QRG Capital Management Inc. Cuts Stock Holdings in Marathon Petroleum Corporation (NYSE:MPC)

QRG Capital Management Inc. reduced its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 36.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,880 shares of the oil and gas company's stock after selling 33,672 shares during the quarter. QRG Capital Management Inc.'s holdings in Marathon Petroleum were worth $8,433,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sowell Financial Services LLC bought a new position in Marathon Petroleum during the first quarter worth about $1,521,000. Northstar Group Inc. acquired a new position in shares of Marathon Petroleum in the first quarter valued at approximately $221,000. Brown Miller Wealth Management LLC bought a new stake in shares of Marathon Petroleum in the first quarter worth $382,000. Brighton Jones LLC boosted its holdings in Marathon Petroleum by 21.8% in the first quarter. Brighton Jones LLC now owns 6,076 shares of the oil and gas company's stock valued at $885,000 after acquiring an additional 1,088 shares during the last quarter. Finally, Southland Equity Partners LLC increased its position in shares of Marathon Petroleum by 6.2% during the first quarter. Southland Equity Partners LLC now owns 1,549 shares of the oil and gas company's stock worth $226,000 after buying an additional 90 shares during the period. Institutional investors and hedge funds own 76.77% of the company's stock.

Marathon Petroleum Stock Up 0.3%

Marathon Petroleum stock traded up $0.51 during midday trading on Friday, hitting $167.93. 1,119,111 shares of the company were exchanged, compared to its average volume of 2,687,064. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $183.31. The company has a market cap of $51.59 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 3.30 and a beta of 0.89. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 0.73. The company's fifty day moving average price is $150.86 and its 200-day moving average price is $146.77.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings data 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 net margin of 1.75% and a return on equity of 8.89%. Marathon Petroleum's quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.58 earnings per share. On average, research analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend was Wednesday, May 21st. Marathon Petroleum's dividend payout ratio (DPR) is presently 51.20%.

Analyst Upgrades and Downgrades

MPC has been the topic of several research reports. Mizuho upped their price objective on shares of Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Piper Sandler cut their price target on shares of Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. TD Cowen raised their price objective on Marathon Petroleum from $152.00 to $163.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Morgan Stanley dropped their price target on Marathon Petroleum from $175.00 to $160.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Finally, Wells Fargo & Company boosted their target price on Marathon Petroleum from $180.00 to $182.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Marathon Petroleum currently has an average rating of "Moderate Buy" and an average price target of $175.80.

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.