Marathon Petroleum Co. (NYSE:MPC) Shares Sold by OLD Republic International Corp

OLD Republic International Corp trimmed its holdings in shares of Marathon Petroleum Co. (NYSE:MPC – Get Rating) by 14.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 596,500 shares of the oil and gas company’s stock after selling 102,000 shares during the period. Marathon Petroleum makes up approximately 2.0% of OLD Republic International Corp’s investment portfolio, making the stock its 17th largest holding. OLD Republic International Corp owned 0.13% of Marathon Petroleum worth $59,250,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of MPC. M Holdings Securities Inc. grew its position in Marathon Petroleum by 1.0% during the third quarter. M Holdings Securities Inc. now owns 9,292 shares of the oil and gas company’s stock worth $923,000 after buying an additional 95 shares in the last quarter. Mission Wealth Management LP increased its position in shares of Marathon Petroleum by 1.2% during the third quarter. Mission Wealth Management LP now owns 8,153 shares of the oil and gas company’s stock valued at $810,000 after purchasing an additional 98 shares during the period. MBM Wealth Consultants LLC raised its stake in shares of Marathon Petroleum by 41.3% in the third quarter. MBM Wealth Consultants LLC now owns 342 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 100 shares in the last quarter. Texas Yale Capital Corp. lifted its position in Marathon Petroleum by 2.6% in the third quarter. Texas Yale Capital Corp. now owns 3,925 shares of the oil and gas company’s stock worth $390,000 after purchasing an additional 100 shares during the period. Finally, Bahl & Gaynor Inc. boosted its stake in Marathon Petroleum by 2.9% during the third quarter. Bahl & Gaynor Inc. now owns 3,595 shares of the oil and gas company’s stock worth $357,000 after buying an additional 100 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors.

Marathon Petroleum Price Performance

Shares of MPC stock opened at $122.69 on Thursday. Marathon Petroleum Co. has a 1 year low of $74.24 and a 1 year high of $136.46. The company has a current ratio of 1.76, a quick ratio of 1.32 and a debt-to-equity ratio of 0.75. The firm’s 50 day moving average is $124.72 and its 200-day moving average is $114.94. The firm has a market capitalization of $54.66 billion, a price-to-earnings ratio of 4.29, a PEG ratio of 0.26 and a beta of 1.60.

Marathon Petroleum (NYSE:MPC – Get Rating) last posted its quarterly earnings data on Tuesday, January 31st. The oil and gas company reported $6.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.54 by $1.11. The firm had revenue of $39.82 billion for the quarter, compared to the consensus estimate of $35.29 billion. Marathon Petroleum had a return on equity of 41.55% and a net margin of 8.07%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.30 EPS. Sell-side analysts forecast that Marathon Petroleum Co. will post 19.63 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Thursday, February 16th were issued a dividend of $0.75 per share. The ex-dividend date was Wednesday, February 15th. This represents a $3.00 annualized dividend and a yield of 2.45%. Marathon Petroleum’s dividend payout ratio is currently 10.49%.

Insider Buying and Selling at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 6,000 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $130.00, for a total transaction of $780,000.00. Following the completion of the sale, the director now owns 34,950 shares in the company, valued at approximately $4,543,500. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.28% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Piper Sandler reduced their price objective on shares of Marathon Petroleum from $153.00 to $143.00 and set a “neutral” rating for the company in a report on Monday, December 19th. Jefferies Financial Group upgraded Marathon Petroleum from a “hold” rating to a “buy” rating and upped their price objective for the company from $134.00 to $157.00 in a research note on Friday, March 3rd. Barclays raised their target price on Marathon Petroleum from $126.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, January 9th. Cowen upped their price target on Marathon Petroleum from $133.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, February 1st. Finally, UBS Group assumed coverage on Marathon Petroleum in a report on Wednesday, March 8th. They set a “buy” rating and a $165.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Marathon Petroleum has an average rating of “Buy” and a consensus target price of $138.63.

Marathon Petroleum Company Profile

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Marathon Petroleum Corp. is an independent company, which engages in the refining, marketing, and transportation of petroleum products in the United States. It operates through the following segments: Refining and Marketing, and Midstream. The Refining and Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals, and trucks that the company owns or operates.