Victory Capital Management Inc. Cuts Stock Holdings in Marathon Petroleum Corporation (NYSE:MPC)
Victory Capital Management Inc. lowered its stake in shares of Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 10.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 391,588 shares of the oil and gas company’s stock after selling 46,682 shares during the period. Victory Capital Management Inc. owned approximately 0.13% of Marathon Petroleum worth $57,050,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of MPC. Wellington Management Group LLP raised its stake in shares of Marathon Petroleum by 78.1% in the 4th quarter. Wellington Management Group LLP now owns 9,961,503 shares of the oil and gas company’s stock valued at $1,389,630,000 after acquiring an additional 4,367,774 shares during the period. Demars Financial Group LLC raised its stake in shares of Marathon Petroleum by 16,338.3% in the 4th quarter. Demars Financial Group LLC now owns 4,177,133 shares of the oil and gas company’s stock valued at $582,710,000 after acquiring an additional 4,151,722 shares during the period. Norges Bank purchased a new stake in Marathon Petroleum during the 4th quarter worth $453,427,000. GAMMA Investing LLC increased its stake in Marathon Petroleum by 14,969.1% during 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 buying an additional 1,530,737 shares during the period. Finally, Two Sigma Investments LP purchased a new stake in Marathon Petroleum during the 4th quarter worth $81,318,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.
Marathon Petroleum Trading Up 0.1%
Shares of NYSE:MPC opened at $174.34 on Friday. The company has a current ratio of 1.19, a quick ratio of 0.73 and a debt-to-equity ratio of 1.16. The company has a 50 day moving average of $166.52 and a 200-day moving average of $151.21. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $183.31. The firm has a market cap of $53.56 billion, a P/E ratio of 24.52, a P/E/G ratio of 3.27 and a beta of 0.88.
Marathon Petroleum (NYSE:MPC — Get Free Report) last released its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The business had revenue of $31.85 billion for the quarter, compared to the consensus estimate of $28.91 billion. During the same period in the previous year, the firm earned $2.58 EPS. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.
Marathon Petroleum Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date was Wednesday, May 21st. Marathon Petroleum’s payout ratio is presently 51.20%.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on MPC shares. Wall Street Zen raised shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Mizuho raised their price objective on shares of Marathon Petroleum from $168.00 to $184.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. Barclays raised their price objective on shares of Marathon Petroleum from $159.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Piper Sandler reissued a “neutral” rating and set a $175.00 price objective (up from $157.00) on shares of Marathon Petroleum in a report on Thursday, July 10th. Finally, Wells Fargo & Company raised their price objective on shares of Marathon Petroleum from $182.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Marathon Petroleum presently has an average rating of “Hold” and a consensus target price of $183.43.
Read Our Latest Stock Report on MPC
Insider Buying and Selling
In related news, Director Kim K.W. Rucker sold 7,392 shares of the business’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 transaction of $1,293,600.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.21% of the company’s stock.
About Marathon Petroleum
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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