MQS Management LLC Reduces Stake in Marathon Petroleum Corporation $MPC

MQS Management LLC trimmed its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 37.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,802 shares of the oil and gas company’s stock after selling 2,839 shares during the quarter. Marathon Petroleum accounts for about 0.8% of MQS Management LLC’s portfolio, making the stock its 2nd biggest holding. MQS Management LLC’s holdings in Marathon Petroleum were worth $1,173,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Diversified Trust Co. lifted its holdings in shares of Marathon Petroleum by 39.3% during the fourth quarter. Diversified Trust Co. now owns 15,675 shares of the oil and gas company’s stock valued at $2,549,000 after purchasing an additional 4,419 shares during the last quarter. North Dakota State Investment Board purchased a new position in Marathon Petroleum in the 4th quarter worth about $1,714,000. USA Financial Formulas purchased a new position in Marathon Petroleum in the 4th quarter worth about $791,000. KBC Group NV raised its holdings in Marathon Petroleum by 22.4% during the 4th quarter. KBC Group NV now owns 225,837 shares of the oil and gas company’s stock worth $36,728,000 after buying an additional 41,259 shares during the period. Finally, KKM Financial LLC boosted its holdings in shares of Marathon Petroleum by 27.6% in the third quarter. KKM Financial LLC now owns 26,202 shares of the oil and gas company’s stock worth $5,050,000 after buying an additional 5,661 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 1.5%

MPC stock opened at $255.24 on Wednesday. The company has a 50 day moving average of $249.29 and a two-hundred day moving average of $217.48. The company has a market cap of $74.51 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 0.40 and a beta of 0.52. Marathon Petroleum Corporation has a 12-month low of $158.00 and a 12-month high of $272.46. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The business had revenue of $34.20 billion for the quarter, compared to analysts’ expectations of $33.42 billion. During the same period in the previous year, the company posted ($0.24) EPS. Marathon Petroleum’s revenue was up 8.5% on a year-over-year basis. On average, equities analysts anticipate that Marathon Petroleum Corporation will post 31.35 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MPC. Barclays boosted their price target on shares of Marathon Petroleum from $230.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. UBS Group set a $285.00 price objective on shares of Marathon Petroleum in a research report on Wednesday, May 6th. Jefferies Financial Group boosted their target price on shares of Marathon Petroleum from $279.00 to $296.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Wall Street Zen upgraded Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. Finally, TD Cowen lowered their price target on Marathon Petroleum from $320.00 to $315.00 and set a “buy” rating on the stock in a report on Monday. Ten investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $272.62.

Insiders Place Their Bets

In other news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the sale, the vice president directly owned 16,900 shares of the company’s stock, valued at $4,543,058. This trade represents a 27.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is currently owned by insiders.

Marathon Petroleum 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.