CoreCap Advisors LLC Reduces Holdings in Marathon Petroleum Co. (NYSE:MPC)

CoreCap Advisors LLC lessened its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 58.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,376 shares of the oil and gas company’s stock after selling 3,318 shares during the period. CoreCap Advisors LLC’s holdings in Marathon Petroleum were worth $331,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in MPC. OLD Second National Bank of Aurora lifted its position in Marathon Petroleum by 7.2% during the 4th quarter. OLD Second National Bank of Aurora now owns 994 shares of the oil and gas company’s stock worth $139,000 after acquiring an additional 67 shares during the period. Nixon Peabody Trust Co. increased its holdings in Marathon Petroleum by 3.4% in the 4th quarter. Nixon Peabody Trust Co. now owns 2,068 shares of the oil and gas company’s stock worth $288,000 after buying an additional 68 shares during the period. Lake Street Advisors Group LLC raised its position in Marathon Petroleum by 1.6% during the 4th quarter. Lake Street Advisors Group LLC now owns 4,271 shares of the oil and gas company’s stock worth $596,000 after buying an additional 69 shares during the last quarter. DT Investment Partners LLC raised its position in Marathon Petroleum by 21.5% during the 4th quarter. DT Investment Partners LLC now owns 395 shares of the oil and gas company’s stock worth $55,000 after buying an additional 70 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in shares of Marathon Petroleum by 3.4% in the 4th quarter. Avior Wealth Management LLC now owns 2,171 shares of the oil and gas company’s stock valued at $303,000 after acquiring an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Buying and Selling

In related news, insider Ricky D. Hessling bought 2,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the acquisition, the insider now directly owns 12,162 shares in the company, valued at approximately $1,638,464.64. This trade represents a 19.68 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Evan Bayh purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average cost of $133.70 per share, with a total value of $133,700.00. Following the acquisition, the director now owns 69,305 shares of the company’s stock, valued at approximately $9,266,078.50. The trade was a 1.46 % increase in their position. The disclosure for this purchase can be found here. 0.21% of the stock is currently owned by company insiders.

Marathon Petroleum Trading Up 0.6 %

MPC stock opened at $150.90 on Friday. The business’s 50-day moving average is $137.10 and its 200 day moving average is $145.10. Marathon Petroleum Co. has a 12-month low of $115.10 and a 12-month high of $183.31. The stock has a market cap of $47.01 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 3.11 and a beta of 0.87. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.16. The firm had revenue of $31.85 billion during the quarter, compared to analysts’ expectations of $28.91 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.58 earnings per share. On average, sell-side analysts anticipate that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Wednesday, May 21st. Marathon Petroleum’s dividend payout ratio is currently 36.66%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wells Fargo & Company decreased their target price on shares of Marathon Petroleum from $185.00 to $175.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. Raymond James dropped their target price on Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 9th. Morgan Stanley decreased their price target on Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Scotiabank cut their target price on shares of Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating for the company in a report on Friday, April 11th. Finally, Piper Sandler lowered their price target on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and a consensus price target of $172.93.

About Marathon Petroleum

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.