The Manufacturers Life Insurance Company Sells 27,422 Shares of Marathon Petroleum Corporation $MPC

The Manufacturers Life Insurance Company cut its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 13.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 182,661 shares of the oil and gas company’s stock after selling 27,422 shares during the period. The Manufacturers Life Insurance Company’s holdings in Marathon Petroleum were worth $44,602,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Equitable Trust Co. lifted its position in Marathon Petroleum by 1.6% during the first quarter. Equitable Trust Co. now owns 2,637 shares of the oil and gas company’s stock valued at $644,000 after purchasing an additional 42 shares in the last quarter. Bartlett & CO. Wealth Management LLC grew its holdings in Marathon Petroleum by 0.4% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 9,548 shares of the oil and gas company’s stock valued at $2,411,000 after purchasing an additional 42 shares during the period. Hunter Associates Investment Management LLC increased its position in Marathon Petroleum by 1.6% in the first quarter. Hunter Associates Investment Management LLC now owns 3,220 shares of the oil and gas company’s stock worth $786,000 after buying an additional 50 shares in the last quarter. Creative Financial Designs Inc. ADV raised its stake in shares of Marathon Petroleum by 2.6% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 2,050 shares of the oil and gas company’s stock worth $333,000 after buying an additional 51 shares during the period. Finally, IFG Advisory LLC raised its stake in shares of Marathon Petroleum by 1.5% in the fourth quarter. IFG Advisory LLC now owns 3,429 shares of the oil and gas company’s stock worth $558,000 after buying an additional 51 shares during the period. Institutional investors own 76.77% of the company’s stock.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the sale, the vice president owned 16,900 shares in the company, valued at $4,543,058. The trade was a 27.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Marathon Petroleum Stock Up 1.8%

Shares of MPC opened at $314.18 on Friday. The business’s 50 day moving average is $272.91 and its 200 day moving average is $236.86. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 12-month low of $158.00 and a 12-month high of $326.92. The company has a market capitalization of $91.72 billion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 0.20 and a beta of 0.52.

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 business had revenue of $34.20 billion during the quarter, compared to analyst estimates of $33.42 billion. During the same period last year, the firm posted ($0.24) EPS. The company’s revenue was up 8.5% on a year-over-year basis. Research analysts expect that Marathon Petroleum Corporation will post 43.19 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum’s payout ratio is currently 26.11%.

Key Stories Impacting Marathon Petroleum

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: Strong refining margins support earnings outlook: Record crack spreads and tight fuel markets—partly linked to Iran-related supply disruptions—are improving profitability expectations for large refiners such as MPC. Record Crack Spreads and Tight Fuel Markets Might Change The Case For Investing In Marathon Petroleum
• Positive Sentiment: Quarterly dividend maintained: MPC declared a $1.00-per-share dividend payable September 10 to shareholders of record on August 19. The annualized payout is $4.00 per share and represents a yield of approximately 1.3%, reinforcing the company’s capital-return appeal. Marathon Petroleum Corp. Announces Quarterly Dividend
• Positive Sentiment: Peer results provide a favorable read-through: PBF Energy reported second-quarter earnings and revenue well above analysts’ expectations, suggesting that strong refining conditions may also benefit MPC’s upcoming results. PBF Energy Q2 Earnings and Revenues Top Estimates
• Neutral Sentiment: Investors are focused on key Q2 metrics: Analysts are examining expected refining throughput, segment results and other operating measures ahead of MPC’s August 4 report. The estimates could increase volatility because the stock has already posted substantial gains. Ahead of Marathon Petroleum Q2 Earnings
• Neutral Sentiment: Environmental recognition: Wildlife Habitat Council certifications highlighting conservation efforts at MPLX facilities strengthen MPC’s corporate-responsibility profile, but are unlikely to materially affect near-term valuation. WHC Certifications Reflect Marathon Petroleum’s Commitment to Environmental Stewardship

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wall Street Zen upgraded Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. Raymond James Financial lifted their price target on shares of Marathon Petroleum from $300.00 to $335.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Mizuho upped their price target on shares of Marathon Petroleum from $224.00 to $284.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. TD Cowen increased their price objective on shares of Marathon Petroleum from $315.00 to $357.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Finally, Zacks Research downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 17th. Eleven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $298.69.

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.