Merrion Investment Management Co LLC Sells 667 Shares of Marathon Petroleum Corporation $MPC

Merrion Investment Management Co LLC decreased its stake in Marathon Petroleum Corporation (NYSE:MPC) by 4.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 15,619 shares of the oil and gas company’s stock after selling 667 shares during the period. Marathon Petroleum comprises 1.7% of Merrion Investment Management Co LLC’s holdings, making the stock its 15th largest position. Merrion Investment Management Co LLC’s holdings in Marathon Petroleum were worth $2,594,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in Marathon Petroleum by 30.9% during the fourth quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock valued at $696,000 after purchasing an additional 1,178 shares during the period. Brown Advisory Inc. boosted its position in shares of Marathon Petroleum by 2.3% during the first quarter. Brown Advisory Inc. now owns 6,102 shares of the oil and gas company’s stock worth $889,000 after purchasing an additional 137 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Marathon Petroleum by 7.6% in the 1st quarter. Allworth Financial LP now owns 13,233 shares of the oil and gas company’s stock valued at $1,820,000 after buying an additional 931 shares during the period. Ballentine Partners LLC increased its position in shares of Marathon Petroleum by 7.6% in the 1st quarter. Ballentine Partners LLC now owns 20,042 shares of the oil and gas company’s stock valued at $2,920,000 after buying an additional 1,421 shares in the last quarter. Finally, Platform Technology Partners acquired a new stake in Marathon Petroleum during the 1st quarter worth $202,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MPC shares. Evercore ISI boosted their target price on Marathon Petroleum from $170.00 to $210.00 and gave the company an “in-line” rating in a research note on Friday, September 19th. UBS Group boosted their price objective on Marathon Petroleum from $203.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Bank of America increased their target price on Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 3rd. Dbs Bank raised shares of Marathon Petroleum to a “moderate buy” rating in a research note on Monday, July 28th. Finally, BMO Capital Markets upped their price target on shares of Marathon Petroleum from $195.00 to $208.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $200.00.

Insider Activity

In related news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Marathon Petroleum Price Performance

NYSE MPC opened at $193.78 on Friday. The firm’s 50 day moving average is $187.86 and its 200-day moving average is $172.16. The company has a quick ratio of 0.71, a current ratio of 1.32 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $58.25 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 3.80 and a beta of 0.90. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $201.61.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 EPS for the quarter, topping the consensus estimate of $3.00 by $0.01. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. The business had revenue of $34.81 billion during the quarter, compared to analysts’ expectations of $31.06 billion. Equities research analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, November 19th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s dividend payout ratio is 38.81%.

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.