Acadian Asset Management LLC Trims Stake in Marathon Petroleum Co. (NYSE:MPC)

Acadian Asset Management LLC trimmed its stake in Marathon Petroleum Co. (NYSE:MPC) by 73.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 449,098 shares of the oil and gas company’s stock after selling 1,214,737 shares during the quarter. Acadian Asset Management LLC owned approximately 0.13% of Marathon Petroleum worth $77,897,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. NBC Securities Inc. raised its stake in Marathon Petroleum by 0.9% in the 1st quarter. NBC Securities Inc. now owns 6,333 shares of the oil and gas company’s stock valued at $1,276,000 after purchasing an additional 55 shares during the last quarter. Guidance Capital Inc. raised its position in shares of Marathon Petroleum by 1.1% in the first quarter. Guidance Capital Inc. now owns 5,483 shares of the oil and gas company’s stock valued at $1,135,000 after buying an additional 57 shares during the last quarter. WR Wealth Planners LLC lifted its stake in shares of Marathon Petroleum by 15.2% during the second quarter. WR Wealth Planners LLC now owns 431 shares of the oil and gas company’s stock valued at $75,000 after buying an additional 57 shares during the period. Bruce G. Allen Investments LLC grew its stake in Marathon Petroleum by 27.3% in the 1st quarter. Bruce G. Allen Investments LLC now owns 275 shares of the oil and gas company’s stock worth $55,000 after acquiring an additional 59 shares during the period. Finally, First Financial Corp IN raised its holdings in Marathon Petroleum by 2.5% in the 1st quarter. First Financial Corp IN now owns 2,429 shares of the oil and gas company’s stock valued at $489,000 after acquiring an additional 59 shares during the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MPC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price objective on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Tudor Pickering upgraded Marathon Petroleum to a “strong-buy” rating in a report on Thursday, May 30th. Wolfe Research initiated coverage on shares of Marathon Petroleum in a report on Thursday, July 18th. They set an “outperform” rating and a $200.00 price objective on the stock. Raymond James lowered their target price on shares of Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating for the company in a report on Thursday, May 30th. Finally, Mizuho cut their price target on shares of Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $198.38.

Marathon Petroleum Stock Down 1.5 %

Shares of NYSE MPC opened at $166.00 on Friday. The stock has a fifty day moving average price of $171.21 and a 200 day moving average price of $180.32. The company has a market cap of $58.49 billion, a P/E ratio of 8.29, a P/E/G ratio of 2.33 and a beta of 1.38. Marathon Petroleum Co. has a 12-month low of $139.32 and a 12-month high of $221.11. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. The business had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $5.32 earnings per share. Research analysts anticipate that Marathon Petroleum Co. will post 12.68 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be paid a $0.825 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $3.30 annualized dividend and a dividend yield of 1.99%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.