White Pine Investment CO Lowers Stake in Marathon Petroleum Corporation $MPC

Key Points

• White Pine Investment CO reduced its stake in Marathon Petroleum by 2.8%, now holding 52,725 shares valued at approximately $8.76 million, making it the 17th largest position in their portfolio.
• Multiple institutional investors have increased their stakes in Marathon Petroleum, with notable increases from CBIZ Investment Advisory Services (1,546.2%) and Decker Retirement Planning Inc. (1,621.4%) in the first quarter.
• Marathon Petroleum reported earnings of $3.96 per share for the last quarter, exceeding expectations, but its revenue was down 11.1% year-over-year, and the company also announced a quarterly dividend of $0.91 per share.

White Pine Investment CO lessened its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 2.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,725 shares of the oil and gas company's stock after selling 1,491 shares during the quarter. Marathon Petroleum accounts for 2.2% of White Pine Investment CO's investment portfolio, making the stock its 17th biggest position. White Pine Investment CO's holdings in Marathon Petroleum were worth $8,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. CBIZ Investment Advisory Services LLC lifted its stake 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 in the last quarter. Hughes Financial Services LLC acquired a new position in shares of Marathon Petroleum during the first quarter worth about $32,000. WPG Advisers LLC acquired a new position in shares of Marathon Petroleum during the first quarter worth about $32,000. Decker Retirement Planning Inc. lifted its stake in shares of Marathon Petroleum by 1,621.4% during the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock worth $35,000 after purchasing an additional 227 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Marathon Petroleum during the first quarter worth about $35,000. Institutional investors and hedge funds own 76.77% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Dbs Bank upgraded Marathon Petroleum to a "moderate buy" rating in a research note on Monday, July 28th. Raymond James Financial boosted their price target on Marathon Petroleum from $195.00 to $199.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 9th. BMO Capital Markets boosted their price target on Marathon Petroleum from $195.00 to $208.00 and gave the stock an "outperform" rating in a research note on Monday, September 22nd. Wells Fargo & Company boosted their price target on Marathon Petroleum from $182.00 to $205.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, UBS Group boosted their price target on Marathon Petroleum from $203.00 to $220.00 and gave the stock a "buy" rating in a research note on Friday. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, Marathon Petroleum has a consensus rating of "Moderate Buy" and an average target price of $195.00.

Insider Activity at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 7,392 shares of the company's stock in a transaction that occurred 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 transaction, the director directly owned 18,944 shares of the company's stock, valued at approximately $3,315,200. This represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Molly R. Benson sold 10,879 shares of the company's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the transaction, the insider directly owned 28,700 shares of the company's stock, valued at $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Marathon Petroleum Trading Down 1.1%

Shares of NYSE MPC opened at $196.50 on Tuesday. The stock's 50 day moving average price is $175.52 and its two-hundred day moving average price is $161.09. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $201.61. The stock has a market capitalization of $59.74 billion, a P/E ratio of 29.15, a PEG ratio of 3.44 and a beta of 0.97. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The firm had revenue of $34.10 billion for the quarter, compared to analysts' expectations of $31.70 billion. During the same quarter in the prior year, the firm posted $4.12 earnings per share. Marathon Petroleum's revenue for the quarter was down 11.1% compared to the same quarter last year. On average, analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 annualized dividend and a dividend yield of 1.9%. Marathon Petroleum's dividend payout ratio is 54.01%.

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.

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