Savant Capital LLC Sells 27,464 Shares of Marathon Petroleum Corporation $MPC

Savant Capital LLC lowered its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 45.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,358 shares of the oil and gas company’s stock after selling 27,464 shares during the quarter. Savant Capital LLC’s holdings in Marathon Petroleum were worth $5,541,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MPC. Vanguard Group Inc. lifted its stake in Marathon Petroleum by 12.3% during 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 purchasing an additional 3,834,501 shares during the last quarter. Wellington Management Group LLP increased its position 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 valued at $1,722,664,000 after purchasing an additional 1,862,674 shares during the last quarter. Raymond James Financial Inc. raised its holdings in shares of Marathon Petroleum by 6.3% during the 1st quarter. Raymond James Financial Inc. now owns 6,037,532 shares of the oil and gas company’s stock valued at $879,608,000 after buying an additional 355,215 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Marathon Petroleum by 12.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,619,398 shares of the oil and gas company’s stock worth $933,438,000 after buying an additional 637,050 shares during the last quarter. Finally, Boston Partners boosted its stake 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 worth $791,274,000 after buying an additional 2,011,810 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction on Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.21% of the stock is owned by insiders.

Marathon Petroleum Stock Performance

Marathon Petroleum stock opened at $193.78 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.71 and a debt-to-equity ratio of 1.31. The firm has a market cap of $58.25 billion, a P/E ratio of 20.66, a P/E/G ratio of 3.80 and a beta of 0.90. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $201.61. The firm has a 50-day moving average of $187.86 and a 200-day moving average of $172.16.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 EPS for the quarter, beating 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 business had revenue of $34.81 billion during the quarter, compared to analyst estimates of $31.06 billion. Sell-side analysts expect 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. Investors of record on Wednesday, November 19th will be issued a dividend of $1.00 per share. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.91. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, November 19th. Marathon Petroleum’s dividend payout ratio is currently 38.81%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MPC. Citigroup upped their price objective on shares of Marathon Petroleum from $144.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Wolfe Research lowered shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 14th. Bank of America raised their price objective on Marathon Petroleum from $184.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, September 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Marathon Petroleum in a research note on Wednesday, October 8th. Finally, Barclays increased their target price on Marathon Petroleum from $176.00 to $194.00 and gave the company an “overweight” rating in a report on Monday, October 13th. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus price target of $200.00.

About Marathon Petroleum

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.