Ghe LLC Sells 78 Shares of Marathon Petroleum Corporation (NYSE:MPC)

Ghe LLC cut its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 0.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,494 shares of the oil and gas company’s stock after selling 78 shares during the quarter. Marathon Petroleum accounts for 2.5% of Ghe LLC’s portfolio, making the stock its 8th biggest holding. Ghe LLC’s holdings in Marathon Petroleum were worth $5,608,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Journey Strategic Wealth LLC lifted its stake in Marathon Petroleum by 105.0% during the first quarter. Journey Strategic Wealth LLC now owns 8,582 shares of the oil and gas company’s stock worth $1,250,000 after purchasing an additional 4,396 shares during the period. Kovack Advisors Inc. lifted its stake in Marathon Petroleum by 3.6% during the first quarter. Kovack Advisors Inc. now owns 3,524 shares of the oil and gas company’s stock worth $513,000 after purchasing an additional 124 shares during the period. Carnegie Investment Counsel lifted its stake in Marathon Petroleum by 31.6% during the first quarter. Carnegie Investment Counsel now owns 34,935 shares of the oil and gas company’s stock worth $5,090,000 after purchasing an additional 8,383 shares during the period. Pinnacle Associates Ltd. lifted its stake in Marathon Petroleum by 3.1% during the first quarter. Pinnacle Associates Ltd. now owns 38,354 shares of the oil and gas company’s stock worth $5,588,000 after purchasing an additional 1,155 shares during the period. Finally, Wakefield Asset Management LLLP bought a new position in Marathon Petroleum during the first quarter worth about $205,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wolfe Research cut shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 14th. TD Cowen lifted their target price on shares of Marathon Petroleum from $152.00 to $163.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. Wall Street Zen upgraded shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. UBS Group lifted their target price on shares of Marathon Petroleum from $175.00 to $203.00 and gave the company a “buy” rating in a research note on Thursday, July 10th. Finally, Mizuho lifted their target price on shares of Marathon Petroleum from $168.00 to $184.00 and gave the company a “neutral” rating in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Marathon Petroleum currently has an average rating of “Hold” and a consensus target price of $183.93.

Insider Activity

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the firm’s stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total value of $1,293,600.00. Following the completion of the sale, the director directly owned 18,944 shares in the company, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.21% of the company’s stock.

Marathon Petroleum Price Performance

Shares of NYSE MPC traded down $3.59 during trading hours on Thursday, hitting $173.95. 622,054 shares of the stock were exchanged, compared to its average volume of 2,749,704. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.73 and a current ratio of 1.19. The company has a market cap of $53.44 billion, a PE ratio of 24.49, a price-to-earnings-growth ratio of 3.39 and a beta of 0.88. The company’s fifty day simple moving average is $167.38 and its two-hundred day simple moving average is $151.93. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $183.31.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.16. The business had revenue of $31.85 billion during the quarter, compared to the consensus estimate of $28.91 billion. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.58 EPS. On average, sell-side analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Wednesday, May 21st. Marathon Petroleum’s payout ratio is currently 51.20%.

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.