Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 4.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 369,694 shares of the oil and gas company’s stock after selling 15,593 shares during the period. Envestnet Asset Management Inc.’s holdings in Marathon Petroleum were worth $64,135,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NBC Securities Inc. increased its holdings in shares of 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 acquiring an additional 55 shares during the period. Guidance Capital Inc. increased its stake in 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 purchasing an additional 57 shares during the period. WR Wealth Planners LLC raised its holdings in shares of Marathon Petroleum by 15.2% in 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 last quarter. Bruce G. Allen Investments LLC grew its holdings in shares of Marathon Petroleum by 27.3% during the first quarter. Bruce G. Allen Investments LLC now owns 275 shares of the oil and gas company’s stock worth $55,000 after buying an additional 59 shares during the last quarter. Finally, First Financial Corp IN increased its position 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 period. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on MPC shares. StockNews.com cut Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. JPMorgan Chase & Co. lowered their price objective on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 2nd. Barclays cut their price objective on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a research report on Monday, July 1st. Scotiabank lowered their target price on shares of Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Finally, Wells Fargo & Company dropped their price target on shares of Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $199.46.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $164.67 on Thursday. Marathon Petroleum Co. has a 12 month low of $139.32 and a 12 month high of $221.11. The firm has a market capitalization of $58.02 billion, a price-to-earnings ratio of 8.23, a price-to-earnings-growth ratio of 2.09 and a beta of 1.38. The business’s 50 day simple moving average is $169.97 and its 200-day simple moving average is $179.93. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, beating the consensus estimate of $3.09 by $1.03. The company had revenue of $38.36 billion for 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%. Marathon Petroleum’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.32 earnings per share. As a group, equities analysts forecast that Marathon Petroleum Co. will post 12.68 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Petroleum’s payout ratio is currently 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.