Marathon Petroleum Corporation $MPC Shares Sold by Shelton Capital Management

Shelton Capital Management lowered its stake in Marathon Petroleum Corporation (NYSE:MPC) by 55.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,381 shares of the oil and gas company’s stock after selling 6,660 shares during the quarter. Shelton Capital Management’s holdings in Marathon Petroleum were worth $894,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of MPC. Baker Tilly Wealth Management LLC boosted its holdings in Marathon Petroleum by 2.8% in the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company’s stock worth $370,000 after acquiring an additional 60 shares during the period. CHICAGO TRUST Co NA raised its stake in shares of Marathon Petroleum by 3.9% during the second quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company’s stock valued at $280,000 after purchasing an additional 63 shares during the period. Werba Rubin Papier Wealth Management lifted its position in shares of Marathon Petroleum by 4.2% during the second quarter. Werba Rubin Papier Wealth Management now owns 1,577 shares of the oil and gas company’s stock worth $262,000 after purchasing an additional 64 shares in the last quarter. AdvisorShares Investments LLC boosted its stake in shares of Marathon Petroleum by 2.4% in the second quarter. AdvisorShares Investments LLC now owns 2,828 shares of the oil and gas company’s stock valued at $470,000 after purchasing an additional 66 shares during the period. Finally, Joseph Group Capital Management grew its holdings in Marathon Petroleum by 0.3% during the 2nd quarter. Joseph Group Capital Management now owns 21,904 shares of the oil and gas company’s stock valued at $3,639,000 after purchasing an additional 67 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Down 1.7%

Shares of Marathon Petroleum stock opened at $192.79 on Wednesday. The business has a 50-day moving average price of $191.88 and a 200 day moving average price of $177.97. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $202.29. The firm has a market cap of $57.95 billion, a P/E ratio of 20.55, a P/E/G ratio of 1.00 and a beta of 0.72. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.01. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%.The company had revenue of $34.81 billion for the quarter, compared to the consensus estimate of $31.06 billion. On average, sell-side analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th will be paid a dividend of $1.00 per share. The ex-dividend date is Wednesday, November 19th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. This represents a $4.00 annualized dividend and a yield of 2.1%. Marathon Petroleum’s payout ratio is presently 42.64%.

Wall Street Analyst Weigh In

A number of brokerages have commented on MPC. Morgan Stanley boosted their price objective on shares of Marathon Petroleum from $182.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, October 3rd. Mizuho lifted their target price on Marathon Petroleum from $184.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, September 15th. Barclays boosted their price target on Marathon Petroleum from $194.00 to $202.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. Evercore ISI raised their price objective on Marathon Petroleum from $170.00 to $210.00 and gave the company an “in-line” rating in a research note on Friday, September 19th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Marathon Petroleum in a report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Marathon Petroleum currently has an average rating of “Hold” and a consensus price target of $203.21.

Marathon Petroleum 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.