Vanguard Group Inc. Sells 521,427 Shares of Marathon Petroleum Corporation $MPC

Vanguard Group Inc. trimmed its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 1.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,344,677 shares of the oil and gas company’s stock after selling 521,427 shares during the quarter. Vanguard Group Inc. owned approximately 12.76% of Marathon Petroleum worth $7,390,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Delos Wealth Advisors LLC bought a new position in Marathon Petroleum during the 2nd quarter worth approximately $25,000. NewSquare Capital LLC increased its position in shares of Marathon Petroleum by 103.1% during the second quarter. NewSquare Capital LLC now owns 199 shares of the oil and gas company’s stock worth $33,000 after buying an additional 101 shares during the period. WFA of San Diego LLC bought a new position in Marathon Petroleum during the second quarter worth $33,000. Transce3nd LLC lifted its holdings in Marathon Petroleum by 10,250.0% in the second quarter. Transce3nd LLC now owns 207 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 205 shares during the period. Finally, Stone House Investment Management LLC grew its holdings in Marathon Petroleum by 46.1% during the 2nd quarter. Stone House Investment Management LLC now owns 225 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 71 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MPC has been the topic of several research analyst reports. Jefferies Financial Group cut their target price on Marathon Petroleum from $216.00 to $205.00 and set a “buy” rating on the stock in a research report on Monday, January 26th. JPMorgan Chase & Co. reduced their price objective on shares of Marathon Petroleum from $211.00 to $179.00 and set a “neutral” rating for the company in a research report on Tuesday, January 13th. Piper Sandler cut their target price on shares of Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Citigroup raised their price target on shares of Marathon Petroleum from $182.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Finally, BMO Capital Markets upped their price objective on shares of Marathon Petroleum from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, February 9th. Ten equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus price target of $202.19.

Marathon Petroleum Stock Up 2.7%

Shares of NYSE MPC opened at $203.33 on Tuesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79. The company has a 50-day moving average price of $179.12 and a 200-day moving average price of $182.49. The stock has a market capitalization of $61.12 billion, a P/E ratio of 15.23, a P/E/G ratio of 1.32 and a beta of 0.74. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $210.32.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share for the quarter, beating the consensus estimate of $3.73 by $0.34. The business had revenue of $35.10 billion for the quarter, compared to analysts’ expectations of $30.89 billion. Marathon Petroleum had a net margin of 2.99% and a return on equity of 14.00%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.77 EPS. On average, equities research analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Wednesday, February 18th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, February 18th. Marathon Petroleum’s dividend payout ratio is presently 29.96%.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.