Sanctuary Advisors LLC Sells 22,438 Shares of Marathon Petroleum Corporation $MPC

Sanctuary Advisors LLC lessened its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 20.0% during the first quarter, HoldingsChannel.com reports. The firm owned 89,481 shares of the oil and gas company’s stock after selling 22,438 shares during the quarter. Sanctuary Advisors LLC’s holdings in Marathon Petroleum were worth $21,850,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in MPC. State Street Corp raised its position in shares of Marathon Petroleum by 0.3% in the fourth quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company’s stock valued at $2,916,660,000 after buying an additional 47,896 shares in the last quarter. Boston Partners increased its stake in Marathon Petroleum by 2.3% during the 3rd quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock worth $1,214,522,000 after acquiring an additional 141,691 shares during the period. Norges Bank bought a new position in Marathon Petroleum during the 4th quarter worth $472,312,000. Charles Schwab Investment Management Inc. raised its holdings in Marathon Petroleum by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,818,361 shares of the oil and gas company’s stock valued at $458,350,000 after acquiring an additional 11,693 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Marathon Petroleum by 2.7% during the 4th quarter. Invesco Ltd. now owns 2,600,191 shares of the oil and gas company’s stock valued at $422,869,000 after acquiring an additional 67,600 shares during the period. 76.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on MPC shares. Jefferies Financial Group set a $335.00 price target on Marathon Petroleum and gave the stock a “buy” rating in a research report on Sunday. Scotiabank upped their price objective on shares of Marathon Petroleum from $174.00 to $210.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 22nd. Weiss Ratings upgraded shares of Marathon Petroleum from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, July 6th. TD Cowen decreased their target price on shares of Marathon Petroleum from $320.00 to $315.00 and set a “buy” rating on the stock in a report on Monday, June 29th. Finally, Mizuho boosted their target price on shares of Marathon Petroleum from $224.00 to $284.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Ten analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Marathon Petroleum has an average rating of “Moderate Buy” and a consensus target price of $283.56.

Marathon Petroleum Price Performance

Shares of MPC stock opened at $299.39 on Thursday. The business has a fifty day simple moving average of $259.70 and a 200 day simple moving average of $225.73. The company has a market cap of $87.40 billion, a P/E ratio of 19.54, a P/E/G ratio of 0.42 and a beta of 0.52. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a twelve month low of $158.00 and a twelve month high of $304.36.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.91. The firm had revenue of $34.20 billion for the quarter, compared to analysts’ expectations of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.24) earnings per share. On average, sell-side analysts forecast that Marathon Petroleum Corporation will post 34.58 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $4.00 annualized dividend and a dividend yield of 1.3%. Marathon Petroleum’s payout ratio is 26.11%.

Insider Activity

In related news, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the transaction, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. This represents a 27.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.17% of the company’s stock.

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.