Stevens Capital Management LP Reduces Holdings in Marathon Petroleum Corporation $MPC

Stevens Capital Management LP trimmed its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 69.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,828 shares of the oil and gas company’s stock after selling 4,203 shares during the quarter. Stevens Capital Management LP’s holdings in Marathon Petroleum were worth $304,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Marathon Petroleum by 11.2% during the 2nd quarter. Vanguard Group Inc. now owns 38,866,104 shares of the oil and gas company’s stock valued at $6,456,049,000 after acquiring an additional 3,924,713 shares during the period. Wellington Management Group LLP lifted its position in Marathon Petroleum by 18.7% during the first 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 in the last quarter. Geode Capital Management LLC grew its holdings in Marathon Petroleum by 14.8% during the second quarter. Geode Capital Management LLC now owns 8,013,213 shares of the oil and gas company’s stock valued at $1,325,598,000 after purchasing an additional 1,033,645 shares during the period. Boston Partners increased its position in Marathon Petroleum by 13.0% in the second quarter. Boston Partners now owns 6,155,996 shares of the oil and gas company’s stock worth $1,023,110,000 after buying an additional 707,482 shares in the last quarter. Finally, Raymond James Financial Inc. raised its stake in shares of Marathon Petroleum by 6.3% in the first quarter. Raymond James Financial Inc. now owns 6,037,532 shares of the oil and gas company’s stock worth $879,608,000 after buying an additional 355,215 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Stock Performance

Shares of NYSE MPC opened at $190.53 on Friday. The company has a market cap of $57.27 billion, a P/E ratio of 20.31, a P/E/G ratio of 4.57 and a beta of 0.90. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $202.29. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.79 and a current ratio of 1.32. The firm’s fifty day moving average is $190.87 and its two-hundred day moving average is $176.12.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.01. The firm had revenue of $34.81 billion during the quarter, compared to analyst estimates of $31.06 billion. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%. As a group, analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wells Fargo & Company cut their price objective on Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Evercore ISI upped their price target on shares of Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a research report on Friday, September 19th. Scotiabank reissued an “outperform” rating on shares of Marathon Petroleum in a research note on Thursday, October 9th. Morgan Stanley raised their price objective on shares of Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, October 3rd. Finally, JPMorgan Chase & Co. increased their price target on Marathon Petroleum from $183.00 to $211.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Eight analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $202.14.

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.