QRG Capital Management Inc. Trims Stock Position in Marathon Petroleum Corporation $MPC

QRG Capital Management Inc. trimmed its stake in Marathon Petroleum Corporation (NYSE:MPC) by 60.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,898 shares of the oil and gas company’s stock after selling 34,982 shares during the period. QRG Capital Management Inc.’s holdings in Marathon Petroleum were worth $3,804,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. CBIZ Investment Advisory Services LLC raised its stake in Marathon Petroleum by 1,546.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock worth $31,000 after buying an additional 201 shares in the last quarter. Hughes Financial Services LLC purchased a new position in shares of Marathon Petroleum during the 1st quarter worth approximately $32,000. WPG Advisers LLC bought a new position in shares of Marathon Petroleum in the 1st quarter worth approximately $32,000. Decker Retirement Planning Inc. lifted its stake in shares of Marathon Petroleum by 1,621.4% in the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 227 shares during the period. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Marathon Petroleum in the 1st quarter valued at approximately $35,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Activity at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the transaction, the insider owned 28,700 shares in the company, valued at $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MPC. Mizuho upped their price target on Marathon Petroleum from $184.00 to $188.00 and gave the stock a “neutral” rating in a research note on Monday, September 15th. Citigroup upped their target price on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. Scotiabank reissued an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, July 11th. Wells Fargo & Company boosted their price objective on shares of Marathon Petroleum from $182.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Finally, Barclays raised their target price on shares of Marathon Petroleum from $159.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Eight research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $196.29.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $193.34 on Tuesday. The company has a market capitalization of $58.78 billion, a price-to-earnings ratio of 28.69, a price-to-earnings-growth ratio of 3.35 and a beta of 0.90. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $201.61. The company’s 50-day moving average is $177.39 and its 200 day moving average is $162.63.

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

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 1.9%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 54.01%.

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.