Marathon Petroleum Corporation $MPC Position Cut by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its stake in Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 4.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 292,934 shares of the oil and gas company’s stock after selling 13,322 shares during the period. Envestnet Asset Management Inc. owned 0.10% of Marathon Petroleum worth $56,460,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MPC. Delos Wealth Advisors LLC acquired a new stake in shares of Marathon Petroleum during the second quarter worth approximately $25,000. Activest Wealth Management grew its holdings in Marathon Petroleum by 290.2% during the second quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 119 shares during the last quarter. NewSquare Capital LLC lifted its position in Marathon Petroleum by 103.1% during the 2nd quarter. NewSquare Capital LLC now owns 199 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 101 shares during the last quarter. WFA of San Diego LLC acquired a new position in shares of Marathon Petroleum during the second quarter worth approximately $33,000. Finally, Transce3nd LLC increased its holdings in shares of Marathon Petroleum by 10,250.0% during the 2nd quarter. Transce3nd LLC now owns 207 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 205 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Trading Up 0.6%

Shares of MPC stock opened at $204.28 on Tuesday. The company’s fifty day simple moving average is $177.81 and its two-hundred day simple moving average is $181.40. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $206.45. The stock has a market capitalization of $61.41 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 1.38 and a beta of 0.74.

Marathon Petroleum (NYSE:MPC — Get Free Report) last announced its earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.73 by $0.34. The company had revenue of $35.10 billion during the quarter, compared to analyst estimates of $30.89 billion. Marathon Petroleum had a net margin of 2.99% and a return on equity of 14.00%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 earnings per share. As a group, analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 18th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, February 18th. Marathon Petroleum’s dividend payout ratio is currently 29.96%.

Analysts Set New Price Targets

MPC has been the subject of several research analyst reports. Jefferies Financial Group cut their price objective on Marathon Petroleum from $216.00 to $205.00 and set a “buy” rating for the company in a research report on Monday, January 26th. JPMorgan Chase & Co. reduced their price target on Marathon Petroleum from $211.00 to $179.00 and set a “neutral” rating for the company in a research report on Tuesday, January 13th. UBS Group restated a “buy” rating and set a $221.00 target price on shares of Marathon Petroleum in a report on Friday. TD Cowen upped their target price on Marathon Petroleum from $183.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Finally, Scotiabank reaffirmed an “outperform” rating and set a $174.00 price objective on shares of Marathon Petroleum in a research report on Friday, January 16th. Ten equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average target price of $202.19.

View Our Latest Research Report on Marathon Petroleum

About Marathon Petroleum

(Free Report)

Marathon Petroleum Corporation NYSE: MPC is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.

Further Reading

Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corporation (NYSE:MPC — Free Report).

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