Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its position in shares of Marathon Petroleum Co. (NYSE:MPCGet Rating) by 3.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 332,404 shares of the oil and gas company’s stock after selling 13,158 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.06% of Marathon Petroleum worth $28,420,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Riverview Trust Co acquired a new position in Marathon Petroleum in the first quarter valued at about $29,000. Joseph Group Capital Management acquired a new position in Marathon Petroleum in the fourth quarter valued at about $989,000. Dixon Hughes Goodman Wealth Advisors LLC lifted its position in Marathon Petroleum by 138.5% in the first quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 353 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 205 shares during the last quarter. Ellis Investment Partners LLC acquired a new position in Marathon Petroleum in the fourth quarter valued at about $30,000. Finally, Column Capital Advisors LLC lifted its position in Marathon Petroleum by 337.7% in the fourth quarter. Column Capital Advisors LLC now owns 499 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 385 shares during the last quarter. Institutional investors and hedge funds own 80.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on MPC shares. StockNews.com cut shares of Marathon Petroleum from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 9th. Wells Fargo & Company increased their price target on shares of Marathon Petroleum from $117.00 to $129.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 14th. Raymond James increased their price target on shares of Marathon Petroleum from $98.00 to $110.00 and gave the stock a “strong-buy” rating in a research report on Friday, April 8th. Credit Suisse Group increased their price target on shares of Marathon Petroleum to $130.00 in a research report on Thursday, June 9th. Finally, Piper Sandler increased their price target on shares of Marathon Petroleum from $106.00 to $111.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 19th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $111.27.

Insider Buying and Selling

In related news, VP Raymond L. Brooks sold 133,857 shares of Marathon Petroleum stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $96.82, for a total transaction of $12,960,034.74. Following the completion of the sale, the vice president now owns 63,248 shares in the company, valued at approximately $6,123,671.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.28% of the stock is currently owned by company insiders.

Marathon Petroleum Trading Down 1.5 %

Shares of MPC stock opened at $90.32 on Tuesday. Marathon Petroleum Co. has a fifty-two week low of $53.47 and a fifty-two week high of $114.35. The stock has a market cap of $48.86 billion, a P/E ratio of 5.36, a P/E/G ratio of 0.25 and a beta of 1.76. The business has a fifty day simple moving average of $92.36 and a 200-day simple moving average of $85.86. The company has a quick ratio of 1.07, a current ratio of 1.45 and a debt-to-equity ratio of 0.85.

Marathon Petroleum (NYSE:MPCGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The oil and gas company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.37. The firm had revenue of $38.38 billion during the quarter, compared to analysts’ expectations of $32.46 billion. Marathon Petroleum had a return on equity of 7.60% and a net margin of 7.93%. The firm’s quarterly revenue was up 67.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.20) EPS. On average, analysts forecast that Marathon Petroleum Co. will post 19 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Wednesday, August 17th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Tuesday, August 16th. Marathon Petroleum’s dividend payout ratio is presently 13.77%.

Marathon Petroleum Company Profile

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Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. 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.

See Also

Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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