Marathon Petroleum Corporation $MPC Position Decreased by Empyrean Capital Partners LP

Empyrean Capital Partners LP decreased its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 8.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 398,100 shares of the oil and gas company’s stock after selling 38,400 shares during the period. Marathon Petroleum accounts for about 3.2% of Empyrean Capital Partners LP’s investment portfolio, making the stock its 4th largest holding. Empyrean Capital Partners LP’s holdings in Marathon Petroleum were worth $97,208,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Marathon Petroleum during the fourth quarter worth about $472,312,000. Capital Wealth Planning LLC grew its holdings in Marathon Petroleum by 49,392.0% in the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock valued at $245,157,000 after buying an additional 1,495,097 shares during the period. Pacer Advisors Inc. grew its holdings in Marathon Petroleum by 3,816.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company’s stock valued at $212,517,000 after buying an additional 1,273,386 shares during the period. GHE LLC increased its stake in shares of Marathon Petroleum by 1,939.8% during the 1st quarter. GHE LLC now owns 649,542 shares of the oil and gas company’s stock valued at $158,605,000 after acquiring an additional 617,699 shares during the last quarter. Finally, Man Group plc increased its stake in shares of Marathon Petroleum by 2,175.0% during the 4th quarter. Man Group plc now owns 568,790 shares of the oil and gas company’s stock valued at $92,502,000 after acquiring an additional 543,788 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

Marathon Petroleum stock opened at $311.79 on Tuesday. The company has a market cap of $91.02 billion, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 0.20 and a beta of 0.52. Marathon Petroleum Corporation has a 12 month low of $158.00 and a 12 month high of $326.92. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73. The stock’s 50-day moving average is $269.70 and its 200-day moving average is $234.02.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.91. The business had revenue of $34.20 billion during the quarter, compared to analysts’ expectations of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.24) EPS. Equities analysts anticipate that Marathon Petroleum Corporation will post 43.19 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.3%. The ex-dividend date was Wednesday, May 20th. Marathon Petroleum’s payout ratio is currently 26.11%.

Analyst Ratings Changes

Several research firms recently issued reports on MPC. The Goldman Sachs Group raised their target price on shares of Marathon Petroleum from $291.00 to $376.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Barclays upped their price target on shares of Marathon Petroleum from $270.00 to $289.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. TD Cowen increased their price target on shares of Marathon Petroleum from $315.00 to $357.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Citigroup lifted their price target on shares of Marathon Petroleum from $257.00 to $303.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Finally, Wall Street Zen raised shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. Eleven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $298.69.

Insider Transactions at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction on 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 sale, the vice president owned 16,900 shares of the company’s stock, valued at $4,543,058. This represents a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

Marathon Petroleum Profile

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.