Marathon Petroleum Corporation (NYSE:MPC) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 10.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 727,214 shares of the oil and gas company's stock after selling 81,426 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.23% of Marathon Petroleum worth $105,948,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MPC. Fourth Dimension Wealth LLC purchased a new stake in shares of Marathon Petroleum in the fourth quarter valued at about $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in Marathon Petroleum during the fourth quarter worth about $27,000. Decker Retirement Planning Inc. lifted its stake in Marathon Petroleum by 1,621.4% in the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock valued at $35,000 after buying an additional 227 shares in the last quarter. Cape Investment Advisory Inc. boosted its stake in shares of Marathon Petroleum by 762.9% during the fourth quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company's stock valued at $42,000 after acquiring an additional 267 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new stake in shares of Marathon Petroleum during the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 76.77% of the company's stock.

Marathon Petroleum Stock Up 2.6%

Marathon Petroleum stock traded up $4.47 during midday trading on Wednesday, hitting $174.42. 1,555,504 shares of the company were exchanged, compared to its average volume of 2,709,322. The company's fifty day moving average price is $158.26 and its 200-day moving average price is $147.85. 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 debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 0.73. The company has a market cap of $53.58 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 3.34 and a beta of 0.88.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) 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 the consensus estimate of $28.91 billion. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The firm's quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.58 EPS. On average, research analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend was Wednesday, May 21st. Marathon Petroleum's dividend payout ratio is currently 51.20%.

Analyst Ratings Changes

A number of brokerages have weighed in on MPC. Evercore ISI initiated coverage on Marathon Petroleum in a research note on Wednesday, June 18th. They set an "in-line" rating and a $170.00 price target on the stock. Piper Sandler reduced their target price on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Wells Fargo & Company lifted their price target on Marathon Petroleum from $180.00 to $182.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. Wall Street Zen raised shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Morgan Stanley decreased their target price on shares of Marathon Petroleum from $175.00 to $160.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $176.13.

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.