North Point Portfolio Managers Corp OH Has $15.53 Million Stake in Marathon Petroleum Corporation $MPC

Key Points

• North Point Portfolio Managers Corp OH cut its Marathon Petroleum stake by 16% in the first quarter, but still held 63,596 shares worth about $15.53 million. Marathon Petroleum remained a meaningful position, representing 2.8% of the firm’s portfolio.
• Marathon Petroleum reported better-than-expected quarterly earnings of $1.65 per share versus $0.74 expected, along with revenue of $34.2 billion that topped estimates and rose 8.5% from a year earlier.
• The company also paid a $1.00 quarterly dividend, annualizing to $4.00 per share for a 1.6% yield. Meanwhile, analysts remain generally constructive, with a consensus rating of Moderate Buy and an average price target of $272.62.

North Point Portfolio Managers Corp OH trimmed its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 16.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,596 shares of the oil and gas company's stock after selling 12,071 shares during the quarter. Marathon Petroleum accounts for 2.8% of North Point Portfolio Managers Corp OH's portfolio, making the stock its 13th largest position. North Point Portfolio Managers Corp OH's holdings in Marathon Petroleum were worth $15,529,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Sawyer & Company Inc acquired a new position in Marathon Petroleum in the 1st quarter valued at approximately $49,000. SMART Wealth LLC acquired a new stake in shares of Marathon Petroleum during the 1st quarter valued at $231,000. Premier Path Wealth Partners LLC boosted its stake in shares of Marathon Petroleum by 9.2% during the 1st quarter. Premier Path Wealth Partners LLC now owns 2,028 shares of the oil and gas company's stock valued at $495,000 after buying an additional 171 shares during the period. Caliber Wealth Management LLC KS grew its holdings in shares of Marathon Petroleum by 1.2% during the 1st quarter. Caliber Wealth Management LLC KS now owns 20,653 shares of the oil and gas company's stock valued at $5,043,000 after acquiring an additional 248 shares in the last quarter. Finally, Mayflower Financial Advisors LLC purchased a new position in shares of Marathon Petroleum during the 1st quarter valued at $207,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Trading Down 1.5%

Shares of NYSE:MPC opened at $255.24 on Wednesday. The stock has a market capitalization of $74.51 billion, a PE ratio of 16.66, a P/E/G ratio of 0.40 and a beta of 0.52. Marathon Petroleum Corporation has a 1 year low of $158.00 and a 1 year high of $272.46. The firm has a fifty day moving average price of $249.29 and a 200 day moving average price of $217.48. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The company had revenue of $34.20 billion for the quarter, compared to analyst estimates of $33.42 billion. During the same period last year, the company earned ($0.24) earnings per share. The business's revenue was up 8.5% compared to the same quarter last year. Analysts expect that Marathon Petroleum Corporation will post 31.35 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Wednesday, May 20th. Marathon Petroleum's dividend payout ratio (DPR) is presently 26.11%.

Insider Buying and Selling at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of the business's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the sale, the vice president directly owned 16,900 shares in the company, valued at approximately $4,543,058. The trade was a 27.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.17% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MPC. TD Cowen cut their price objective on Marathon Petroleum from $320.00 to $315.00 and set a "buy" rating for the company in a report on Monday. Mizuho boosted their target price on Marathon Petroleum from $224.00 to $284.00 and gave the company a "neutral" rating in a research note on Wednesday, May 27th. JPMorgan Chase & Co. upped their target price on Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Marathon Petroleum in a research note on Friday, June 12th. Finally, Barclays lifted their price target on Marathon Petroleum from $230.00 to $270.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Ten research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $272.62.

About Marathon Petroleum

Marathon Petroleum Corporation NYSE: MPC is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum's operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.

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