Victory Capital Management Inc. Sells 46,682 Shares of Marathon Petroleum Corporation (NYSE:MPC)

Victory Capital Management Inc. lowered its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 10.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 391,588 shares of the oil and gas company's stock after selling 46,682 shares during the period. Victory Capital Management Inc. owned 0.13% of Marathon Petroleum worth $57,050,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Cambridge Financial Group Inc. acquired a new position in Marathon Petroleum in the fourth quarter valued at $5,624,000. Good Steward Wealth Advisors LLC bought a new stake in shares of Marathon Petroleum during the first quarter worth about $346,000. New Age Alpha Advisors LLC bought a new stake in shares of Marathon Petroleum during the fourth quarter worth about $1,192,000. Silver Oak Securities Incorporated bought a new stake in shares of Marathon Petroleum during the first quarter worth about $339,000. Finally, Financial Partners Group LLC increased its position in shares of Marathon Petroleum by 65.8% during the first quarter. Financial Partners Group LLC now owns 3,937 shares of the oil and gas company's stock worth $574,000 after acquiring an additional 1,563 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company's stock.

Insider Activity

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 stock was sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the completion of the sale, the director directly owned 18,944 shares of the company's stock, valued at $3,315,200. This represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Evercore ISI assumed coverage on shares of 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. 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 report on Wednesday. Raymond James Financial lowered shares of Marathon Petroleum from a "strong-buy" rating to an "outperform" rating and increased their target price for the company from $180.00 to $200.00 in a report on Tuesday. Piper Sandler reissued a "neutral" rating and set a $175.00 price target (up previously from $157.00) on shares of Marathon Petroleum in a research report on Thursday, July 10th. Finally, Mizuho raised their target price on shares of Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Marathon Petroleum has an average rating of "Hold" and an average price target of $183.43.

Marathon Petroleum Trading Up 0.1%

Shares of NYSE MPC traded up $0.17 during trading on Friday, hitting $174.34. 2,623,698 shares of the company were exchanged, compared to its average volume of 2,710,257. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.73 and a current ratio of 1.19. The firm has a market capitalization of $53.56 billion, a PE ratio of 24.52, a P/E/G ratio of 3.27 and a beta of 0.88. The company has a fifty day moving average price of $166.52 and a 200-day moving average price of $151.21. 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 posted its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.16. The company had revenue of $31.85 billion during the quarter, compared to analysts' expectations of $28.91 billion. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The firm's revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.58 EPS. As a group, equities research analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

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

Marathon Petroleum 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.