New York Life Investment Management LLC Has $7.66 Million Stake in Marathon Petroleum Corporation $MPC

New York Life Investment Management LLC decreased its stake in Marathon Petroleum Corporation (NYSE:MPC) by 1.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,122 shares of the oil and gas company’s stock after selling 802 shares during the quarter. New York Life Investment Management LLC’s holdings in Marathon Petroleum were worth $7,661,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Marathon Petroleum by 12.3% in the 1st quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock valued at $5,090,611,000 after purchasing an additional 3,834,501 shares during the last quarter. Wellington Management Group LLP raised its position in Marathon Petroleum by 18.7% in the 1st quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock valued at $1,722,664,000 after purchasing an additional 1,862,674 shares during the last quarter. Raymond James Financial Inc. raised its position in Marathon Petroleum by 6.3% in the 1st quarter. Raymond James Financial Inc. now owns 6,037,532 shares of the oil and gas company’s stock valued at $879,608,000 after purchasing an additional 355,215 shares during the last quarter. Boston Partners raised its position in Marathon Petroleum by 58.5% in the 1st quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock valued at $791,274,000 after purchasing an additional 2,011,810 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Marathon Petroleum by 3.7% in the 1st quarter. Bank of New York Mellon Corp now owns 4,982,348 shares of the oil and gas company’s stock valued at $725,878,000 after purchasing an additional 178,397 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the firm’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the transaction, the insider owned 28,700 shares in the company, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.21% of the company’s stock.

Marathon Petroleum Trading Up 1.7%

MPC stock opened at $195.53 on Thursday. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $201.61. The business has a fifty day moving average of $185.34 and a 200-day moving average of $168.95. The company has a market cap of $59.45 billion, a P/E ratio of 29.01, a PEG ratio of 4.02 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The firm had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. During the same quarter in the prior year, the firm posted $4.12 earnings per share. The company’s quarterly revenue was down 11.1% on a year-over-year basis. As a group, equities research analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.0%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. The ex-dividend date is Wednesday, November 19th. Marathon Petroleum’s dividend payout ratio (DPR) is 54.01%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on MPC shares. Citigroup lifted their price objective on Marathon Petroleum from $144.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Evercore ISI lifted their price objective on Marathon Petroleum from $170.00 to $210.00 and gave the company an “in-line” rating in a research report on Friday, September 19th. Bank of America boosted their target price on Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 3rd. TD Cowen dropped their target price on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Finally, Barclays boosted their target price on Marathon Petroleum from $176.00 to $194.00 and gave the stock an “overweight” rating in a research report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average target price of $200.31.

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.