Schwab Charles Investment Management Inc. decreased its holdings in Marathon Petroleum Corp (NYSE:MPC) by 10.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,225,315 shares of the oil and gas company’s stock after selling 248,158 shares during the period. Schwab Charles Investment Management Inc. owned about 0.48% of Marathon Petroleum worth $156,129,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Advisors Preferred LLC bought a new position in Marathon Petroleum in the first quarter worth approximately $101,000. Bruderman Asset Management LLC acquired a new position in shares of Marathon Petroleum during the first quarter worth $102,000. Bedel Financial Consulting Inc. acquired a new position in shares of Marathon Petroleum during the first quarter worth $106,000. Legacy Financial Advisors Inc. acquired a new position in shares of Marathon Petroleum during the second quarter worth $113,000. Finally, Northwest Wealth Management LLC acquired a new position in shares of Marathon Petroleum during the second quarter worth $116,000. 81.25% of the stock is owned by institutional investors.
A number of brokerages have recently weighed in on MPC. Zacks Investment Research raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a report on Friday. Mizuho began coverage on shares of Marathon Petroleum in a report on Wednesday, August 1st. They set a “buy” rating and a $95.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Marathon Petroleum from $98.00 to $102.00 and gave the company an “overweight” rating in a report on Friday, July 27th. Royal Bank of Canada reissued a “buy” rating and set a $87.00 price objective on shares of Marathon Petroleum in a report on Friday, July 27th. Finally, ValuEngine lowered shares of Marathon Petroleum from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 6th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $85.47.
NYSE:MPC opened at $77.11 on Friday. Marathon Petroleum Corp has a one year low of $49.30 and a one year high of $83.33. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.60. The firm has a market capitalization of $36.50 billion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 1.34 and a beta of 1.40.
Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Thursday, July 26th. The oil and gas company reported $2.27 EPS for the quarter, beating the consensus estimate of $1.98 by $0.29. Marathon Petroleum had a net margin of 4.89% and a return on equity of 12.83%. The company had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.14 billion. During the same period in the prior year, the company earned $0.93 earnings per share. The firm’s revenue was up 22.3% on a year-over-year basis. sell-side analysts anticipate that Marathon Petroleum Corp will post 5.12 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Thursday, August 16th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.39%. The ex-dividend date is Wednesday, August 15th. Marathon Petroleum’s payout ratio is 48.42%.
In other Marathon Petroleum news, insider Thomas M. Kelley sold 24,818 shares of the company’s stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $79.47, for a total value of $1,972,286.46. Following the sale, the insider now directly owns 51,869 shares of the company’s stock, valued at $4,122,029.43. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.09% of the stock is currently owned by corporate insiders.
Marathon Petroleum Profile
Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.
Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corp (NYSE:MPC).
Receive News & Ratings for Marathon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.