Intech Investment Management LLC Lowers Stake in Marathon Petroleum Corporation $MPC

Intech Investment Management LLC reduced its position in Marathon Petroleum Corporation (NYSE:MPC) by 24.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,537 shares of the oil and gas company’s stock after selling 5,566 shares during the quarter. Intech Investment Management LLC’s holdings in Marathon Petroleum were worth $3,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alberta Investment Management Corp purchased a new position in shares of Marathon Petroleum in the 3rd quarter worth approximately $2,891,000. Los Angeles Capital Management LLC lifted its position in Marathon Petroleum by 459.5% in the second quarter. Los Angeles Capital Management LLC now owns 189,973 shares of the oil and gas company’s stock worth $31,556,000 after buying an additional 156,019 shares during the last quarter. First Interstate Bank purchased a new position in Marathon Petroleum during the third quarter worth $5,050,000. Generali Asset Management SPA SGR increased its position in Marathon Petroleum by 36.8% during the third quarter. Generali Asset Management SPA SGR now owns 41,225 shares of the oil and gas company’s stock valued at $7,946,000 after acquiring an additional 11,082 shares during the last quarter. Finally, National Pension Service raised its stake in shares of Marathon Petroleum by 1.7% in the third quarter. National Pension Service now owns 849,268 shares of the oil and gas company’s stock valued at $163,688,000 after acquiring an additional 14,308 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC opened at $197.94 on Monday. The firm’s 50 day simple moving average is $182.09 and its 200-day simple moving average is $184.66. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.26. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $210.32. The firm has a market cap of $59.50 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 1.29 and a beta of 0.69.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.73 by $0.34. The company had revenue of $32.57 billion for the quarter, compared to analysts’ expectations of $30.89 billion. Marathon Petroleum had a return on equity of 13.90% and a net margin of 2.99%.Marathon Petroleum’s revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.77 earnings per share. As a group, equities analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 18th will be paid a dividend of $1.00 per share. The ex-dividend date is Wednesday, February 18th. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 29.96%.

Analysts Set New Price Targets

A number of research firms recently commented on MPC. Scotiabank reaffirmed an “outperform” rating and set a $174.00 price target on shares of Marathon Petroleum in a research note on Friday, January 16th. Citigroup raised their price objective on shares of Marathon Petroleum from $182.00 to $210.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. JPMorgan Chase & Co. dropped their target price on Marathon Petroleum from $211.00 to $179.00 and set a “neutral” rating for the company in a research report on Tuesday, January 13th. Barclays reduced their price target on Marathon Petroleum from $202.00 to $194.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. Finally, Wells Fargo & Company raised their price target on Marathon Petroleum from $213.00 to $217.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. Eleven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $202.19.

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.