Marathon Petroleum Corporation (NYSE:MPC) Shares Sold by LGT Group Foundation

LGT Group Foundation decreased its stake in Marathon Petroleum Corporation (NYSE:MPC) by 1.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 72,469 shares of the oil and gas company’s stock after selling 727 shares during the quarter. LGT Group Foundation’s holdings in Marathon Petroleum were worth $10,558,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Fourth Dimension Wealth LLC bought a new position in Marathon Petroleum in the 4th quarter worth $26,000. CBIZ Investment Advisory Services LLC raised its stake in shares of Marathon Petroleum by 1,546.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 201 shares during the last quarter. Hughes Financial Services LLC bought a new position in shares of Marathon Petroleum in the first quarter worth about $32,000. Decker Retirement Planning Inc. raised 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 buying an additional 227 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC bought a new position in shares of Marathon Petroleum during the first quarter worth $35,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MPC. Mizuho upped their price target on shares of Marathon Petroleum from $168.00 to $184.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. Morgan Stanley raised their target price on shares of Marathon Petroleum from $160.00 to $182.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Raymond James Financial reiterated an “outperform” rating and set a $200.00 target price (up from $180.00) on shares of Marathon Petroleum in a research report on Tuesday, July 15th. TD Cowen dropped their price target on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Finally, Dbs Bank upgraded shares of Marathon Petroleum to a “moderate buy” rating in a report on Monday, July 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $185.29.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $158.61 on Tuesday. The company has a 50-day moving average price of $169.25 and a two-hundred day moving average price of $153.78. 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 Corporation has a twelve month low of $115.10 and a twelve month high of $183.10. The firm has a market capitalization of $48.22 billion, a PE ratio of 23.53, a P/E/G ratio of 2.88 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $31.70 billion. During the same period last year, the firm posted $4.12 earnings per share. The business’s revenue was down 11.1% compared to the same quarter last year. Equities analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be given a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a yield of 2.3%. 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 the company’s stock in a transaction dated 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 completion of the sale, the director owned 18,944 shares of the company’s stock, valued at $3,315,200. This represents a 28.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.25% of the company’s stock.

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.