Marathon Petroleum Corporation $MPC Position Reduced by Voya Investment Management LLC

Voya Investment Management LLC lowered its stake in Marathon Petroleum Corporation (NYSE:MPC) by 4.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 669,296 shares of the oil and gas company’s stock after selling 31,617 shares during the period. Voya Investment Management LLC’s holdings in Marathon Petroleum were worth $129,000,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of MPC. Concord Asset Management LLC VA acquired a new position in Marathon Petroleum in the second quarter worth $412,000. Jump Financial LLC raised its holdings in shares of Marathon Petroleum by 128.0% during the first quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company’s stock worth $1,262,000 after purchasing an additional 4,863 shares during the period. Los Angeles Capital Management LLC lifted its position in shares of Marathon Petroleum by 459.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 189,973 shares of the oil and gas company’s stock worth $31,556,000 after buying an additional 156,019 shares during the last quarter. FSM Wealth Advisors LLC acquired a new position in shares of Marathon Petroleum in the 2nd quarter valued at about $685,000. Finally, Greatmark Investment Partners Inc. grew its position in shares of Marathon Petroleum by 2.9% during the 2nd quarter. Greatmark Investment Partners Inc. now owns 168,603 shares of the oil and gas company’s stock valued at $28,007,000 after buying an additional 4,820 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Shares of MPC opened at $167.91 on Friday. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $202.29. The stock’s fifty day moving average is $189.66 and its 200-day moving average is $179.87. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.79 and a current ratio of 1.32. The firm has a market capitalization of $50.47 billion, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 0.87 and a beta of 0.72.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.01. The business had revenue of $34.81 billion during the quarter, compared to the consensus estimate of $31.06 billion. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. Equities analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, November 19th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. This represents a $4.00 annualized dividend and a yield of 2.4%. Marathon Petroleum’s dividend payout ratio is presently 42.64%.

Analysts Set New Price Targets

A number of brokerages have commented on MPC. Morgan Stanley lifted their target price on Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, October 3rd. Raymond James Financial boosted their price objective on Marathon Petroleum from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Tuesday, November 25th. Mizuho set a $196.00 price objective on Marathon Petroleum in a research note on Friday, December 12th. BMO Capital Markets reiterated an “outperform” rating on shares of Marathon Petroleum in a research note on Tuesday, December 9th. Finally, Piper Sandler upped their price target on shares of Marathon Petroleum from $220.00 to $231.00 and gave the stock a “neutral” rating in a research report on Friday, November 14th. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum currently has an average rating of “Hold” and a consensus target price of $203.79.

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.