QRG Capital Management Inc. Sells 34,982 Shares of Marathon Petroleum Corporation $MPC

QRG Capital Management Inc. decreased its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 60.4% during the second quarter, Holdings Channel reports. The firm owned 22,898 shares of the oil and gas company’s stock after selling 34,982 shares during the quarter. QRG Capital Management Inc.’s holdings in Marathon Petroleum were worth $3,804,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in MPC. Vanguard Group Inc. boosted its stake in shares of Marathon Petroleum by 12.3% in the 1st quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock worth $5,090,611,000 after buying an additional 3,834,501 shares during the last quarter. Boston Partners lifted its holdings in Marathon Petroleum by 58.5% in the first quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock valued at $791,274,000 after acquiring an additional 2,011,810 shares during the period. Wellington Management Group LLP lifted its holdings in Marathon Petroleum by 18.7% in the first quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock valued at $1,722,664,000 after acquiring an additional 1,862,674 shares during the period. Nuveen LLC purchased a new position in Marathon Petroleum in the first quarter worth about $147,122,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Marathon Petroleum by 26.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,675,362 shares of the oil and gas company’s stock valued at $535,465,000 after purchasing an additional 769,015 shares during the period. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 0.1%

Shares of MPC stock opened at $193.34 on Tuesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. The stock has a fifty day simple moving average of $177.39 and a two-hundred day simple moving average of $162.63. The firm has a market capitalization of $58.78 billion, a PE ratio of 28.69, a PEG ratio of 3.35 and a beta of 0.90. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $201.61.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating 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 business had revenue of $34.10 billion for the quarter, compared to the consensus estimate of $31.70 billion. During the same period in the previous year, the business earned $4.12 earnings per share. The business’s revenue was down 11.1% on a year-over-year basis. On average, analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 1.9%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio is presently 54.01%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MPC. Wolfe Research cut shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 14th. Evercore ISI lifted 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. Barclays upped their price objective on Marathon Petroleum from $159.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday, July 11th. TD Cowen lowered their target price on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Finally, Scotiabank restated an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, July 11th. Eight analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $196.29.

Insider Transactions at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the sale, the insider owned 28,700 shares in the company, valued at $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.25% of the stock is currently owned by company insiders.

Marathon Petroleum Company 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.