Quarry LP Has $996,000 Stake in Marathon Petroleum Corporation $MPC

Key Points

• Quarry LP has reduced its stake in Marathon Petroleum Corporation by 27.2% to 6,839 shares, now valued at $996,000.
• Several institutional investors have increased their holdings in Marathon Petroleum, with Vanguard Group boosting its position by 12.3% and Boston Partners raising its stake by 58.5% in the first quarter.
• Analysts have revised their target prices for Marathon Petroleum, with UBS raising it from $175.00 to $203.00 and Wells Fargo from $182.00 to $205.00, reflecting an overall positive outlook.

Quarry LP reduced its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 27.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,839 shares of the oil and gas company's stock after selling 2,558 shares during the period. Quarry LP's holdings in Marathon Petroleum were worth $996,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in MPC. Vanguard Group Inc. boosted its position in Marathon Petroleum by 12.3% in the first quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company's stock valued at $5,090,611,000 after buying an additional 3,834,501 shares in the last quarter. Boston Partners raised its stake in shares of Marathon Petroleum by 58.5% during the first quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company's stock worth $791,274,000 after buying an additional 2,011,810 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Marathon Petroleum by 18.7% during the first quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company's stock worth $1,722,664,000 after buying an additional 1,862,674 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Marathon Petroleum by 14,969.1% during the first quarter. GAMMA Investing LLC now owns 1,540,963 shares of the oil and gas company's stock worth $224,503,000 after buying an additional 1,530,737 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Marathon Petroleum in the 1st quarter valued at $147,122,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Citigroup upped their price objective on shares of Marathon Petroleum from $144.00 to $182.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Piper Sandler raised their target price on shares of Marathon Petroleum from $175.00 to $182.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Scotiabank reiterated an "outperform" rating on shares of Marathon Petroleum in a research note on Friday, July 11th. UBS Group increased their price target on shares of Marathon Petroleum from $175.00 to $203.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Finally, Wells Fargo & Company increased their price objective on shares of Marathon Petroleum from $182.00 to $205.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Eight investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $185.29.

Marathon Petroleum Trading Up 0.3%

MPC opened at $179.79 on Friday. The company's 50 day moving average is $170.44 and its 200-day moving average is $155.39. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $183.10. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. The company has a market cap of $54.66 billion, a P/E ratio of 26.67, a PEG ratio of 3.27 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, beating analysts' consensus estimates of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The company had revenue of $34.10 billion for the quarter, compared to the consensus estimate of $31.70 billion. During the same period last year, the company posted $4.12 EPS. The firm's quarterly revenue was down 11.1% compared to the same quarter last year. Equities research analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th will be given a dividend of $0.91 per share. The ex-dividend date is Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 2.0%. Marathon Petroleum's dividend payout ratio (DPR) is currently 54.01%.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum 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 transaction of $1,293,600.00. Following the completion of the transaction, the director owned 18,944 shares in the company, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Molly R. Benson sold 10,879 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the transaction, the insider owned 28,700 shares of the company's stock, valued at approximately $4,678,100. The trade was a 27.49% decrease in their position. The disclosure for this sale can be found here. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.