Pallas Capital Advisors LLC Has $445,000 Stock Position in Marathon Petroleum Corporation $MPC

Pallas Capital Advisors LLC trimmed its position in Marathon Petroleum Corporation (NYSE:MPC) by 62.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,678 shares of the oil and gas company’s stock after selling 4,483 shares during the period. Pallas Capital Advisors LLC’s holdings in Marathon Petroleum were worth $445,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MPC. Vanguard Group Inc. lifted its position in 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 worth $5,090,611,000 after purchasing an additional 3,834,501 shares during the period. Boston Partners grew its stake in shares of 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 worth $791,274,000 after acquiring an additional 2,011,810 shares during the period. Wellington Management Group LLP raised its holdings in shares of Marathon Petroleum by 18.7% in 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 acquiring an additional 1,862,674 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Marathon Petroleum by 14,969.1% during the 1st quarter. GAMMA Investing LLC now owns 1,540,963 shares of the oil and gas company’s stock valued at $224,503,000 after buying an additional 1,530,737 shares in the last quarter. Finally, Nuveen LLC bought a new position in Marathon Petroleum during the 1st quarter worth approximately $147,122,000. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Stock Up 0.2%

Shares of NYSE MPC opened at $185.32 on Friday. The stock has a market cap of $56.34 billion, a P/E ratio of 27.50, a P/E/G ratio of 3.43 and a beta of 0.97. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $186.28. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. The firm has a 50 day moving average price of $173.21 and a 200 day moving average price of $158.57.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data 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. The business had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The firm’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.12 earnings per share. Analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 54.01%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Raymond James Financial lifted their price target on Marathon Petroleum from $195.00 to $199.00 and gave the company an “outperform” rating in a research report on Tuesday, September 9th. Morgan Stanley raised their price objective on Marathon Petroleum from $160.00 to $182.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. Evercore ISI lifted their price target on Marathon Petroleum from $170.00 to $210.00 and gave the company an “in-line” rating in a report on Friday. Mizuho boosted their price objective on Marathon Petroleum from $184.00 to $188.00 and gave the company a “neutral” rating in a report on Monday, September 15th. Finally, Wells Fargo & Company upped their price target on Marathon Petroleum from $182.00 to $205.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. 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.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus target price of $192.50.

Insider Activity at Marathon Petroleum

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

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.