Voleon Capital Management LP Sells 3,026 Shares of Marathon Petroleum Corporation $MPC

Key Points

• Voleon Capital Management LP has sold 3,026 shares of Marathon Petroleum, reducing its stake by 27.9%, now holding 7,806 shares worth approximately $1.14 million.
• Several hedge funds have significantly increased their positions in Marathon Petroleum, with institutional investors now owning 76.77% of the stock.
• Marathon Petroleum recently announced a quarterly dividend of $0.91 per share, reflecting a 2.0% yield, with a payout ratio of 54.01%.

Voleon Capital Management LP cut its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 27.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,806 shares of the oil and gas company's stock after selling 3,026 shares during the quarter. Voleon Capital Management LP's holdings in Marathon Petroleum were worth $1,137,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new position in shares of Marathon Petroleum during the fourth quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC increased its holdings in shares of Marathon Petroleum by 1,546.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company's stock worth $31,000 after purchasing an additional 201 shares during the period. Hughes Financial Services LLC bought a new position in Marathon Petroleum in the first quarter valued at approximately $32,000. WPG Advisers LLC bought a new position in Marathon Petroleum in the first quarter valued at approximately $32,000. Finally, Decker Retirement Planning Inc. increased its stake in Marathon Petroleum by 1,621.4% in the first 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 during the last quarter. 76.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on MPC. Morgan Stanley lifted their price objective on shares of Marathon Petroleum from $160.00 to $182.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Dbs Bank raised shares of Marathon Petroleum to a "moderate buy" rating in a research note on Monday, July 28th. Wall Street Zen raised shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. UBS Group lifted their price objective on shares of Marathon Petroleum from $175.00 to $203.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $200.00 price objective (up from $180.00) on shares of Marathon Petroleum in a research note on Tuesday, July 15th. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $186.57.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $180.98 on Tuesday. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $183.50. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. The firm has a market capitalization of $55.02 billion, a P/E ratio of 26.85, a P/E/G ratio of 3.64 and a beta of 0.97. The company's 50 day moving average price is $172.04 and its two-hundred day moving average price is $156.36.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its earnings results 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. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The firm had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. During the same quarter last year, the business posted $4.12 earnings per share. The company's quarterly revenue was down 11.1% on a year-over-year basis. On average, equities analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Wednesday, August 20th. Marathon Petroleum's payout ratio is 54.01%.

Insiders Place Their Bets

In other 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 transaction of $1,293,600.00. Following the transaction, the director owned 18,944 shares in the company, valued at approximately $3,315,200. The trade was a 28.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction on Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the transaction, the insider owned 28,700 shares in the company, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

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.

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