Merrion Investment Management Co LLC Has $2.59 Million Position in Marathon Petroleum Corporation $MPC

Merrion Investment Management Co LLC lowered its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 4.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,619 shares of the oil and gas company’s stock after selling 667 shares during the quarter. Marathon Petroleum accounts for about 1.7% of Merrion Investment Management Co LLC’s investment portfolio, making the stock its 15th biggest position. Merrion Investment Management Co LLC’s holdings in Marathon Petroleum were worth $2,594,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Marathon Petroleum by 12.3% in the 1st 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 grew its position in Marathon Petroleum by 58.5% in the first quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock valued at $791,274,000 after acquiring an additional 2,011,810 shares during the period. Wellington Management Group LLP raised its stake 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 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 first quarter valued at $147,122,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Marathon Petroleum by 26.5% in the 1st 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. Institutional investors own 76.77% of the company’s stock.

Insider Activity

In other news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the sale, the insider owned 28,700 shares in the company, valued at $4,678,100. The trade was a 27.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MPC. UBS Group increased their target price on shares of Marathon Petroleum from $203.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Wells Fargo & Company dropped their price objective on shares of Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating for the company in a report on Wednesday. Piper Sandler lifted their target price on shares of Marathon Petroleum from $184.00 to $222.00 and gave the company a “neutral” rating in a research note on Thursday, September 11th. Wolfe Research lowered Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 14th. Finally, Barclays lifted 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. Eight analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $200.00.

Marathon Petroleum Stock Up 0.6%

NYSE:MPC opened at $193.78 on Friday. The company has a market cap of $58.25 billion, a price-to-earnings ratio of 20.66, a P/E/G ratio of 3.80 and a beta of 0.90. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.71 and a current ratio of 1.32. The stock’s fifty day moving average price is $187.86 and its two-hundred day moving average price is $172.16. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $201.61.

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

Marathon Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Wednesday, November 19th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s dividend payout ratio is currently 38.81%.

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.