Marathon Petroleum Corporation $MPC Stake Decreased by Sterling Capital Management LLC

Sterling Capital Management LLC cut its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 10.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,845 shares of the oil and gas company’s stock after selling 5,205 shares during the period. Sterling Capital Management LLC’s holdings in Marathon Petroleum were worth $10,706,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Navalign LLC acquired a new position in Marathon Petroleum during the 4th quarter worth $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Marathon Petroleum during the fourth quarter valued at $31,000. Berbice Capital Management LLC raised its stake in shares of Marathon Petroleum by 100.0% during the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. WFA of San Diego LLC acquired a new stake in Marathon Petroleum in the second quarter worth about $33,000. Finally, Ares Financial Consulting LLC bought a new position in Marathon Petroleum in the 4th quarter valued at about $34,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $253.78 on Friday. Marathon Petroleum Corporation has a one year low of $158.00 and a one year high of $272.46. The stock has a fifty day moving average of $247.79 and a 200-day moving average of $216.35. The company has a market capitalization of $74.09 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 0.39 and a beta of 0.52. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.91. The business 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 company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.24) EPS. As a group, equities analysts anticipate that Marathon Petroleum Corporation will post 31.35 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a yield of 1.6%. Marathon Petroleum’s dividend payout ratio is currently 26.11%.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction dated 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 transaction, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.17% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Mizuho boosted their price target on shares of Marathon Petroleum from $224.00 to $284.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. Bank of America lifted their price target on Marathon Petroleum from $224.00 to $260.00 in a research report on Tuesday, May 26th. Piper Sandler boosted their price objective on Marathon Petroleum from $197.00 to $228.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. JPMorgan Chase & Co. lifted their target price on Marathon Petroleum from $235.00 to $257.00 in a report on Wednesday, May 6th. Finally, Scotiabank boosted their price target 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. Ten equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $272.94.

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.