Marathon Petroleum Corporation $MPC Holdings Reduced by Corigliano Investment Advisers LLC

Corigliano Investment Advisers LLC decreased its position in Marathon Petroleum Corporation (NYSE:MPC) by 22.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 45,100 shares of the oil and gas company’s stock after selling 12,700 shares during the period. Marathon Petroleum makes up approximately 2.9% of Corigliano Investment Advisers LLC’s investment portfolio, making the stock its 13th largest position. Corigliano Investment Advisers LLC’s holdings in Marathon Petroleum were worth $6,571,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fourth Dimension Wealth LLC bought a new position in Marathon Petroleum in the 4th quarter worth about $26,000. CBIZ Investment Advisory Services LLC boosted its holdings 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 valued at $31,000 after acquiring an additional 201 shares in the last quarter. Hughes Financial Services LLC bought a new position in shares of Marathon Petroleum in the first quarter valued at approximately $32,000. WPG Advisers LLC bought a new position in shares of Marathon Petroleum in the first quarter valued at approximately $32,000. Finally, Decker Retirement Planning Inc. boosted its holdings in shares of Marathon Petroleum by 1,621.4% in the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 227 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Insider Buying and Selling at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction 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 transaction, the insider owned 28,700 shares in the company, valued at $4,678,100. This represents a 27.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kim K.W. Rucker sold 7,392 shares of the stock in a transaction 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 transaction, the director owned 18,944 shares in the company, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Marathon Petroleum Stock Down 0.7%

Shares of NYSE:MPC opened at $178.94 on Thursday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. The company has a market cap of $54.40 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 3.27 and a beta of 0.97. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $183.50. The firm has a 50 day simple moving average of $171.26 and a 200 day simple moving average of $155.89.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating 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 business had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. During the same quarter in the prior year, the firm earned $4.12 EPS. The firm’s quarterly revenue was down 11.1% on a year-over-year basis. As a group, research analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Raymond James Financial reiterated an “outperform” rating and issued a $200.00 price objective (up from $180.00) on shares of Marathon Petroleum in a report on Tuesday, July 15th. Wolfe Research lowered shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 14th. Morgan Stanley increased their target price on shares of Marathon Petroleum from $160.00 to $182.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. Scotiabank reissued an “outperform” rating on shares of Marathon Petroleum in a research note on Friday, July 11th. Finally, Barclays increased their target price on shares of Marathon Petroleum from $159.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Eight equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Marathon Petroleum has an average rating of “Hold” and a consensus target price of $186.57.

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.