Vanguard Group Inc. Decreases Stock Holdings in Marathon Petroleum Corp (NYSE:MPC)

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Vanguard Group Inc. reduced its position in shares of Marathon Petroleum Corp (NYSE:MPC) by 1.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 54,243,048 shares of the oil and gas company’s stock after selling 639,383 shares during the period. Vanguard Group Inc. owned about 0.08% of Marathon Petroleum worth $3,031,101,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Marathon Petroleum by 2.3% during the 2nd quarter. BlackRock Inc. now owns 56,398,616 shares of the oil and gas company’s stock worth $3,151,555,000 after purchasing an additional 1,251,901 shares during the last quarter. Third Point LLC raised its stake in Marathon Petroleum by 14.3% during the 2nd quarter. Third Point LLC now owns 4,000,000 shares of the oil and gas company’s stock worth $223,520,000 after acquiring an additional 500,000 shares in the last quarter. FIL Ltd raised its stake in Marathon Petroleum by 14.3% during the 1st quarter. FIL Ltd now owns 3,625,905 shares of the oil and gas company’s stock worth $217,011,000 after acquiring an additional 453,564 shares in the last quarter. Wells Fargo & Company MN raised its stake in Marathon Petroleum by 12.0% during the 1st quarter. Wells Fargo & Company MN now owns 3,598,951 shares of the oil and gas company’s stock worth $215,396,000 after acquiring an additional 384,268 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Marathon Petroleum by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 3,515,016 shares of the oil and gas company’s stock worth $210,373,000 after acquiring an additional 95,734 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

NYSE MPC traded down $0.05 during trading on Thursday, reaching $53.71. The company’s stock had a trading volume of 2,104,641 shares, compared to its average volume of 5,968,686. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.63 and a current ratio of 1.24. The firm has a market cap of $34.50 billion, a price-to-earnings ratio of 7.92, a P/E/G ratio of 1.34 and a beta of 1.69. Marathon Petroleum Corp has a twelve month low of $43.96 and a twelve month high of $88.45. The business’s fifty day moving average price is $49.93 and its 200-day moving average price is $54.49.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.40. The company had revenue of $33.70 billion for the quarter, compared to analyst estimates of $33.26 billion. Marathon Petroleum had a net margin of 2.36% and a return on equity of 9.55%. Marathon Petroleum’s quarterly revenue was up 50.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.27 earnings per share. As a group, sell-side analysts forecast that Marathon Petroleum Corp will post 3.93 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were paid a $0.53 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $2.12 dividend on an annualized basis and a yield of 3.95%. Marathon Petroleum’s dividend payout ratio is presently 31.27%.

Several equities research analysts recently commented on MPC shares. ValuEngine upgraded shares of Marathon Petroleum from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 22nd. JPMorgan Chase & Co. cut their price target on shares of Marathon Petroleum from $74.00 to $62.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 10th. Jefferies Financial Group started coverage on shares of Marathon Petroleum in a research note on Tuesday, September 3rd. They set a “buy” rating and a $75.00 price target on the stock. Finally, Raymond James lifted their price target on shares of Marathon Petroleum from $72.00 to $75.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $80.27.

About Marathon Petroleum

Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & 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.

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

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