L2 Asset Management LLC Sells 14,825 Shares of Marathon Petroleum Corporation $MPC

L2 Asset Management LLC decreased its position in Marathon Petroleum Corporation (NYSE:MPC) by 46.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,808 shares of the oil and gas company’s stock after selling 14,825 shares during the quarter. L2 Asset Management LLC’s holdings in Marathon Petroleum were worth $3,240,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Associated Banc Corp grew its holdings in Marathon Petroleum by 2.1% in the 3rd quarter. Associated Banc Corp now owns 2,475 shares of the oil and gas company’s stock valued at $477,000 after buying an additional 52 shares in the last quarter. CoreCap Advisors LLC increased its position in Marathon Petroleum by 2.6% during the 3rd quarter. CoreCap Advisors LLC now owns 2,363 shares of the oil and gas company’s stock worth $456,000 after buying an additional 59 shares during the period. CI Investments Inc. lifted its holdings in shares of Marathon Petroleum by 1.8% during the third quarter. CI Investments Inc. now owns 3,336 shares of the oil and gas company’s stock worth $643,000 after buying an additional 60 shares in the last quarter. FSM Wealth Advisors LLC boosted its position in shares of Marathon Petroleum by 1.6% in the third quarter. FSM Wealth Advisors LLC now owns 3,944 shares of the oil and gas company’s stock valued at $760,000 after acquiring an additional 63 shares during the period. Finally, Warwick Investment Management Inc. boosted its position in shares of Marathon Petroleum by 4.6% in the third quarter. Warwick Investment Management Inc. now owns 1,436 shares of the oil and gas company’s stock valued at $277,000 after acquiring an additional 63 shares during the period. Institutional investors own 76.77% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on MPC. Raymond James Financial raised their price target on shares of Marathon Petroleum from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. Jefferies Financial Group cut their price objective on shares of Marathon Petroleum from $216.00 to $205.00 and set a “buy” rating for the company in a report on Monday, January 26th. BMO Capital Markets increased their target price on shares of Marathon Petroleum from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 3rd. JPMorgan Chase & Co. lowered their target price on shares of Marathon Petroleum from $211.00 to $179.00 and set a “neutral” rating on the stock in a report on Tuesday, January 13th. Finally, Weiss Ratings upgraded shares of Marathon Petroleum from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, February 27th. Eleven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus price target of $204.25.

Insider Activity

In related news, insider Ricky D. Hessling sold 1,037 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $229.08, for a total transaction of $237,555.96. Following the sale, the insider owned 9,151 shares in the company, valued at approximately $2,096,311.08. This trade represents a 10.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.25% of the company’s stock.

Marathon Petroleum Stock Up 1.4%

Shares of NYSE MPC opened at $229.36 on Tuesday. The stock has a market capitalization of $67.60 billion, a P/E ratio of 17.18, a PEG ratio of 1.35 and a beta of 0.69. The stock’s fifty day moving average is $194.20 and its 200 day moving average is $188.67. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $236.10. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.26.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.34. The business had revenue of $32.57 billion during the quarter, compared to analysts’ expectations of $30.89 billion. Marathon Petroleum had a net margin of 2.99% and a return on equity of 13.90%. Marathon Petroleum’s revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.77 earnings per share. Sell-side analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 18th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Wednesday, February 18th. Marathon Petroleum’s dividend payout ratio is 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.