Assetmark Inc. Trims Position in Marathon Petroleum Corporation $MPC

Assetmark Inc. trimmed its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 0.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 44,871 shares of the oil and gas company’s stock after selling 414 shares during the quarter. Assetmark Inc.’s holdings in Marathon Petroleum were worth $7,453,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in MPC. Vanguard Group Inc. raised its holdings in shares of Marathon Petroleum by 12.3% in the first 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 buying an additional 3,834,501 shares during the last quarter. Boston Partners raised its holdings in shares of Marathon Petroleum by 58.5% in the first quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock valued at $791,274,000 after buying an additional 2,011,810 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Marathon Petroleum by 18.7% in the first quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock valued at $1,722,664,000 after buying an additional 1,862,674 shares during the last quarter. Nuveen LLC acquired a new stake in Marathon Petroleum in the first quarter valued at about $147,122,000. Finally, Price T Rowe Associates Inc. MD lifted its position in Marathon Petroleum by 26.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,675,362 shares of the oil and gas company’s stock valued at $535,465,000 after purchasing an additional 769,015 shares during the period. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Trading Down 0.3%

Shares of Marathon Petroleum stock opened at $195.01 on Monday. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $201.61. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. The stock has a market cap of $59.29 billion, a PE ratio of 28.93, a price-to-earnings-growth ratio of 4.08 and a beta of 0.90. The company has a 50-day moving average of $186.45 and a two-hundred day moving average of $170.28.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The company had revenue of $34.10 billion during the quarter, compared to analysts’ expectations of $31.70 billion. During the same period last year, the company posted $4.12 earnings per share. The firm’s quarterly revenue was down 11.1% compared to the same quarter last year. On average, research analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.1%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Wednesday, November 19th. Marathon Petroleum’s dividend payout ratio is 54.01%.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the transaction, the insider directly owned 28,700 shares of the company’s stock, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MPC shares. BMO Capital Markets raised their price objective on shares of Marathon Petroleum from $195.00 to $208.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Marathon Petroleum in a research report on Wednesday, October 8th. Wells Fargo & Company started coverage on shares of Marathon Petroleum in a research report on Friday, October 17th. They issued an “overweight” rating and a $214.00 price objective for the company. Mizuho raised their price objective on shares of Marathon Petroleum from $184.00 to $188.00 and gave the company a “neutral” rating in a research report on Monday, September 15th. Finally, Evercore ISI raised their price objective on shares of Marathon Petroleum from $170.00 to $210.00 and gave the company an “in-line” rating in a research report on Friday, September 19th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.31.

Marathon Petroleum Company Profile

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.