Venture Visionary Partners LLC Sells 56,784 Shares of Marathon Petroleum Corporation $MPC

Key Points

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Venture Visionary Partners LLC cut its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 50.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 56,392 shares of the oil and gas company's stock after selling 56,784 shares during the period. Venture Visionary Partners LLC's holdings in Marathon Petroleum were worth $8,216,000 at the end of the most recent reporting period.

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

Marathon Petroleum Price Performance

Shares of Marathon Petroleum stock traded up $5.5890 during trading on Friday, reaching $170.5290. 1,733,969 shares of the stock traded hands, compared to its average volume of 1,667,704. The company has a market capitalization of $51.84 billion, a price-to-earnings ratio of 25.30, a P/E/G ratio of 3.00 and a beta of 0.90. The business has a fifty day simple moving average of $169.60 and a two-hundred day simple moving average of $154.56. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $183.10.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $34.10 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the business posted $4.12 earnings per share. Sell-side analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th will be issued a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.1%. Marathon Petroleum's dividend payout ratio (DPR) is presently 54.01%.

Insider Transactions at Marathon Petroleum

In related news, Director Kim K.W. Rucker sold 7,392 shares of the stock in a transaction dated 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 completion of the transaction, the director owned 18,944 shares of the company's stock, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Molly R. Benson sold 10,879 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the transaction, the insider directly 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.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MPC shares. Wells Fargo & Company boosted 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. Scotiabank reiterated an "outperform" rating on shares of Marathon Petroleum in a research note on Friday, July 11th. Morgan Stanley increased their price target on Marathon Petroleum from $160.00 to $182.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Piper Sandler increased their price target on Marathon Petroleum from $175.00 to $182.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Citigroup increased their price target on Marathon Petroleum from $144.00 to $182.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Eight investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Marathon Petroleum currently has a consensus rating of "Hold" and an average target price of $185.29.

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.