CCM Investment Advisers LLC Has $18.10 Million Position in Marathon Petroleum Corporation $MPC

CCM Investment Advisers LLC lessened its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 2.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,123 shares of the oil and gas company’s stock after selling 2,181 shares during the period. Marathon Petroleum accounts for about 1.7% of CCM Investment Advisers LLC’s portfolio, making the stock its 18th biggest position. CCM Investment Advisers LLC’s holdings in Marathon Petroleum were worth $18,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of the stock. Orographic Financial Advisors LLC bought a new stake in Marathon Petroleum during the first quarter worth about $328,000. Bank of America Corp DE raised its position in shares of Marathon Petroleum by 1.6% in the 1st quarter. Bank of America Corp DE now owns 2,595,084 shares of the oil and gas company’s stock valued at $633,668,000 after buying an additional 40,124 shares in the last quarter. Kentucky Retirement Systems lifted its holdings in shares of Marathon Petroleum by 28.8% during the 1st quarter. Kentucky Retirement Systems now owns 24,853 shares of the oil and gas company’s stock worth $6,069,000 after acquiring an additional 5,559 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Marathon Petroleum by 76.7% during the 1st quarter. Janus Henderson Group PLC now owns 33,092 shares of the oil and gas company’s stock worth $8,083,000 after acquiring an additional 14,363 shares during the period. Finally, Centaurus Financial Inc. boosted its position in shares of Marathon Petroleum by 19.6% during the 1st quarter. Centaurus Financial Inc. now owns 1,225 shares of the oil and gas company’s stock worth $299,000 after acquiring an additional 201 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors.

Trending Headlines about Marathon Petroleum

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: Strong refining margins support earnings outlook: Record crack spreads and tight fuel markets—partly linked to Iran-related supply disruptions—are improving profitability expectations for large refiners such as MPC. Record Crack Spreads and Tight Fuel Markets Might Change The Case For Investing In Marathon Petroleum
• Positive Sentiment: Quarterly dividend maintained: MPC declared a $1.00-per-share dividend payable September 10 to shareholders of record on August 19. The annualized payout is $4.00 per share and represents a yield of approximately 1.3%, reinforcing the company’s capital-return appeal. Marathon Petroleum Corp. Announces Quarterly Dividend
• Positive Sentiment: Peer results provide a favorable read-through: PBF Energy reported second-quarter earnings and revenue well above analysts’ expectations, suggesting that strong refining conditions may also benefit MPC’s upcoming results. PBF Energy Q2 Earnings and Revenues Top Estimates
• Neutral Sentiment: Investors are focused on key Q2 metrics: Analysts are examining expected refining throughput, segment results and other operating measures ahead of MPC’s August 4 report. The estimates could increase volatility because the stock has already posted substantial gains. Ahead of Marathon Petroleum Q2 Earnings
• Neutral Sentiment: Environmental recognition: Wildlife Habitat Council certifications highlighting conservation efforts at MPLX facilities strengthen MPC’s corporate-responsibility profile, but are unlikely to materially affect near-term valuation. WHC Certifications Reflect Marathon Petroleum’s Commitment to Environmental Stewardship

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $314.18 on Friday. The company’s 50 day moving average price is $272.91 and its two-hundred day moving average price is $236.86. The firm has a market capitalization of $91.72 billion, a P/E ratio of 20.51, a P/E/G ratio of 0.20 and a beta of 0.52. Marathon Petroleum Corporation has a fifty-two week low of $158.00 and a fifty-two week high of $326.92. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The company had revenue of $34.20 billion during the quarter, compared to the consensus estimate of $33.42 billion. During the same period in the prior year, the business earned ($0.24) earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, equities analysts forecast that Marathon Petroleum Corporation will post 43.19 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a $1.00 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 annualized dividend and a yield of 1.3%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 26.11%.

Insider Activity at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the sale, the vice president directly owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on MPC. Wall Street Zen upgraded shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. The Goldman Sachs Group lifted their price target on Marathon Petroleum from $291.00 to $376.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Weiss Ratings raised Marathon Petroleum from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, July 6th. JPMorgan Chase & Co. upped their price objective on Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Finally, TD Cowen raised their price objective on Marathon Petroleum from $315.00 to $357.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Eleven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $298.69.

Marathon Petroleum Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.