Leavell Investment Management Inc. Sells 107 Shares of Marathon Petroleum Corporation $MPC

Leavell Investment Management Inc. lowered its stake in Marathon Petroleum Corporation (NYSE:MPC) by 0.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,600 shares of the oil and gas company’s stock after selling 107 shares during the quarter. Leavell Investment Management Inc.’s holdings in Marathon Petroleum were worth $2,924,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Marathon Petroleum by 12.3% in the first quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock worth $5,090,611,000 after buying an additional 3,834,501 shares in the last quarter. Boston Partners increased its stake 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 worth $791,274,000 after acquiring an additional 2,011,810 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Marathon Petroleum by 18.7% during the 1st quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock worth $1,722,664,000 after acquiring an additional 1,862,674 shares in the last quarter. Nuveen LLC bought a new position in shares of Marathon Petroleum during the 1st quarter valued at approximately $147,122,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Marathon Petroleum by 26.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,675,362 shares of the oil and gas company’s stock valued at $535,465,000 after purchasing an additional 769,015 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

MPC has been the topic of several research reports. Bank of America boosted their price target on shares of Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 3rd. Piper Sandler boosted their target price on shares of Marathon Petroleum from $184.00 to $222.00 and gave the stock a “neutral” rating in a report on Thursday, September 11th. Mizuho increased their price target on shares of Marathon Petroleum from $184.00 to $188.00 and gave the company a “neutral” rating in a report on Monday, September 15th. Morgan Stanley lifted their price target on Marathon Petroleum from $182.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. Finally, Barclays upped their price objective on Marathon Petroleum from $176.00 to $194.00 and gave the company an “overweight” rating in a research report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus price target of $200.31.

Insider Buying and Selling

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the company’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 transaction, the insider owned 28,700 shares of the company’s stock, valued at $4,678,100. This represents a 27.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.21% of the stock is owned by company insiders.

Marathon Petroleum Price Performance

MPC stock opened at $196.17 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $201.61. The stock has a market cap of $59.64 billion, a PE ratio of 29.10, a P/E/G ratio of 4.11 and a beta of 0.90. The company has a 50-day moving average price of $183.52 and a 200 day moving average price of $167.25.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data 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 business had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. During the same quarter last year, the firm earned $4.12 earnings per share. The firm’s quarterly revenue was down 11.1% compared to the same quarter last year. Equities research analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

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

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.