Corigliano Investment Advisers LLC Reduces Holdings in Marathon Petroleum Corporation $MPC
Corigliano Investment Advisers LLC decreased its position in shares of Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 22.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 45,100 shares of the oil and gas company’s stock after selling 12,700 shares during the quarter. Marathon Petroleum makes up about 2.9% of Corigliano Investment Advisers LLC’s holdings, making the stock its 13th largest position. Corigliano Investment Advisers LLC’s holdings in Marathon Petroleum were worth $6,571,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Sunpointe LLC lifted its position in Marathon Petroleum by 5.1% in the first quarter. Sunpointe LLC now owns 1,681 shares of the oil and gas company’s stock valued at $245,000 after purchasing an additional 81 shares during the period. Beverly Hills Private Wealth LLC increased its stake in shares of Marathon Petroleum by 1.3% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 6,739 shares of the oil and gas company’s stock worth $982,000 after purchasing an additional 84 shares in the last quarter. Valmark Advisers Inc. increased its stake in shares of Marathon Petroleum by 2.3% during the 1st quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company’s stock worth $554,000 after purchasing an additional 86 shares in the last quarter. Southland Equity Partners LLC increased its stake in shares of Marathon Petroleum by 6.2% during the 1st quarter. Southland Equity Partners LLC now owns 1,549 shares of the oil and gas company’s stock worth $226,000 after purchasing an additional 90 shares in the last quarter. Finally, Prudent Man Advisors LLC increased its stake in shares of Marathon Petroleum by 2.3% during the 1st quarter. Prudent Man Advisors LLC now owns 4,056 shares of the oil and gas company’s stock worth $591,000 after purchasing an additional 91 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.
Insider Activity
In related news, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the sale, the insider owned 28,700 shares of the company’s stock, valued at $4,678,100. This represents a 27.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kim K.W. Rucker sold 7,392 shares of the business’s stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the sale, the director directly owned 18,944 shares of the company’s stock, valued at approximately $3,315,200. This represents a 28.07% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.
Marathon Petroleum Stock Performance
Shares of MPC stock opened at $178.94 on Thursday. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $183.50. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. The firm has a market capitalization of $54.40 billion, a P/E ratio of 26.55, a P/E/G ratio of 3.27 and a beta of 0.97. The company’s fifty day moving average price is $171.26 and its two-hundred day moving average price is $155.89.
Marathon Petroleum (NYSE:MPC — Get Free Report) last released its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.74. The company had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The company’s revenue was down 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.12 EPS. On average, research analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.
Marathon Petroleum Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th will be given a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.0%. Marathon Petroleum’s payout ratio is presently 54.01%.
Analyst Ratings Changes
Several analysts have commented on the stock. Raymond James Financial reaffirmed an “outperform” rating and issued a $200.00 target price (up from $180.00) on shares of Marathon Petroleum in a research note on Tuesday, July 15th. Piper Sandler boosted their price objective on shares of Marathon Petroleum from $175.00 to $182.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Wolfe Research lowered shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a report on Monday, July 14th. TD Cowen reduced their target price on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Finally, Citigroup lifted their target price on shares of Marathon Petroleum from $144.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Eight analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Hold” and an average price target of $186.57.
Check Out Our Latest Stock Report on Marathon Petroleum
Marathon Petroleum 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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