Dimensional Fund Advisors LP cut its stake in Marathon Petroleum Corporation (NYSE:MPC – Free Report) by 4.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,185,030 shares of the oil and gas company’s stock after selling 214,947 shares during the period. Dimensional Fund Advisors LP owned about 1.36% of Marathon Petroleum worth $609,613,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of MPC. Brighton Jones LLC raised its holdings in shares of Marathon Petroleum by 30.9% in the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock worth $696,000 after buying an additional 1,178 shares in the last quarter. GHE LLC raised its holdings in shares of Marathon Petroleum by 1.8% in the 4th quarter. GHE LLC now owns 38,572 shares of the oil and gas company’s stock worth $5,381,000 after buying an additional 665 shares in the last quarter. Jump Financial LLC raised its holdings in shares of Marathon Petroleum by 195.5% in the 4th quarter. Jump Financial LLC now owns 3,800 shares of the oil and gas company’s stock worth $530,000 after buying an additional 2,514 shares in the last quarter. Keeley Teton Advisors LLC raised its holdings in shares of Marathon Petroleum by 2.7% in the 4th quarter. Keeley Teton Advisors LLC now owns 6,590 shares of the oil and gas company’s stock worth $919,000 after buying an additional 175 shares in the last quarter. Finally, Demars Financial Group LLC increased its holdings in Marathon Petroleum by 16,338.3% during 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 purchasing an additional 4,151,722 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, Director Kim K.W. Rucker sold 7,392 shares of the firm’s stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total value of $1,293,600.00. Following the transaction, the director directly owned 18,944 shares in the company, valued at $3,315,200. This trade represents a 28.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is owned by corporate insiders.
Marathon Petroleum Stock Up 0.5%
Marathon Petroleum (NYSE:MPC – Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%. The business had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. During the same period last year, the company earned $4.12 EPS. The firm’s revenue was down 11.1% on a year-over-year basis. On average, analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.
Marathon Petroleum Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 54.01%.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the company. Scotiabank reaffirmed an “outperform” rating on shares of Marathon Petroleum in a report on Friday, July 11th. Barclays raised their price target on Marathon Petroleum from $159.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, July 11th. TD Cowen dropped their price target on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. UBS Group raised their price target on Marathon Petroleum from $175.00 to $203.00 and gave the company a “buy” rating in a report on Thursday, July 10th. Finally, Mizuho raised their price target on Marathon Petroleum from $168.00 to $184.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $185.29.
Get Our Latest Stock Analysis on Marathon Petroleum
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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