LSV Asset Management Cuts Holdings in Marathon Petroleum Corporation $MPC

LSV Asset Management lessened its stake in Marathon Petroleum Corporation (NYSE:MPC) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,329,864 shares of the oil and gas company’s stock after selling 9,706 shares during the period. LSV Asset Management’s holdings in Marathon Petroleum were worth $216,276,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Orange Investment Advisors Inc. purchased a new position in Marathon Petroleum in the 4th quarter worth approximately $229,000. Axxcess Wealth Management LLC grew its stake in Marathon Petroleum by 51.9% in the 4th quarter. Axxcess Wealth Management LLC now owns 14,345 shares of the oil and gas company’s stock worth $2,333,000 after buying an additional 4,904 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in Marathon Petroleum by 483.4% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 17,759 shares of the oil and gas company’s stock worth $2,888,000 after buying an additional 14,715 shares in the last quarter. Global Retirement Partners LLC grew its stake in Marathon Petroleum by 67.7% in the 4th quarter. Global Retirement Partners LLC now owns 7,181 shares of the oil and gas company’s stock worth $1,168,000 after buying an additional 2,899 shares in the last quarter. Finally, Leonteq Securities AG purchased a new position in Marathon Petroleum in the 4th quarter worth approximately $906,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Piper Sandler boosted their price target on shares of Marathon Petroleum from $197.00 to $228.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Wells Fargo & Company boosted their price target on shares of Marathon Petroleum to $335.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Scotiabank boosted their price target on shares of Marathon Petroleum from $174.00 to $210.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Mizuho boosted their price target on shares of Marathon Petroleum from $205.00 to $224.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 17th. Finally, TD Cowen upped their price objective on shares of Marathon Petroleum to $320.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Marathon Petroleum has an average rating of “Moderate Buy” and an average target price of $259.44.

Marathon Petroleum Price Performance

Shares of Marathon Petroleum stock opened at $255.22 on Friday. Marathon Petroleum Corporation has a 52-week low of $155.93 and a 52-week high of $264.14. The stock has a market capitalization of $74.51 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 0.33 and a beta of 0.53. The company has a fifty day moving average of $238.34 and a 200-day moving average of $205.61. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18.

Marathon Petroleum (NYSE:MPC) last announced 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. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The company had revenue of $34.20 billion during the quarter, compared to analysts’ expectations of $33.42 billion. During the same quarter in the prior year, the company earned ($0.24) EPS. The firm’s revenue was up 8.5% on a year-over-year basis. Equities research analysts expect that Marathon Petroleum Corporation will post 29.67 EPS for the current year.

Marathon Petroleum Dividend Announcement

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

Insider Activity

In other news, insider Ricky D. Hessling sold 1,626 shares of the company’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $228.18, for a total value of $371,020.68. Following the completion of the sale, the insider owned 7,525 shares of the company’s stock, valued at approximately $1,717,054.50. This represents a 17.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 4,473 shares of company stock valued at $1,015,428. 0.17% of the stock is currently owned by corporate insiders.

About Marathon Petroleum

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.