Redwood Investment Management LLC Sells 2,246 Shares of Marathon Petroleum Corporation $MPC

Key Points

• Redwood Investment Management LLC sold 2,246 shares of Marathon Petroleum Corporation, reducing its holdings by 7.9% to 26,099 shares valued at approximately $3.8 million.
• Several institutional investors, including Freedom Investment Management Inc. and Jump Financial LLC, have recently increased their stakes in Marathon Petroleum, indicating strong interest from larger financial entities.
• Marathon Petroleum's recent earnings report showed a positive surprise, with earnings per share of $3.96 compared to analyst estimates of $3.22, despite a year-over-year revenue decline of 11.1%.

Redwood Investment Management LLC lessened its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 7.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,099 shares of the oil and gas company's stock after selling 2,246 shares during the period. Redwood Investment Management LLC's holdings in Marathon Petroleum were worth $3,802,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fourth Dimension Wealth LLC bought a new position in shares of Marathon Petroleum in the 4th quarter valued at $26,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of 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 valued at $31,000 after acquiring an additional 201 shares in the last quarter. Hughes Financial Services LLC acquired a new stake in shares of Marathon Petroleum during the 1st quarter valued at $32,000. Decker Retirement Planning Inc. boosted its holdings in shares of 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 valued at $35,000 after acquiring an additional 227 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Marathon Petroleum during the 1st quarter valued at $35,000. Institutional investors own 76.77% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Wall Street Zen raised Marathon Petroleum from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Citigroup boosted their target price on Marathon Petroleum from $144.00 to $182.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Wells Fargo & Company boosted their price objective on Marathon Petroleum from $182.00 to $205.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Barclays boosted their price objective on Marathon Petroleum from $159.00 to $189.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Finally, Dbs Bank raised Marathon Petroleum to a "moderate buy" rating in a report on Monday, July 28th. Eight analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $185.29.

Marathon Petroleum Stock Performance

Marathon Petroleum stock traded up $0.49 during trading on Friday, hitting $179.79. The stock had a trading volume of 1,753,792 shares, compared to its average volume of 1,843,214. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $183.10. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The stock's 50 day moving average is $170.44 and its two-hundred day moving average is $155.34. The stock has a market cap of $54.66 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 3.26 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.74. The firm had revenue of $34.10 billion for the quarter, compared to the consensus estimate of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The business's quarterly revenue was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.12 earnings per share. As a group, analysts predict 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 will be paid on Wednesday, September 10th. Shareholders 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 dividend yield of 2.0%. Marathon Petroleum's dividend payout ratio is currently 54.01%.

Insider Buying and Selling at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 7,392 shares of the company's stock in a transaction 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 transaction, the director owned 18,944 shares of the company's stock, valued at approximately $3,315,200. This represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Molly R. Benson sold 10,879 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the transaction, the insider directly owned 28,700 shares in the company, valued at approximately $4,678,100. This represents a 27.49% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.

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.