Marathon Petroleum Corporation $MPC Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC lessened its stake in Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 1.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 683,566 shares of the oil and gas company’s stock after selling 8,628 shares during the quarter. Voya Investment Management LLC owned 0.22% of Marathon Petroleum worth $99,589,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MPC. Vanguard Group Inc. lifted its holdings in shares of Marathon Petroleum by 12.3% in 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 raised its holdings in Marathon Petroleum by 58.5% in the 1st quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock worth $791,274,000 after purchasing an additional 2,011,810 shares during the period. Wellington Management Group LLP raised its holdings in Marathon Petroleum by 18.7% in the 1st quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock worth $1,722,664,000 after purchasing an additional 1,862,674 shares during the period. GAMMA Investing LLC raised its holdings in Marathon Petroleum by 14,969.1% in the 1st quarter. GAMMA Investing LLC now owns 1,540,963 shares of the oil and gas company’s stock worth $224,503,000 after purchasing an additional 1,530,737 shares during the period. Finally, Nuveen LLC acquired a new position in Marathon Petroleum in the 1st quarter worth about $147,122,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

NYSE:MPC opened at $180.18 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. The stock has a 50 day moving average of $172.81 and a two-hundred day moving average of $157.13. The firm has a market cap of $54.78 billion, a P/E ratio of 26.73, a price-to-earnings-growth ratio of 3.68 and a beta of 0.97. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $186.28.

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

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were given a $0.91 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.0%. Marathon Petroleum’s dividend payout ratio is 54.01%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MPC shares. Dbs Bank raised Marathon Petroleum to a “moderate buy” rating in a report on Monday, July 28th. Scotiabank reaffirmed an “outperform” rating on shares of Marathon Petroleum in a report on Friday, July 11th. Raymond James Financial upped their price target on Marathon Petroleum from $195.00 to $199.00 and gave the stock an “outperform” rating in a report on Tuesday. Citigroup boosted their price objective on Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. Finally, TD Cowen cut their price objective 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. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $189.36.

View Our Latest Analysis on Marathon Petroleum

Insider Buying and Selling

In other news, insider Molly R. Benson sold 10,879 shares of the company’s stock in a transaction that occurred on 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 sale, the insider directly owned 28,700 shares in the company, valued at $4,678,100. This represents 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 at this link. Also, Director Kim K.W. Rucker sold 7,392 shares of the company’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 sale, the director owned 18,944 shares of the company’s stock, valued at $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. 0.21% of the stock is owned by corporate insiders.

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.

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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