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AQR Capital Management LLC Sells 41,447 Shares of Marathon Petroleum Corporation $MPC

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AQR Capital Management LLC trimmed its position in shares of Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 4.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 998,230 shares of the oil and gas company’s stock after selling 41,447 shares during the quarter. AQR Capital Management LLC owned 0.32% of Marathon Petroleum worth $144,584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of MPC. Vanguard Group Inc. lifted its holdings in shares of Marathon Petroleum by 12.3% during 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 buying an additional 3,834,501 shares during the period. Boston Partners grew its position in shares of Marathon Petroleum by 58.5% during the first quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock valued at $791,274,000 after purchasing an additional 2,011,810 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Marathon Petroleum by 18.7% during the first 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 purchasing an additional 1,862,674 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Marathon Petroleum by 14,969.1% during the first quarter. GAMMA Investing LLC now owns 1,540,963 shares of the oil and gas company’s stock valued at $224,503,000 after purchasing an additional 1,530,737 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Marathon Petroleum in the first quarter worth about $147,122,000. 76.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Molly R. Benson sold 10,879 shares of the business’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 owned 28,700 shares of the company’s stock, valued at $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kim K.W. Rucker sold 7,392 shares of the business’s stock in a transaction that occurred 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 transaction, the director directly owned 18,944 shares in the company, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MPC. Wall Street Zen upgraded Marathon Petroleum from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Scotiabank reissued an “outperform” rating on shares of Marathon Petroleum in a research note on Friday, July 11th. TD Cowen reduced their price target on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Dbs Bank upgraded shares of Marathon Petroleum to a “moderate buy” rating in a research note on Monday, July 28th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $200.00 target price (up previously from $180.00) on shares of Marathon Petroleum in a research note on Tuesday, July 15th. Eight research 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $186.57.

View Our Latest Research Report on MPC

Marathon Petroleum Price Performance

MPC opened at $178.94 on Thursday. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $183.50. The company has a 50-day moving average of $171.26 and a 200-day moving average of $155.89. 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 capitalization of $54.40 billion, a P/E ratio of 26.55, a PEG ratio of 3.27 and a beta of 0.97.

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

Marathon Petroleum Dividend Announcement

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

About Marathon Petroleum

(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.

See Also

Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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