Rehmann Capital Advisory Group Has $1.30 Million Position in Marathon Petroleum Corporation $MPC

Rehmann Capital Advisory Group cut its position in Marathon Petroleum Corporation (NYSE:MPC) by 22.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 7,836 shares of the oil and gas company’s stock after selling 2,239 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Marathon Petroleum were worth $1,302,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parcion Private Wealth LLC boosted its position in Marathon Petroleum by 2.3% in the second quarter. Parcion Private Wealth LLC now owns 34,403 shares of the oil and gas company’s stock valued at $5,715,000 after buying an additional 789 shares in the last quarter. Adams Natural Resources Fund Inc. boosted its position in Marathon Petroleum by 392.0% in the second quarter. Adams Natural Resources Fund Inc. now owns 104,312 shares of the oil and gas company’s stock valued at $17,327,000 after buying an additional 83,111 shares in the last quarter. Steel Grove Capital Advisors LLC acquired a new position in shares of Marathon Petroleum during the second quarter worth approximately $223,000. Brookstone Capital Management lifted its position in shares of Marathon Petroleum by 17.8% during the second quarter. Brookstone Capital Management now owns 10,687 shares of the oil and gas company’s stock worth $1,775,000 after purchasing an additional 1,617 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its position in shares of Marathon Petroleum by 49.3% during the second quarter. D.A. Davidson & CO. now owns 40,353 shares of the oil and gas company’s stock worth $6,703,000 after purchasing an additional 13,333 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MPC shares. TD Cowen reduced their target price on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Bank of America upped their target price on shares of Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 3rd. Evercore ISI boosted their price target on shares of Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a research note on Friday, September 19th. Dbs Bank raised shares of Marathon Petroleum to a “moderate buy” rating in a research note on Monday, July 28th. Finally, Wolfe Research downgraded shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and an average price target of $200.31.

Insiders Place Their Bets

In related news, insider Molly R. Benson sold 10,879 shares of the firm’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the transaction, the insider owned 28,700 shares of the company’s stock, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.21% of the company’s stock.

Marathon Petroleum Stock Up 3.1%

Shares of NYSE:MPC opened at $188.52 on Thursday. The company has a 50 day moving average price of $182.18 and a two-hundred day moving average price of $165.87. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $201.61. The company has a market capitalization of $57.31 billion, a PE ratio of 27.97, a PEG ratio of 2.85 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The company had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. During the same quarter in the prior year, the firm earned $4.12 earnings per share. The firm’s revenue was down 11.1% compared to the same quarter last year. Analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 annualized dividend and a dividend yield of 1.9%. Marathon Petroleum’s dividend payout ratio is currently 54.01%.

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.