Marathon Petroleum Corporation (NYSE:MPC) Shares Sold by Brandywine Global Investment Management LLC
Brandywine Global Investment Management LLC lessened its position in shares of Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 23.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 299,071 shares of the oil and gas company’s stock after selling 90,641 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.10% of Marathon Petroleum worth $43,572,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in MPC. Aberdeen Group plc increased its stake in Marathon Petroleum by 81.8% during the first quarter. Aberdeen Group plc now owns 139,759 shares of the oil and gas company’s stock worth $20,262,000 after acquiring an additional 62,880 shares during the last quarter. Tacita Capital Inc increased its position in shares of Marathon Petroleum by 36.2% during the 1st quarter. Tacita Capital Inc now owns 361 shares of the oil and gas company’s stock worth $53,000 after purchasing an additional 96 shares during the last quarter. Waypoint Wealth Partners Inc. purchased a new stake in Marathon Petroleum in the 1st quarter valued at about $208,000. Kovitz Investment Group Partners LLC lifted its position in Marathon Petroleum by 95.2% in the first quarter. Kovitz Investment Group Partners LLC now owns 62,023 shares of the oil and gas company’s stock valued at $9,036,000 after buying an additional 30,245 shares during the last quarter. Finally, Boston Partners lifted its position in Marathon Petroleum by 58.5% in the first quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock valued at $791,274,000 after buying an additional 2,011,810 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Marathon Petroleum
In other news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction on 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 completion of the sale, the director directly owned 18,944 shares of the company’s stock, valued at approximately $3,315,200. The trade was a 28.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.21% of the company’s stock.
Marathon Petroleum Price Performance
Shares of NYSE MPC opened at $162.52 on Friday. The stock’s 50-day moving average is $169.37 and its two-hundred day moving average is $153.94. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $183.10. The company has a market cap of $49.41 billion, a price-to-earnings ratio of 24.11, a price-to-earnings-growth ratio of 2.94 and a beta of 0.90.
Marathon Petroleum (NYSE:MPC — Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%. The business had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. During the same period in the previous year, the company posted $4.12 earnings per share. The business’s revenue for the quarter was down 11.1% on a year-over-year basis. Analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.
Marathon Petroleum Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders 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 dividend on an annualized basis and a dividend yield of 2.2%. Marathon Petroleum’s dividend payout ratio is currently 54.01%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on MPC shares. Morgan Stanley lifted their price target on shares of Marathon Petroleum from $160.00 to $182.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. Raymond James Financial reiterated an “outperform” rating and issued a $200.00 target price (up previously from $180.00) on shares of Marathon Petroleum in a report on Tuesday, July 15th. TD Cowen cut their target price on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Citigroup upped their price target 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, Piper Sandler lifted their price objective on Marathon Petroleum from $175.00 to $182.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $185.29.
Get Our Latest Report on Marathon Petroleum
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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