Resurgent Financial Advisors LLC Decreases Stock Holdings in Marathon Petroleum Corporation (NYSE:MPC)

Resurgent Financial Advisors LLC cut its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 25.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,564 shares of the oil and gas company's stock after selling 2,198 shares during the period. Resurgent Financial Advisors LLC's holdings in Marathon Petroleum were worth $956,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP grew its position in Marathon Petroleum by 78.1% in the 4th quarter. Wellington Management Group LLP now owns 9,961,503 shares of the oil and gas company's stock worth $1,389,630,000 after purchasing an additional 4,367,774 shares in the last quarter. Bank of New York Mellon Corp grew its position in Marathon Petroleum by 3.7% in the 1st quarter. Bank of New York Mellon Corp now owns 4,982,348 shares of the oil and gas company's stock worth $725,878,000 after purchasing an additional 178,397 shares in the last quarter. Demars Financial Group LLC grew its position in Marathon Petroleum by 12.8% in the 1st quarter. Demars Financial Group LLC now owns 4,713,595 shares of the oil and gas company's stock worth $686,724,000 after purchasing an additional 536,462 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Marathon Petroleum by 11.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,399,977 shares of the oil and gas company's stock worth $613,624,000 after purchasing an additional 452,043 shares in the last quarter. Finally, Northern Trust Corp grew its position in Marathon Petroleum by 14.0% in the 4th quarter. Northern Trust Corp now owns 3,937,348 shares of the oil and gas company's stock worth $549,260,000 after purchasing an additional 484,438 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum 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 in the company, valued at $3,315,200. This trade represents a 28.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Evercore ISI assumed coverage on shares of Marathon Petroleum in a research report on Wednesday, June 18th. They issued an "in-line" rating and a $170.00 price objective for the company. UBS Group increased their target price on shares of Marathon Petroleum from $175.00 to $203.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. Citigroup increased their target price on shares of Marathon Petroleum from $144.00 to $182.00 and gave the company a "neutral" rating in a research report on Wednesday. Morgan Stanley upped their price target on shares of Marathon Petroleum from $160.00 to $182.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Wall Street Zen upgraded shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Marathon Petroleum presently has an average rating of "Hold" and an average target price of $183.43.

Marathon Petroleum Price Performance

Shares of Marathon Petroleum stock traded up $0.17 on Friday, hitting $174.34. 2,623,698 shares of the company traded hands, compared to its average volume of 2,710,257. The firm's 50-day simple moving average is $166.52 and its 200 day simple moving average is $151.30. 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 company has a market cap of $53.56 billion, a P/E ratio of 24.52, a P/E/G ratio of 3.27 and a beta of 0.88. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $183.31.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, topping analysts' consensus estimates of ($0.40) by $0.16. The company had revenue of $31.85 billion for the quarter, compared to analysts' expectations of $28.91 billion. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The firm's revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.58 EPS. Analysts expect 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 was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date was Wednesday, May 21st. Marathon Petroleum's payout ratio is presently 51.20%.

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.