Belpointe Asset Management LLC Sells 787 Shares of Marathon Petroleum Corporation $MPC

Belpointe Asset Management LLC decreased its position in Marathon Petroleum Corporation (NYSE:MPC) by 16.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,107 shares of the oil and gas company’s stock after selling 787 shares during the quarter. Belpointe Asset Management LLC’s holdings in Marathon Petroleum were worth $598,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Marathon Petroleum by 12.3% during the first quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock valued at $5,090,611,000 after buying an additional 3,834,501 shares during the last quarter. Boston Partners raised its stake in Marathon Petroleum by 58.5% during the 1st quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock valued at $791,274,000 after purchasing an additional 2,011,810 shares during the period. Wellington Management Group LLP raised its stake in Marathon Petroleum by 18.7% during the 1st quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock valued at $1,722,664,000 after purchasing an additional 1,862,674 shares during the period. GAMMA Investing LLC increased its stake in Marathon Petroleum by 14,969.1% in the 1st quarter. GAMMA Investing LLC now owns 1,540,963 shares of the oil and gas company’s stock worth $224,503,000 after acquiring an additional 1,530,737 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Marathon Petroleum in the 1st quarter worth approximately $147,122,000. 76.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the transaction, the insider owned 28,700 shares of the company’s stock, valued at $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kim K.W. Rucker sold 7,392 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total value of $1,293,600.00. Following the transaction, the director directly owned 18,944 shares of the company’s stock, valued at $3,315,200. The trade was a 28.07% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Marathon Petroleum Stock Down 1.2%

Shares of MPC opened at $180.18 on Friday. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $186.28. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $54.78 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 3.68 and a beta of 0.97. The stock’s 50-day moving average price is $172.81 and its 200-day moving average price is $157.21.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The firm had revenue of $34.10 billion for the quarter, compared to the consensus estimate of $31.70 billion. During the same quarter in the prior year, the business earned $4.12 earnings per share. The company’s revenue was down 11.1% compared to the same quarter last year. On average, sell-side analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were given a dividend of $0.91 per share. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a yield of 2.0%. Marathon Petroleum’s dividend payout ratio is currently 54.01%.

Analysts Set New Price Targets

A number of brokerages have recently commented on MPC. UBS Group lifted their target price on Marathon Petroleum from $175.00 to $203.00 and gave the stock a “buy” rating in a report on Thursday, July 10th. Bank of America boosted their price objective on Marathon Petroleum from $184.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, September 3rd. Wall Street Zen upgraded Marathon Petroleum from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Piper Sandler raised their price objective on Marathon Petroleum from $184.00 to $222.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, July 11th. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus price target of $189.36.

Marathon Petroleum Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. 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 and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.