Forum Financial Management LP Cuts Stock Position in Marathon Petroleum Corporation $MPC

Forum Financial Management LP cut its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 85.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,050 shares of the oil and gas company’s stock after selling 6,168 shares during the quarter. Forum Financial Management LP’s holdings in Marathon Petroleum were worth $256,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Navalign LLC purchased a new stake in shares of Marathon Petroleum during the fourth quarter worth about $30,000. Kohmann Bosshard Financial Services LLC purchased a new position in Marathon Petroleum in the 4th quarter worth approximately $31,000. KERR FINANCIAL PLANNING Corp bought a new position in Marathon Petroleum in the 3rd quarter worth approximately $39,000. Berbice Capital Management LLC grew its holdings in Marathon Petroleum by 100.0% during the 4th quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 100 shares in the last quarter. Finally, WFA of San Diego LLC purchased a new stake in Marathon Petroleum during the 2nd quarter valued at approximately $33,000. Institutional investors own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wall Street Zen raised shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. Scotiabank raised their target price on shares of Marathon Petroleum from $174.00 to $210.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Jefferies Financial Group boosted their price target on shares of Marathon Petroleum from $279.00 to $296.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Raymond James Financial increased their price objective on shares of Marathon Petroleum from $285.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, June 10th. Finally, The Goldman Sachs Group raised their price objective on Marathon Petroleum from $264.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $272.62.

Insider Activity

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

Marathon Petroleum Stock Up 3.6%

NYSE MPC opened at $264.77 on Thursday. The stock has a 50 day moving average price of $250.30 and a 200-day moving average price of $218.02. Marathon Petroleum Corporation has a one year low of $158.00 and a one year high of $272.46. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18. The company has a market capitalization of $77.30 billion, a P/E ratio of 17.28, a P/E/G ratio of 0.38 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The company had revenue of $34.20 billion for the quarter, compared to the consensus estimate of $33.42 billion. During the same quarter in the prior year, the firm earned ($0.24) earnings per share. Marathon Petroleum’s revenue was up 8.5% on a year-over-year basis. As a group, equities analysts predict that Marathon Petroleum Corporation will post 32.27 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Wednesday, May 20th. Marathon Petroleum’s dividend payout ratio is currently 26.11%.

About Marathon Petroleum

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.