Edgestream Partners L.P. Cuts Stock Holdings in Marathon Petroleum Corporation $MPC

Edgestream Partners L.P. lowered its position in Marathon Petroleum Corporation (NYSE:MPC) by 19.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,433 shares of the oil and gas company’s stock after selling 5,222 shares during the period. Edgestream Partners L.P.’s holdings in Marathon Petroleum were worth $5,234,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Marathon Petroleum in the 4th quarter valued at approximately $472,312,000. Capital Wealth Planning LLC boosted its stake in shares of Marathon Petroleum by 49,392.0% in the fourth quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock valued at $245,157,000 after buying an additional 1,495,097 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Marathon Petroleum by 3,816.8% during the fourth quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company’s stock worth $212,517,000 after acquiring an additional 1,273,386 shares during the period. GHE LLC grew its holdings in Marathon Petroleum by 1,939.8% during the first quarter. GHE LLC now owns 649,542 shares of the oil and gas company’s stock worth $158,605,000 after acquiring an additional 617,699 shares during the period. Finally, Man Group plc raised its position in Marathon Petroleum by 2,175.0% in the fourth quarter. Man Group plc now owns 568,790 shares of the oil and gas company’s stock worth $92,502,000 after acquiring an additional 543,788 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Activity at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the transaction, the vice president owned 16,900 shares of the company’s stock, valued at $4,543,058. This represents a 27.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.17% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wall Street Zen raised Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. TD Cowen upped their price target 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. Raymond James Financial increased 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. Barclays raised their price objective on shares of Marathon Petroleum from $270.00 to $289.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Finally, The Goldman Sachs Group increased their target price on shares of Marathon Petroleum from $291.00 to $376.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Eleven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $298.69.

Marathon Petroleum Stock Performance

Marathon Petroleum stock opened at $316.25 on Friday. The company has a market capitalization of $92.33 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 0.20 and a beta of 0.52. The stock has a fifty day moving average of $274.13 and a two-hundred day moving average of $237.42. Marathon Petroleum Corporation has a fifty-two week low of $158.00 and a fifty-two week high of $326.92. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.91. The firm had revenue of $34.20 billion during the quarter, compared to the consensus estimate of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.24) EPS. On average, analysts anticipate that Marathon Petroleum Corporation will post 43.19 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

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

About Marathon Petroleum

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.