Marathon Petroleum Co. (NYSE:MPC) Shares Sold by CX Institutional

CX Institutional cut its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 74.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,946 shares of the oil and gas company’s stock after selling 32,634 shares during the quarter. CX Institutional’s holdings in Marathon Petroleum were worth $1,595,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fourth Dimension Wealth LLC acquired a new position in Marathon Petroleum during the fourth quarter worth $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Marathon Petroleum in the fourth quarter worth $27,000. Asset Planning Inc acquired a new position in shares of Marathon Petroleum in the fourth quarter worth $28,000. Sierra Ocean LLC acquired a new position in shares of Marathon Petroleum in the fourth quarter worth $31,000. Finally, Cape Investment Advisory Inc. raised its holdings in shares of Marathon Petroleum by 762.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 267 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Price Performance

MPC stock opened at $164.71 on Thursday. The stock has a 50-day moving average price of $145.66 and a two-hundred day moving average price of $146.32. Marathon Petroleum Co. has a 12-month low of $115.10 and a 12-month high of $183.31. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The company has a market cap of $50.60 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 3.11 and a beta of 0.89.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The firm had revenue of $31.85 billion during the quarter, compared to the consensus estimate of $28.91 billion. During the same quarter in the previous year, the business earned $2.58 earnings per share. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, research analysts predict that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Wednesday, May 21st. Marathon Petroleum’s payout ratio is 51.20%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Barclays boosted their price target on Marathon Petroleum from $141.00 to $159.00 and gave the stock an “overweight” rating in a report on Monday, May 12th. Wells Fargo & Company upped their target price on Marathon Petroleum from $180.00 to $182.00 and gave the company an “overweight” rating in a research note on Wednesday. Scotiabank dropped their target price on Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating for the company in a research note on Friday, April 11th. Wall Street Zen upgraded Marathon Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Finally, TD Cowen upped their target price on Marathon Petroleum from $152.00 to $163.00 and gave the company a “buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $176.21.

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.