Korea Investment CORP Trims Stake in Marathon Petroleum Corporation $MPC

Korea Investment CORP lowered its position in Marathon Petroleum Corporation (NYSE:MPC) by 24.6% in the 3rd quarter, Holdings Channel reports. The firm owned 222,966 shares of the oil and gas company’s stock after selling 72,616 shares during the quarter. Korea Investment CORP’s holdings in Marathon Petroleum were worth $42,974,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Delos Wealth Advisors LLC bought a new stake in shares of Marathon Petroleum during the second quarter worth $25,000. IAG Wealth Partners LLC bought a new stake in Marathon Petroleum during the 3rd quarter valued at about $39,000. WFA of San Diego LLC bought a new position in Marathon Petroleum in the 2nd quarter worth about $33,000. Transce3nd LLC increased its position in shares of Marathon Petroleum by 10,250.0% during the second quarter. Transce3nd LLC now owns 207 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 205 shares during the period. Finally, GGM Financials LLC purchased a new stake in shares of Marathon Petroleum in the third quarter valued at approximately $46,000. Institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on MPC shares. Piper Sandler lowered their target price on Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Wells Fargo & Company increased their target price on shares of Marathon Petroleum from $213.00 to $217.00 and gave the stock an “overweight” rating in a report on Wednesday, February 4th. BMO Capital Markets boosted their price target on shares of Marathon Petroleum from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Tuesday, March 3rd. UBS Group reissued a “buy” rating and set a $221.00 price objective on shares of Marathon Petroleum in a report on Friday, February 6th. Finally, Scotiabank restated an “outperform” rating and set a $174.00 target price on shares of Marathon Petroleum in a report on Friday, January 16th. Eleven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $202.50.

Marathon Petroleum Trading Down 2.8%

Marathon Petroleum stock opened at $215.15 on Tuesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.26. The stock has a market cap of $63.41 billion, a PE ratio of 16.12, a price-to-earnings-growth ratio of 1.37 and a beta of 0.69. The stock has a 50-day moving average of $188.22 and a two-hundred day moving average of $186.88. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $228.55.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 EPS for the quarter, topping analysts’ consensus estimates of $3.73 by $0.34. Marathon Petroleum had a net margin of 2.99% and a return on equity of 13.90%. The company had revenue of $32.57 billion during the quarter, compared to analysts’ expectations of $30.89 billion. During the same period last year, the business earned $0.77 EPS. Marathon Petroleum’s revenue for the quarter was down .1% on a year-over-year basis. On average, research analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 18th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. Marathon Petroleum’s payout ratio is currently 29.96%.

Marathon Petroleum Company Profile

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.