Meyer Handelman Co. Decreases Holdings in Marathon Petroleum Corporation $MPC

Meyer Handelman Co. trimmed its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 3.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 219,428 shares of the oil and gas company’s stock after selling 8,257 shares during the period. Marathon Petroleum comprises approximately 1.7% of Meyer Handelman Co.’s investment portfolio, making the stock its 16th largest holding. Meyer Handelman Co.’s holdings in Marathon Petroleum were worth $53,580,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. State Street Corp raised its position in Marathon Petroleum by 0.3% in the fourth quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company’s stock worth $2,916,660,000 after acquiring an additional 47,896 shares during the period. Boston Partners grew its position in shares of Marathon Petroleum by 2.3% during the 3rd quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock valued at $1,214,522,000 after acquiring an additional 141,691 shares during the period. Norges Bank purchased a new stake in shares of Marathon Petroleum during the 4th quarter worth approximately $472,312,000. Charles Schwab Investment Management Inc. lifted its stake in Marathon Petroleum by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,818,361 shares of the oil and gas company’s stock valued at $458,350,000 after purchasing an additional 11,693 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Marathon Petroleum by 2.7% during the fourth quarter. Invesco Ltd. now owns 2,600,191 shares of the oil and gas company’s stock valued at $422,869,000 after purchasing an additional 67,600 shares during the period. Institutional investors own 76.77% of the company’s stock.

Analysts Set New Price Targets

MPC has been the topic of several research reports. Wells Fargo & Company restated an “overweight” rating and issued a $344.00 target price on shares of Marathon Petroleum in a research note on Monday, June 15th. Scotiabank increased their price target on Marathon Petroleum from $174.00 to $210.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Raymond James Financial boosted their price objective on Marathon Petroleum from $285.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, June 10th. Piper Sandler upped their price objective on shares of Marathon Petroleum from $197.00 to $228.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Finally, Barclays increased their target price on shares of Marathon Petroleum from $230.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Ten research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $272.94.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $252.79 on Friday. The firm has a market capitalization of $73.80 billion, a P/E ratio of 16.50, a PEG ratio of 0.38 and a beta of 0.52. Marathon Petroleum Corporation has a one year low of $158.00 and a one year high of $272.46. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73. The business has a fifty day moving average price of $247.18 and a 200-day moving average price of $216.09.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.91. The company had revenue of $34.20 billion for the quarter, compared to analyst estimates of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.24) EPS. As a group, equities research analysts forecast that Marathon Petroleum Corporation will post 31.35 EPS for the current year.

Marathon Petroleum Announces Dividend

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

Insider Activity at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the transaction, the vice president owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.17% of the company’s stock.

Marathon Petroleum Company Profile

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.