The Manufacturers Life Insurance Company Sells 27,422 Shares of Marathon Petroleum Corporation $MPC

The Manufacturers Life Insurance Company reduced its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 13.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 182,661 shares of the oil and gas company’s stock after selling 27,422 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of Marathon Petroleum worth $44,602,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MPC. Quantinno Capital Management LP grew its stake in shares of Marathon Petroleum by 16.1% in the 1st quarter. Quantinno Capital Management LP now owns 203,952 shares of the oil and gas company’s stock worth $49,801,000 after buying an additional 28,273 shares during the last quarter. Castleark Management LLC purchased a new position in Marathon Petroleum during the first quarter valued at $5,470,000. Gateway Wealth Partners LLC raised its stake in Marathon Petroleum by 104.8% during the first quarter. Gateway Wealth Partners LLC now owns 6,204 shares of the oil and gas company’s stock valued at $1,515,000 after buying an additional 3,175 shares during the last quarter. OMERS ADMINISTRATION Corp boosted its holdings in Marathon Petroleum by 20.8% in the first quarter. OMERS ADMINISTRATION Corp now owns 29,191 shares of the oil and gas company’s stock worth $7,128,000 after acquiring an additional 5,029 shares in the last quarter. Finally, 44 Wealth Management LLC purchased a new stake in shares of Marathon Petroleum in the first quarter worth $662,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MPC. BMO Capital Markets reaffirmed an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, June 12th. Morgan Stanley raised their price objective on shares of Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Bank of America lifted their target price on shares of Marathon Petroleum from $224.00 to $260.00 in a report on Tuesday, May 26th. Jefferies Financial Group set a $335.00 target price on shares of Marathon Petroleum and gave the stock a “buy” rating in a research note on Sunday, July 12th. Finally, Barclays increased their price target on shares of Marathon Petroleum from $270.00 to $289.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Eleven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $298.69.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $314.18 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18. The firm has a market cap of $91.72 billion, a price-to-earnings ratio of 20.51, a price-to-earnings-growth ratio of 0.20 and a beta of 0.52. The business has a 50-day simple moving average of $272.91 and a two-hundred day simple moving average of $236.86. Marathon Petroleum Corporation has a fifty-two week low of $158.00 and a fifty-two week high of $326.92.

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

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be paid a dividend of $1.00 per share. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a yield of 1.3%. Marathon Petroleum’s payout ratio is currently 26.11%.

Key Marathon Petroleum News

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: Strong refining margins support earnings outlook: Record crack spreads and tight fuel markets—partly linked to Iran-related supply disruptions—are improving profitability expectations for large refiners such as MPC. Record Crack Spreads and Tight Fuel Markets Might Change The Case For Investing In Marathon Petroleum
• Positive Sentiment: Quarterly dividend maintained: MPC declared a $1.00-per-share dividend payable September 10 to shareholders of record on August 19. The annualized payout is $4.00 per share and represents a yield of approximately 1.3%, reinforcing the company’s capital-return appeal. Marathon Petroleum Corp. Announces Quarterly Dividend
• Positive Sentiment: Peer results provide a favorable read-through: PBF Energy reported second-quarter earnings and revenue well above analysts’ expectations, suggesting that strong refining conditions may also benefit MPC’s upcoming results. PBF Energy Q2 Earnings and Revenues Top Estimates
• Neutral Sentiment: Investors are focused on key Q2 metrics: Analysts are examining expected refining throughput, segment results and other operating measures ahead of MPC’s August 4 report. The estimates could increase volatility because the stock has already posted substantial gains. Ahead of Marathon Petroleum Q2 Earnings
• Neutral Sentiment: Environmental recognition: Wildlife Habitat Council certifications highlighting conservation efforts at MPLX facilities strengthen MPC’s corporate-responsibility profile, but are unlikely to materially affect near-term valuation. WHC Certifications Reflect Marathon Petroleum’s Commitment to Environmental Stewardship

Insider Buying and Selling 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 stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the transaction, the vice president directly owned 16,900 shares of the company’s stock, valued at $4,543,058. This represents a 27.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is owned by insiders.

About Marathon Petroleum

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.