Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Athena Investment Management

Athena Investment Management trimmed its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 6.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,506 shares of the oil and gas company’s stock after selling 300 shares during the period. Athena Investment Management’s holdings in Marathon Petroleum were worth $782,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Marathon Petroleum in the fourth quarter worth about $500,685,000. Granite Bay Wealth Management LLC purchased a new position in shares of Marathon Petroleum during the 2nd quarter valued at approximately $219,537,000. Capital Wealth Planning LLC grew its position in shares of Marathon Petroleum by 10,902.9% during the first quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock worth $223,792,000 after buying an additional 1,100,536 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Marathon Petroleum by 980.3% in the second quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company’s stock worth $118,785,000 after buying an additional 621,336 shares during the last quarter. Finally, Schroder Investment Management Group raised its holdings in Marathon Petroleum by 309.9% in the fourth quarter. Schroder Investment Management Group now owns 643,590 shares of the oil and gas company’s stock valued at $95,483,000 after acquiring an additional 486,573 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MPC. Piper Sandler dropped their target price on shares of Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a research report on Friday, June 14th. Jefferies Financial Group upped their price objective on Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Barclays lowered their price target on Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a report on Monday, July 1st. Tudor Pickering raised shares of Marathon Petroleum to a “strong-buy” rating in a report on Thursday, May 30th. Finally, Raymond James reduced their price target on shares of Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating on the stock in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average price target of $198.38.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $163.54 on Wednesday. The business has a 50 day simple moving average of $170.77 and a 200 day simple moving average of $180.35. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90. The firm has a market capitalization of $54.73 billion, a price-to-earnings ratio of 8.17, a price-to-earnings-growth ratio of 2.18 and a beta of 1.38. Marathon Petroleum Co. has a 12-month low of $139.32 and a 12-month high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. The company had revenue of $38.36 billion for the quarter, compared to analyst estimates of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the company earned $5.32 earnings per share. On average, equities research analysts anticipate that Marathon Petroleum Co. will post 12.68 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

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.