Two Sigma Securities LLC Reduces Position in Marathon Petroleum Corporation $MPC

Two Sigma Securities LLC decreased its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 36.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 4,285 shares of the oil and gas company’s stock after selling 2,460 shares during the period. Two Sigma Securities LLC’s holdings in Marathon Petroleum were worth $1,096,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of MPC. Energy Income Partners LLC purchased a new position in Marathon Petroleum during the 2nd quarter valued at about $4,912,000. Evolve Private Wealth LLC purchased a new stake in shares of Marathon Petroleum in the second quarter worth about $673,000. Pictet Asset Management Holding SA lifted its holdings in shares of Marathon Petroleum by 31.0% in the first quarter. Pictet Asset Management Holding SA now owns 213,545 shares of the oil and gas company’s stock worth $52,146,000 after buying an additional 50,521 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in shares of Marathon Petroleum by 570.7% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 168,644 shares of the oil and gas company’s stock valued at $41,180,000 after acquiring an additional 143,500 shares during the period. Finally, North Dakota State Investment Board bought a new position in shares of Marathon Petroleum in the fourth quarter valued at approximately $1,714,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 1.5%

Shares of MPC opened at $374.48 on Tuesday. Marathon Petroleum Corporation has a 1 year low of $161.93 and a 1 year high of $376.56. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. The stock has a 50 day simple moving average of $311.41 and a two-hundred day simple moving average of $261.80. The firm has a market cap of $109.33 billion, a P/E ratio of 12.87, a P/E/G ratio of 0.24 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, topping the consensus estimate of $14.27 by $3.46. The firm had revenue of $51.99 billion for the quarter, compared to the consensus estimate of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The business’s revenue was up 53.5% compared to the same quarter last year. During the same period last year, the firm posted $3.96 earnings per share. On average, analysts forecast that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 13.75%.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the sale, the vice president directly owned 16,900 shares of the company’s stock, valued at $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Molly R. Benson sold 17,196 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the sale, the insider owned 30,334 shares of the company’s stock, valued at approximately $10,876,862.38. The trade was a 36.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 26,602 shares of company stock valued at $8,951,004. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Bank of America raised their price target on shares of Marathon Petroleum from $224.00 to $260.00 in a report on Tuesday, May 26th. Morgan Stanley boosted their price target on shares of Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Wells Fargo & Company upped their price target on shares of Marathon Petroleum from $344.00 to $359.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Finally, Zacks Research lowered Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 17th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $312.50.

Marathon Petroleum Company Profile

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.