathon Petroleum's dividend payout ratio (DPR) is 51.20%.

Wall Street Analyst Weigh In

MPC has been the subject of a number of recent analyst reports. TD Cowen raised their price target on Marathon Petroleum from $152.00 to $163.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Wells Fargo & Company raised their price target on Marathon Petroleum from $180.00 to $182.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. Barclays raised their price target on Marathon Petroleum from $141.00 to $159.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Marathon Petroleum in a report on Monday, June 30th. Finally, Scotiabank dropped their price target on Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Marathon Petroleum presently has a consensus rating of "Moderate Buy" and an average price target of $176.13.

Insider Activity at Marathon Petroleum

In related news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction dated 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 sale, the director owned 18,944 shares of the company's stock, valued at approximately $3,315,200. The trade was a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is currently owned by company insiders.

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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