Kovitz Investment Group Partners LLC decreased its position in shares of Marathon Petroleum Corporation (NYSE:MPC – Free Report) by 65.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,493 shares of the oil and gas company’s stock after selling 39,683 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Marathon Petroleum were worth $3,333,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of MPC. Navalign LLC acquired a new stake in Marathon Petroleum in the fourth quarter worth $30,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Marathon Petroleum during the 4th quarter worth $31,000. Berbice Capital Management LLC lifted its holdings in Marathon Petroleum by 100.0% during the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 100 shares in the last quarter. WFA of San Diego LLC acquired a new position in Marathon Petroleum in the second quarter valued at about $33,000. Finally, Ares Financial Consulting LLC acquired a new position in Marathon Petroleum in the fourth quarter valued at about $34,000. Institutional investors own 76.77% of the company’s stock.
Analyst Upgrades and Downgrades
MPC has been the topic of a number of research analyst reports. Scotiabank raised their price target on Marathon Petroleum from $174.00 to $210.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 22nd. Jefferies Financial Group increased their target price on Marathon Petroleum from $279.00 to $296.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Weiss Ratings lowered shares of Marathon Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Piper Sandler upped their price target on shares of Marathon Petroleum from $197.00 to $228.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Finally, Raymond James Financial raised their price objective on shares of Marathon Petroleum from $285.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, June 10th. Ten equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $272.94.
Marathon Petroleum Price Performance
Shares of NYSE MPC opened at $243.11 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73. The business has a 50-day moving average of $245.18 and a 200-day moving average of $214.32. The stock has a market capitalization of $70.97 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 0.37 and a beta of 0.52. Marathon Petroleum Corporation has a fifty-two week low of $158.00 and a fifty-two week high of $272.46.
Marathon Petroleum (NYSE:MPC – Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating the consensus estimate of $0.74 by $0.91. The firm had revenue of $34.20 billion during the quarter, compared to analysts’ expectations of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.24) earnings per share. As a group, sell-side analysts predict that Marathon Petroleum Corporation will post 31.35 earnings per share for the current fiscal year.
Marathon Petroleum Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were paid a dividend of $1.00 per share. The ex-dividend date was Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.6%. Marathon Petroleum’s dividend payout ratio is currently 26.11%.
Insider Activity at Marathon Petroleum
In other news, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the sale, the vice president owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. This represents a 27.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.
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.
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