Ameriprise Financial Inc. Sells 1,462,339 Shares of Marathon Petroleum Corporation $MPC

Ameriprise Financial Inc. cut its position in Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 31.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,199,797 shares of the oil and gas company’s stock after selling 1,462,339 shares during the quarter. Ameriprise Financial Inc. owned about 1.04% of Marathon Petroleum worth $466,254,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Marathon Petroleum by 12.3% in the 1st quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock valued at $5,090,611,000 after acquiring an additional 3,834,501 shares in the last quarter. Boston Partners raised its holdings in Marathon Petroleum by 58.5% in the 1st quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock valued at $791,274,000 after acquiring an additional 2,011,810 shares in the last quarter. Wellington Management Group LLP raised its holdings in Marathon Petroleum by 18.7% in the 1st quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock valued at $1,722,664,000 after acquiring an additional 1,862,674 shares in the last quarter. GAMMA Investing LLC raised its holdings in Marathon Petroleum by 14,969.1% in the 1st quarter. GAMMA Investing LLC now owns 1,540,963 shares of the oil and gas company’s stock valued at $224,503,000 after acquiring an additional 1,530,737 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Marathon Petroleum in the 1st quarter valued at $147,122,000. 76.77% of the stock is currently owned by institutional investors.

Insider Transactions at Marathon Petroleum

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

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $164.6290 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $183.10. The stock has a market capitalization of $50.05 billion, a P/E ratio of 24.43, a price-to-earnings-growth ratio of 3.01 and a beta of 0.90. The stock has a fifty day moving average of $169.51 and a 200-day moving average of $154.46.

Marathon Petroleum (NYSE:MPC — Get Free Report) last issued its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The business had revenue of $34.10 billion during the quarter, compared to analysts’ expectations of $31.70 billion. During the same quarter in the prior year, the firm earned $4.12 EPS. The business’s revenue for the quarter was down 11.1% compared to the same quarter last year. On average, sell-side analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio is presently 54.01%.

Wall Street Analysts Forecast Growth

MPC has been the subject of several analyst reports. Wall Street Zen raised Marathon Petroleum from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Wells Fargo & Company lifted their price objective on Marathon Petroleum from $182.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. UBS Group lifted their price objective on Marathon Petroleum from $175.00 to $203.00 and gave the company a “buy” rating in a report on Thursday, July 10th. TD Cowen lowered their price target on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Finally, Mizuho boosted their price target on Marathon Petroleum from $168.00 to $184.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. Eight investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Hold” and an average price target of $185.29.

Check Out Our Latest Stock Report on MPC

Marathon Petroleum Company Profile

(Free Report)

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.

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