Parallel Advisors LLC Sells 268 Shares of Marathon Petroleum Co. (NYSE:MPC)

Parallel Advisors LLC lessened its holdings in Marathon Petroleum Co. (NYSE:MPC) by 3.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,556 shares of the oil and gas company’s stock after selling 268 shares during the quarter. Parallel Advisors LLC’s holdings in Marathon Petroleum were worth $1,101,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of MPC. Wellington Management Group LLP increased its holdings in Marathon Petroleum by 78.1% in the 4th quarter. Wellington Management Group LLP now owns 9,961,503 shares of the oil and gas company’s stock valued at $1,389,630,000 after buying an additional 4,367,774 shares during the period. Demars Financial Group LLC increased its holdings in Marathon Petroleum by 16,338.3% in the 4th quarter. Demars Financial Group LLC now owns 4,177,133 shares of the oil and gas company’s stock valued at $582,710,000 after buying an additional 4,151,722 shares during the period. Norges Bank bought a new stake in Marathon Petroleum in the 4th quarter valued at $453,427,000. GAMMA Investing LLC increased its holdings in Marathon Petroleum by 14,969.1% in the 1st quarter. GAMMA Investing LLC now owns 1,540,963 shares of the oil and gas company’s stock valued at $224,503,000 after buying an additional 1,530,737 shares during the period. Finally, Boston Partners increased its holdings in Marathon Petroleum by 37.4% in the 4th quarter. Boston Partners now owns 3,436,704 shares of the oil and gas company’s stock valued at $480,501,000 after buying an additional 935,042 shares during the period. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 0.4%

Shares of NYSE MPC opened at $160.62 on Monday. The firm’s 50-day simple moving average is $142.62 and its 200 day simple moving average is $146.06. The company has a market cap of $49.34 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 3.11 and a beta of 0.87. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a 12-month low of $115.10 and a 12-month high of $183.31.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The company had revenue of $31.85 billion for the quarter, compared to the consensus estimate of $28.91 billion. During the same period in the prior year, the company posted $2.58 EPS. The company’s revenue was down 4.1% compared to the same quarter last year. On average, research analysts expect that Marathon Petroleum Co. will post 8.47 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 Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a dividend of $0.91 per share. The ex-dividend date is Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a yield of 2.27%. Marathon Petroleum’s payout ratio is presently 51.20%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MPC. Wall Street Zen raised shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Barclays upped their target price on shares of Marathon Petroleum from $141.00 to $159.00 and gave the stock an “overweight” rating in a report on Monday, May 12th. Morgan Stanley lowered their target price on shares of Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. TD Cowen upped their target price on shares of Marathon Petroleum from $142.00 to $152.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Finally, Mizuho upped their target price on shares of Marathon Petroleum from $168.00 to $184.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $175.29.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, insider Ricky D. Hessling bought 2,000 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the transaction, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Evan Bayh bought 1,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were acquired at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the completion of the transaction, the director now owns 69,305 shares in the company, valued at approximately $9,266,078.50. This trade represents a 1.46% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.21% of the company’s stock.

Marathon Petroleum 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.