Cerity Partners LLC Sells 8,145 Shares of Marathon Petroleum Corporation (NYSE:MPC)
Cerity Partners LLC lowered its stake in shares of Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 4.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 185,775 shares of the oil and gas company’s stock after selling 8,145 shares during the quarter. Cerity Partners LLC owned 0.06% of Marathon Petroleum worth $27,066,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Fourth Dimension Wealth LLC bought a new stake in shares of Marathon Petroleum during the 4th quarter worth $26,000. Decker Retirement Planning Inc. raised 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. Barnes Dennig Private Wealth Management LLC purchased a new position in Marathon Petroleum in the first quarter valued at about $35,000. Capital A Wealth Management LLC purchased a new stake in shares of Marathon Petroleum during the 4th quarter worth approximately $52,000. Finally, Millstone Evans Group LLC bought a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $55,000. 76.77% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
MPC has been the subject of a number of recent research reports. Mizuho raised their target price on Marathon Petroleum from $168.00 to $184.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 13th. Wall Street Zen upgraded Marathon Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. UBS Group upped their price objective on shares of Marathon Petroleum from $175.00 to $203.00 and gave the company a “buy” rating in a report on Thursday. Barclays boosted their price target on shares of Marathon Petroleum from $159.00 to $189.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Piper Sandler raised their price objective on shares of Marathon Petroleum from $157.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $184.38.
View Our Latest Report on Marathon Petroleum
Marathon Petroleum Trading Down 1.3%
Shares of MPC opened at $179.81 on Friday. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $183.31. The company has a market capitalization of $55.24 billion, a P/E ratio of 25.29, a P/E/G ratio of 3.53 and a beta of 0.88. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 0.73. The firm’s 50 day simple moving average is $163.74 and its 200 day simple moving average is $150.00.
Marathon Petroleum (NYSE:MPC — Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.16. The firm had revenue of $31.85 billion for the quarter, compared to analysts’ expectations of $28.91 billion. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the company posted $2.58 EPS. Sell-side analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.
Marathon Petroleum Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were issued a dividend of $0.91 per share. The ex-dividend date was Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.02%. Marathon Petroleum’s dividend payout ratio is 51.20%.
Insider Buying and Selling 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 that occurred on 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 sale, the director owned 18,944 shares of the company’s stock, valued at $3,315,200. This represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.21% of the company’s stock.
Marathon Petroleum Company Profile
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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