MAI Capital Management decreased its holdings in Marathon Petroleum Co. (NYSE:MPC – Get Rating) by 2.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,891 shares of the oil and gas company's stock after selling 287 shares during the quarter. MAI Capital Management's holdings in Marathon Petroleum were worth $978,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Herold Advisors Inc. bought a new stake in shares of Marathon Petroleum in the first quarter worth $26,000. Riverview Trust Co bought a new stake in shares of Marathon Petroleum in the first quarter worth $29,000. Hazlett Burt & Watson Inc. bought a new stake in shares of Marathon Petroleum in the first quarter worth $30,000. Dixon Hughes Goodman Wealth Advisors LLC grew its stake in shares of Marathon Petroleum by 138.5% in the first quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 353 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 205 shares during the last quarter. Finally, DB Wealth Management Group LLC grew its stake in shares of Marathon Petroleum by 886.8% in the first quarter. DB Wealth Management Group LLC now owns 375 shares of the oil and gas company's stock worth $32,000 after purchasing an additional 337 shares during the last quarter. Institutional investors own 78.69% of the company's stock.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $98.70 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.10 and a debt-to-equity ratio of 0.79. Marathon Petroleum Co. has a 1-year low of $59.55 and a 1-year high of $114.35. The firm has a market capitalization of $49.21 billion, a P/E ratio of 6.67, a P/E/G ratio of 0.19 and a beta of 1.70. The firm's 50-day moving average price is $96.34 and its 200-day moving average price is $92.16.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Wednesday, August 17th were issued a $0.58 dividend. The ex-dividend date was Tuesday, August 16th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.35%. Marathon Petroleum's dividend payout ratio is presently 15.68%.

Analysts Set New Price Targets

MPC has been the topic of several analyst reports. Royal Bank of Canada boosted their price objective on shares of Marathon Petroleum from $110.00 to $121.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 3rd. StockNews.com raised shares of Marathon Petroleum from a "buy" rating to a "strong-buy" rating in a research report on Sunday, September 11th. Morgan Stanley upped their price target on shares of Marathon Petroleum from $115.00 to $120.00 and gave the company an "overweight" rating in a research report on Friday, July 15th. Wells Fargo & Company cut their price target on shares of Marathon Petroleum from $117.00 to $116.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 21st. Finally, Piper Sandler cut their price target on shares of Marathon Petroleum from $111.00 to $110.00 and set a "neutral" rating on the stock in a research report on Monday, September 12th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $116.54.

Insider Buying and Selling

In related news, SVP Suzanne Gagle sold 35,174 shares of the company's stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $93.57, for a total value of $3,291,231.18. Following the sale, the senior vice president now owns 43,996 shares in the company, valued at approximately $4,116,705.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Marathon Petroleum news, SVP Suzanne Gagle sold 35,174 shares of the stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $93.57, for a total value of $3,291,231.18. Following the completion of the sale, the senior vice president now owns 43,996 shares in the company, valued at approximately $4,116,705.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Carl Kristopher Hagedorn sold 14,353 shares of the stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $105.41, for a total transaction of $1,512,949.73. Following the completion of the sale, the vice president now owns 7,873 shares of the company's stock, valued at approximately $829,892.93. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by company insiders.

Marathon Petroleum Company Profile

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Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. 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.

Further Reading

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