Elo Mutual Pension Insurance Co Sells 12,358 Shares of Marathon Petroleum Corporation $MPC
Elo Mutual Pension Insurance Co lowered its stake in shares of Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 50.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,223 shares of the oil and gas company’s stock after selling 12,358 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Marathon Petroleum were worth $2,030,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in Marathon Petroleum by 30.9% in the fourth quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock valued at $696,000 after purchasing an additional 1,178 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in Marathon Petroleum by 7.4% in the 1st quarter. Avantax Advisory Services Inc. now owns 18,781 shares of the oil and gas company’s stock valued at $2,736,000 after buying an additional 1,286 shares during the period. LPL Financial LLC raised its position in shares of Marathon Petroleum by 7.3% in the 1st quarter. LPL Financial LLC now owns 412,129 shares of the oil and gas company’s stock valued at $60,043,000 after buying an additional 27,937 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Marathon Petroleum by 5.2% during the 1st quarter. Mackenzie Financial Corp now owns 38,950 shares of the oil and gas company’s stock worth $5,675,000 after acquiring an additional 1,923 shares during the period. Finally, Meeder Advisory Services Inc. boosted its position in shares of Marathon Petroleum by 5.7% during the 1st quarter. Meeder Advisory Services Inc. now owns 12,364 shares of the oil and gas company’s stock worth $1,801,000 after acquiring an additional 665 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.
Marathon Petroleum Price Performance
Marathon Petroleum stock opened at $191.86 on Thursday. The stock has a 50-day moving average price of $191.36 and a two-hundred day moving average price of $177.01. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $202.29. The company has a market capitalization of $57.67 billion, a PE ratio of 20.45, a P/E/G ratio of 1.00 and a beta of 0.90. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 1.31.
Marathon Petroleum (NYSE:MPC — Get Free Report) last released its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.01. The company had revenue of $34.81 billion during the quarter, compared to the consensus estimate of $31.06 billion. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%. Analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current year.
Marathon Petroleum Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, November 19th. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. This represents a $4.00 annualized dividend and a dividend yield of 2.1%. Marathon Petroleum’s payout ratio is 42.64%.
Analysts Set New Price Targets
Several equities research analysts have weighed in on the company. Piper Sandler upped their target price on Marathon Petroleum from $220.00 to $231.00 and gave the stock a “neutral” rating in a research note on Friday, November 14th. Wall Street Zen upgraded Marathon Petroleum from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. UBS Group lifted their target price on Marathon Petroleum from $203.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, September 26th. TD Cowen lowered their target price on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Finally, Evercore ISI raised their price target on shares of Marathon Petroleum from $170.00 to $210.00 and gave the company an “in-line” rating in a research note on Friday, September 19th. Eight investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $202.14.
Check Out Our Latest Analysis 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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