Sei Investments Co. Cuts Holdings in Marathon Petroleum Corporation $MPC

Sei Investments Co. decreased its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 3.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 185,858 shares of the oil and gas company’s stock after selling 7,211 shares during the period. Sei Investments Co. owned about 0.06% of Marathon Petroleum worth $45,384,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of MPC. Pictet Asset Management Holding SA boosted its stake in Marathon Petroleum by 31.0% in the 1st quarter. Pictet Asset Management Holding SA now owns 213,545 shares of the oil and gas company’s stock worth $52,146,000 after purchasing an additional 50,521 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in Marathon Petroleum by 570.7% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 168,644 shares of the oil and gas company’s stock worth $41,180,000 after purchasing an additional 143,500 shares during the last quarter. USA Financial Formulas acquired a new position in Marathon Petroleum during the 4th quarter valued at approximately $791,000. North Dakota State Investment Board acquired a new position in Marathon Petroleum during the 4th quarter valued at approximately $1,714,000. Finally, KBC Group NV raised its holdings in shares of Marathon Petroleum by 22.4% in the fourth quarter. KBC Group NV now owns 225,837 shares of the oil and gas company’s stock worth $36,728,000 after buying an additional 41,259 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Down 0.0%

Shares of Marathon Petroleum stock opened at $309.14 on Monday. The stock has a market cap of $90.25 billion, a PE ratio of 20.18, a price-to-earnings-growth ratio of 0.20 and a beta of 0.52. The firm has a fifty day moving average price of $268.66 and a 200 day moving average price of $233.03. Marathon Petroleum Corporation has a 1 year low of $158.00 and a 1 year high of $326.92. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating the consensus estimate of $0.74 by $0.91. The company had revenue of $34.20 billion for the quarter, compared to analyst estimates of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.24) earnings per share. Equities research analysts predict that Marathon Petroleum Corporation will post 43.19 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Wednesday, May 20th. Marathon Petroleum’s payout ratio is 26.11%.

Insider Activity at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the sale, the vice president directly owned 16,900 shares of the company’s stock, valued at $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MPC shares. Citigroup boosted their price objective on shares of Marathon Petroleum from $257.00 to $303.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Barclays raised their target price on Marathon Petroleum from $270.00 to $289.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Zacks Research cut Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 17th. Scotiabank boosted their price target on Marathon Petroleum from $174.00 to $210.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. raised their price objective on Marathon Petroleum from $235.00 to $257.00 in a research note on Wednesday, May 6th. Eleven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $298.69.

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.