Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC decreased its holdings in shares of Marathon Petroleum Co. (NYSE:MPCGet Rating) by 31.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,725 shares of the oil and gas company’s stock after selling 2,168 shares during the quarter. Lazard Asset Management LLC’s holdings in Marathon Petroleum were worth $388,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FDx Advisors Inc. increased its stake in Marathon Petroleum by 39.7% during the first quarter. FDx Advisors Inc. now owns 4,505 shares of the oil and gas company’s stock worth $385,000 after acquiring an additional 1,280 shares during the last quarter. Checchi Capital Advisers LLC grew its stake in shares of Marathon Petroleum by 10.1% in the first quarter. Checchi Capital Advisers LLC now owns 8,815 shares of the oil and gas company’s stock valued at $754,000 after buying an additional 810 shares in the last quarter. Stephens Inc. AR grew its stake in shares of Marathon Petroleum by 6.7% in the first quarter. Stephens Inc. AR now owns 17,377 shares of the oil and gas company’s stock valued at $1,486,000 after buying an additional 1,085 shares in the last quarter. Brighton Jones LLC grew its stake in shares of Marathon Petroleum by 5.5% in the first quarter. Brighton Jones LLC now owns 5,056 shares of the oil and gas company’s stock valued at $432,000 after buying an additional 264 shares in the last quarter. Finally, CX Institutional acquired a new stake in shares of Marathon Petroleum in the first quarter valued at $811,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

Insider Activity

In other news, VP Timothy J. Aydt sold 12,391 shares of the business’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $122.15, for a total value of $1,513,560.65. Following the completion of the sale, the vice president now directly owns 16,762 shares of the company’s stock, valued at approximately $2,047,478.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Timothy J. Aydt sold 12,391 shares of the business’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $122.15, for a total value of $1,513,560.65. Following the completion of the sale, the vice president now directly owns 16,762 shares of the company’s stock, valued at approximately $2,047,478.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Carl Kristopher Hagedorn sold 14,353 shares of the business’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $105.41, for a total value of $1,512,949.73. Following the completion of the sale, the vice president now directly owns 7,873 shares of the company’s stock, valued at $829,892.93. The disclosure for this sale can be found here. In the last three months, insiders sold 242,067 shares of company stock valued at $28,008,832. Insiders own 0.28% of the company’s stock.

Marathon Petroleum Stock Up 0.6 %

Shares of NYSE MPC opened at $121.18 on Friday. The company has a market capitalization of $56.79 billion, a price-to-earnings ratio of 5.32, a price-to-earnings-growth ratio of 0.20 and a beta of 1.61. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.66 and a quick ratio of 1.19. The business has a 50-day moving average of $107.82 and a two-hundred day moving average of $99.21. Marathon Petroleum Co. has a 1 year low of $59.55 and a 1 year high of $123.12.

Marathon Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Wednesday, November 16th will be issued a $0.75 dividend. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.58. This represents a $3.00 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Tuesday, November 15th. Marathon Petroleum’s payout ratio is presently 13.18%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MPC. Barclays lifted their price objective on Marathon Petroleum from $112.00 to $126.00 and gave the company an “overweight” rating in a research note on Monday, October 10th. Royal Bank of Canada boosted their target price on Marathon Petroleum from $126.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 2nd. The Goldman Sachs Group boosted their target price on Marathon Petroleum from $104.00 to $116.00 and gave the stock a “neutral” rating in a research note on Thursday, November 3rd. StockNews.com started coverage on Marathon Petroleum in a research note on Wednesday, October 12th. They set a “strong-buy” rating for the company. Finally, Jefferies Financial Group started coverage on Marathon Petroleum in a research note on Wednesday, October 19th. They set a “hold” rating and a $119.00 target price for the company. Three analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.71.

About Marathon Petroleum

(Get Rating)

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

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

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