Mesirow Financial Investment Management Inc. Sells 946 Shares of Marathon Petroleum Corporation $MPC

Mesirow Financial Investment Management Inc. cut its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 8.7% during the second quarter, HoldingsChannel.com reports. The fund owned 9,942 shares of the oil and gas company’s stock after selling 946 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Marathon Petroleum were worth $1,651,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Simon Quick Advisors LLC increased its position in shares of Marathon Petroleum by 60.3% during the second quarter. Simon Quick Advisors LLC now owns 6,168 shares of the oil and gas company’s stock worth $1,025,000 after acquiring an additional 2,321 shares during the period. AdvisorShares Investments LLC increased its position in shares of Marathon Petroleum by 2.4% during the second quarter. AdvisorShares Investments LLC now owns 2,828 shares of the oil and gas company’s stock worth $470,000 after acquiring an additional 66 shares during the period. Adell Harriman & Carpenter Inc. increased its position in shares of Marathon Petroleum by 8.3% during the second quarter. Adell Harriman & Carpenter Inc. now owns 35,715 shares of the oil and gas company’s stock worth $5,933,000 after acquiring an additional 2,730 shares during the period. Atria Investments Inc increased its position in shares of Marathon Petroleum by 4.1% during the second quarter. Atria Investments Inc now owns 39,304 shares of the oil and gas company’s stock worth $6,529,000 after acquiring an additional 1,533 shares during the period. Finally, Spinnaker Trust increased its position in shares of Marathon Petroleum by 9.6% during the second quarter. Spinnaker Trust now owns 2,281 shares of the oil and gas company’s stock worth $379,000 after acquiring an additional 200 shares during the period. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Price Performance

NYSE MPC opened at $195.01 on Friday. The firm’s fifty day simple moving average is $186.45 and its two-hundred day simple moving average is $169.63. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $201.61. The firm has a market capitalization of $59.29 billion, a P/E ratio of 28.93, a P/E/G ratio of 4.09 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results 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 business had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. During the same period in the previous year, the company earned $4.12 earnings per share. The business’s revenue for the quarter was down 11.1% on a year-over-year basis. Analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th will be issued a $1.00 dividend. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. This represents a $4.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, November 19th. Marathon Petroleum’s dividend payout ratio is presently 54.01%.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum 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 transaction, the insider directly owned 28,700 shares of the company’s stock, valued at approximately $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

MPC has been the topic of a number of research reports. Barclays raised their target price on shares of Marathon Petroleum from $176.00 to $194.00 and gave the stock an “overweight” rating in a research report on Monday, October 13th. Wolfe Research lowered shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a report on Monday, July 14th. TD Cowen cut their price objective on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Citigroup lifted their price objective on shares of Marathon Petroleum from $144.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Finally, Morgan Stanley lifted their price objective on shares of Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $200.31.

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.