Voya Investment Management LLC Lowers Holdings in Marathon Petroleum Corporation $MPC

Voya Investment Management LLC trimmed its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 1.2% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 683,566 shares of the oil and gas company’s stock after selling 8,628 shares during the period. Voya Investment Management LLC’s holdings in Marathon Petroleum were worth $99,589,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC purchased a new position in Marathon Petroleum in the fourth quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC grew its position in 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 period. Hughes Financial Services LLC purchased a new position in Marathon Petroleum in the first quarter worth approximately $32,000. WPG Advisers LLC purchased a new position in Marathon Petroleum in the first quarter worth approximately $32,000. Finally, Decker Retirement Planning Inc. grew its position in 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 worth $35,000 after acquiring an additional 227 shares during the period. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the firm’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the sale, the insider directly owned 28,700 shares in the company, valued at $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kim K.W. Rucker sold 7,392 shares of the firm’s stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total value of $1,293,600.00. Following the completion of the sale, the director owned 18,944 shares in the company, valued at approximately $3,315,200. This represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Marathon Petroleum Stock Down 1.2%

Shares of NYSE MPC opened at $180.18 on Friday. The stock has a market cap of $54.78 billion, a P/E ratio of 26.73, a PEG ratio of 3.68 and a beta of 0.97. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $186.28. The business’s fifty day simple moving average is $172.81 and its 200-day simple moving average is $157.13.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.74. The business had revenue of $34.10 billion for the quarter, compared to analysts’ expectations of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The company’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same period last year, the firm earned $4.12 earnings per share. As a group, equities analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 54.01%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. TD Cowen decreased their price target on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Wall Street Zen upgraded Marathon Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Citigroup upped their price target on Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. UBS Group upped their price target on Marathon Petroleum from $175.00 to $203.00 and gave the stock a “buy” rating in a research note on Thursday, July 10th. Finally, Morgan Stanley upped their price target on Marathon Petroleum from $160.00 to $182.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Eight investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $189.36.

About Marathon Petroleum

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.