Marathon Petroleum Corporation (NYSE:MPC) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its stake in shares of Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 11.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 254,090 shares of the oil and gas company’s stock after selling 32,625 shares during the period. Russell Investments Group Ltd. owned about 0.08% of Marathon Petroleum worth $36,992,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Marathon Petroleum by 12.3% during 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 acquiring an additional 3,834,501 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Marathon Petroleum by 3.7% during the 1st quarter. Bank of New York Mellon Corp now owns 4,982,348 shares of the oil and gas company’s stock valued at $725,878,000 after purchasing an additional 178,397 shares during the period. Demars Financial Group LLC raised its stake in Marathon Petroleum by 12.8% during the 1st quarter. Demars Financial Group LLC now owns 4,713,595 shares of the oil and gas company’s stock valued at $686,724,000 after purchasing an additional 536,462 shares during the period. Dimensional Fund Advisors LP raised its stake in Marathon Petroleum by 11.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,399,977 shares of the oil and gas company’s stock valued at $613,624,000 after purchasing an additional 452,043 shares during the period. Finally, Northern Trust Corp raised its stake in Marathon Petroleum by 14.0% during the 4th quarter. Northern Trust Corp now owns 3,937,348 shares of the oil and gas company’s stock valued at $549,260,000 after purchasing an additional 484,438 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MPC. Piper Sandler boosted their target price 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. Wall Street Zen raised shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Barclays boosted their target price on shares of Marathon Petroleum from $159.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Evercore ISI began coverage on shares of Marathon Petroleum in a research note on Wednesday, June 18th. They set an “in-line” rating and a $170.00 target price on the stock. Finally, Citigroup boosted their target price on shares of Marathon Petroleum from $144.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Marathon Petroleum presently has an average rating of “Hold” and a consensus price target of $185.29.

View Our Latest Stock Analysis on MPC

Marathon Petroleum Stock Up 0.5%

NYSE MPC opened at $162.52 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. The firm has a 50-day simple moving average of $169.37 and a 200 day simple moving average of $153.94. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $183.10. The stock has a market cap of $49.41 billion, a PE ratio of 24.11, a PEG ratio of 2.94 and a beta of 0.90.

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, beating the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The business had revenue of $34.10 billion during the quarter, compared to analysts’ expectations of $31.70 billion. During the same quarter last year, the company earned $4.12 earnings per share. The firm’s revenue was down 11.1% on a year-over-year basis. On average, research analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 54.01%.

Insider Buying and Selling at Marathon Petroleum

In related news, Director Kim K.W. Rucker sold 7,392 shares of the stock in a transaction dated 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 in the company, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.21% of the company’s stock.

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.

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