Gateway Investment Advisers LLC Has $5.45 Million Stake in Marathon Petroleum Corporation $MPC

Gateway Investment Advisers LLC decreased its stake in Marathon Petroleum Corporation (NYSE:MPC) by 11.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,779 shares of the oil and gas company’s stock after selling 4,054 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Marathon Petroleum were worth $5,445,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of MPC. Brighton Jones LLC grew its holdings in shares of Marathon Petroleum by 30.9% during the fourth quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock worth $696,000 after purchasing an additional 1,178 shares during the last quarter. GHE LLC increased its stake in shares of Marathon Petroleum by 1.8% in the fourth quarter. GHE LLC now owns 38,572 shares of the oil and gas company’s stock valued at $5,381,000 after buying an additional 665 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of Marathon Petroleum by 24.5% in the fourth quarter. Lazard Asset Management LLC now owns 5,324 shares of the oil and gas company’s stock valued at $742,000 after buying an additional 1,049 shares in the last quarter. Vident Advisory LLC increased its stake in shares of Marathon Petroleum by 12.3% in the fourth quarter. Vident Advisory LLC now owns 15,606 shares of the oil and gas company’s stock valued at $2,177,000 after buying an additional 1,712 shares in the last quarter. Finally, Woodline Partners LP acquired a new stake in shares of Marathon Petroleum in the fourth quarter valued at $2,692,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 0.8%

Shares of Marathon Petroleum stock opened at $184.44 on Thursday. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $186.28. The business has a 50-day moving average of $173.05 and a two-hundred day moving average of $157.84. The company has a market capitalization of $56.07 billion, a P/E ratio of 27.37, a price-to-earnings-growth ratio of 3.38 and a beta of 0.97. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71.

Marathon Petroleum (NYSE:MPC) last announced 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 return on equity of 8.38% and a net margin of 1.58%.The company had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. During the same period in the prior year, the company earned $4.12 earnings per share. The company’s revenue for the quarter was down 11.1% compared to the same quarter last year. As a group, equities analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio is 54.01%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MPC. TD Cowen lowered their target price on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Wells Fargo & Company raised their target price on Marathon Petroleum from $182.00 to $205.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Mizuho raised their target price on Marathon Petroleum from $184.00 to $188.00 and gave the company a “neutral” rating in a research note on Monday. Piper Sandler upped their price target on Marathon Petroleum from $184.00 to $222.00 and gave the company a “neutral” rating in a research note on Thursday, September 11th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Marathon Petroleum in a research note on Friday, July 11th. Eight analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average target price of $189.64.

Insider Activity

In other news, Director Kim K.W. Rucker sold 7,392 shares of the company’s stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the completion of the transaction, the director directly owned 18,944 shares of the company’s stock, valued at $3,315,200. This represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Molly R. Benson sold 10,879 shares of the company’s stock in a transaction dated Friday, August 15th. The stock was 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 $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

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.