Concurrent Investment Advisors LLC Sells 2,192 Shares of Marathon Petroleum Corporation (NYSE:MPC)

Concurrent Investment Advisors LLC lowered its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 12.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 16,054 shares of the oil and gas company’s stock after selling 2,192 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Marathon Petroleum were worth $2,339,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Wellington Management Group LLP increased its position in shares of Marathon Petroleum by 78.1% during the 4th quarter. Wellington Management Group LLP now owns 9,961,503 shares of the oil and gas company’s stock valued at $1,389,630,000 after purchasing an additional 4,367,774 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Marathon Petroleum by 3.7% during the 1st quarter. Bank of New York Mellon Corp now owns 4,982,348 shares of the oil and gas company’s stock valued at $725,878,000 after purchasing an additional 178,397 shares during the last quarter. Demars Financial Group LLC increased its position in shares of Marathon Petroleum by 12.8% during the 1st quarter. Demars Financial Group LLC now owns 4,713,595 shares of the oil and gas company’s stock valued at $686,724,000 after purchasing an additional 536,462 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Marathon Petroleum by 11.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,399,977 shares of the oil and gas company’s stock valued at $613,624,000 after purchasing an additional 452,043 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Marathon Petroleum by 14.0% during the 4th quarter. Northern Trust Corp now owns 3,937,348 shares of the oil and gas company’s stock valued at $549,260,000 after purchasing an additional 484,438 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

MPC has been the subject of a number of recent analyst reports. Barclays boosted their price objective on Marathon Petroleum from $141.00 to $159.00 and gave the company an “overweight” rating in a report on Monday, May 12th. Wall Street Zen upgraded Marathon Petroleum from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Scotiabank dropped their price objective on Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating for the company in a report on Friday, April 11th. Wells Fargo & Company boosted their price objective on Marathon Petroleum from $180.00 to $182.00 and gave the company an “overweight” rating in a report on Wednesday, June 11th. Finally, Morgan Stanley dropped their price objective on Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $176.13.

Marathon Petroleum Price Performance

Shares of MPC stock opened at $172.01 on Monday. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $183.31. The stock has a market capitalization of $52.84 billion, a price-to-earnings ratio of 24.19, a P/E/G ratio of 3.46 and a beta of 0.88. The stock has a fifty day simple moving average of $159.64 and a two-hundred day simple moving average of $148.53. The company has a current ratio of 1.19, a quick ratio of 0.73 and a debt-to-equity ratio of 1.16.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.16. The firm had revenue of $31.85 billion during the quarter, compared to analyst estimates of $28.91 billion. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.58 EPS. On average, analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared 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 2.12%. The ex-dividend date was Wednesday, May 21st. 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.