Flputnam Investment Management Co. Sells 832 Shares of Marathon Petroleum Corporation $MPC

Flputnam Investment Management Co. reduced its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 8.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,609 shares of the oil and gas company’s stock after selling 832 shares during the period. Flputnam Investment Management Co.’s holdings in Marathon Petroleum were worth $1,254,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Beverly Hills Private Wealth LLC lifted its position in shares of Marathon Petroleum by 1.2% during the fourth quarter. Beverly Hills Private Wealth LLC now owns 6,655 shares of the oil and gas company’s stock valued at $928,000 after purchasing an additional 76 shares in the last quarter. Sunpointe LLC lifted its position in shares of Marathon Petroleum by 5.1% during the first quarter. Sunpointe LLC now owns 1,681 shares of the oil and gas company’s stock valued at $245,000 after purchasing an additional 81 shares in the last quarter. Valmark Advisers Inc. raised its position in Marathon Petroleum by 2.3% in the first quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company’s stock worth $554,000 after acquiring an additional 86 shares during the period. Southland Equity Partners LLC raised its position in Marathon Petroleum by 6.2% in the first quarter. Southland Equity Partners LLC now owns 1,549 shares of the oil and gas company’s stock worth $226,000 after acquiring an additional 90 shares during the period. Finally, Prudent Man Advisors LLC raised its position in Marathon Petroleum by 2.3% in the first quarter. Prudent Man Advisors LLC now owns 4,056 shares of the oil and gas company’s stock worth $591,000 after acquiring an additional 91 shares during the period. 76.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wall Street Zen raised shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Citigroup lifted their price objective on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. UBS Group lifted their price objective on shares of Marathon Petroleum from $175.00 to $203.00 and gave the stock a “buy” rating in a research report on Thursday, July 10th. Mizuho lifted their price objective on shares of Marathon Petroleum from $168.00 to $184.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 13th. Finally, TD Cowen lowered their price objective 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. Eight equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $185.29.

Insider Activity at Marathon Petroleum

In related news, insider Molly R. Benson sold 10,879 shares of the business’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 transaction of $1,773,277.00. Following the completion of the transaction, the insider owned 28,700 shares of the company’s stock, valued at approximately $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kim K.W. Rucker sold 7,392 shares of the business’s stock in a transaction that occurred 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 directly owned 18,944 shares of the company’s stock, valued at approximately $3,315,200. This represents a 28.07% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

Marathon Petroleum Price Performance

MPC opened at $179.79 on Tuesday. The company has a market capitalization of $54.66 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 3.27 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. The firm has a 50-day moving average price of $170.70 and a 200-day moving average price of $155.56. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $183.10.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.74. The firm had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The company’s revenue was down 11.1% on a year-over-year basis. During the same quarter last year, the company earned $4.12 earnings per share. Equities analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 2.0%. Marathon Petroleum’s payout ratio is currently 54.01%.

Marathon Petroleum Company 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.