Greatmark Investment Partners Inc. reduced its stake in shares of Marathon Petroleum Corporation (NYSE:MPC – Free Report) by 1.5% in the fourth quarter, Holdings Channel reports. The fund owned 166,076 shares of the oil and gas company’s stock after selling 2,451 shares during the quarter. Marathon Petroleum accounts for about 3.2% of Greatmark Investment Partners Inc.’s portfolio, making the stock its 8th largest position. Greatmark Investment Partners Inc.’s holdings in Marathon Petroleum were worth $27,009,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Boston Partners grew its position in shares of Marathon Petroleum by 2.3% during the 3rd quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock valued at $1,214,522,000 after acquiring an additional 141,691 shares during the period. Legal & General Group Plc grew its position in shares of Marathon Petroleum by 2.0% during the 3rd quarter. Legal & General Group Plc now owns 1,861,020 shares of the oil and gas company’s stock valued at $358,693,000 after acquiring an additional 35,847 shares during the period. Amundi grew its position in shares of Marathon Petroleum by 11.8% during the 3rd quarter. Amundi now owns 1,626,862 shares of the oil and gas company’s stock valued at $314,830,000 after acquiring an additional 172,172 shares during the period. National Pension Service grew its position in shares of Marathon Petroleum by 1.7% during the 3rd quarter. National Pension Service now owns 849,268 shares of the oil and gas company’s stock valued at $163,688,000 after acquiring an additional 14,308 shares during the period. Finally, Rhumbline Advisers grew its position in shares of Marathon Petroleum by 1.8% during the 3rd quarter. Rhumbline Advisers now owns 669,237 shares of the oil and gas company’s stock valued at $128,989,000 after acquiring an additional 11,948 shares during the period. 76.77% of the stock is owned by institutional investors.
Insider Transactions at Marathon Petroleum
In other Marathon Petroleum news, insider Ricky D. Hessling sold 1,626 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $228.18, for a total value of $371,020.68. Following the sale, the insider directly owned 7,525 shares in the company, valued at $1,717,054.50. This represents a 17.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 4,473 shares of company stock valued at $1,015,428. Corporate insiders own 0.17% of the company’s stock.
Marathon Petroleum Stock Down 5.7%
Marathon Petroleum (NYSE:MPC – Get Free Report) last posted its earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.73 by $0.34. Marathon Petroleum had a net margin of 2.99% and a return on equity of 13.90%. The business had revenue of $32.57 billion for the quarter, compared to analysts’ expectations of $30.89 billion. During the same period in the prior year, the company posted $0.77 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year. On average, sell-side analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current year.
Marathon Petroleum Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 18th were paid a $1.00 dividend. The ex-dividend date was Wednesday, February 18th. This represents a $4.00 annualized dividend and a yield of 1.9%. Marathon Petroleum’s dividend payout ratio is currently 29.96%.
Analyst Ratings Changes
Several research analysts recently commented on MPC shares. The Goldman Sachs Group raised their price objective on shares of Marathon Petroleum from $239.00 to $264.00 and gave the stock a “buy” rating in a report on Friday, April 10th. Barclays raised their price objective on shares of Marathon Petroleum from $194.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. Wells Fargo & Company raised their price objective on shares of Marathon Petroleum from $213.00 to $217.00 and gave the stock an “overweight” rating in a report on Wednesday, February 4th. JPMorgan Chase & Co. raised their price objective on shares of Marathon Petroleum from $184.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Finally, Scotiabank raised shares of Marathon Petroleum to a “strong-buy” rating in a report on Friday, March 27th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $237.50.
Get Our Latest Report on Marathon Petroleum
Marathon Petroleum News Summary
Here are the key news stories impacting Marathon Petroleum this week:
- Positive Sentiment: Marathon and its MLP MPLX arranged new multi‑billion dollar unsecured revolving credit facilities that extend committed liquidity to 2031, reducing near‑term refinancing risk and supporting cash flow flexibility. Marathon Petroleum Extends Liquidity To 2031 With New Credit Lines
- Positive Sentiment: An analyst price‑target raise to $279 and a cluster of bullish targets/overweight ratings in recent months signal continued analyst confidence in MPC’s cash generation and long‑term outlook. Marathon Petroleum (NYSE:MPC) Price Target Raised to $279.00
- Neutral Sentiment: Investors are reassessing MPC’s valuation after strong recent returns (roughly +29% over 3 months); that momentum has pushed attention on whether current price already reflects near‑term margin risk. Assessing Marathon Petroleum (MPC) Valuation After Recent Share Price Momentum
- Neutral Sentiment: Coverage highlighting MPC as a long‑term value/income idea underscores the company’s dividend and cashflow narrative, but these thematic pieces are less likely to move the stock near term versus operational and macro inputs. Why Marathon Petroleum (MPC) is a Top Value Stock for the Long-Term
- Negative Sentiment: Sector‑wide pullback in refining stocks is pressuring MPC as gasoline futures have softened and investors trim exposure to narrowing product cracks; this is a primary contributor to today’s decline. Marathon Petroleum (MPC) slides 4.9% as refining stocks pull back amid shifting fuel-price and operations outlook
- Negative Sentiment: Operational volatility: scheduled maintenance at the Robinson, IL refinery (mid‑March start; some units offline into mid‑May) plus a recent FCCU upset at the Galveston Bay refinery can dent near‑term throughput and margin capture. The same QuiverQuant piece also flags insider selling and large institutional position reductions, which can heighten downward pressure. Marathon Petroleum (MPC) slides 4.9% as refining stocks pull back amid shifting fuel-price and operations outlook
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.
Further Reading
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