Choreo LLC Decreases Stake in Marathon Petroleum Corporation $MPC

Choreo LLC decreased its position in Marathon Petroleum Corporation (NYSE:MPC) by 5.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,425 shares of the oil and gas company’s stock after selling 808 shares during the quarter. Choreo LLC’s holdings in Marathon Petroleum were worth $2,396,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of Marathon Petroleum by 30.9% during the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock worth $696,000 after purchasing an additional 1,178 shares during the last quarter. LPL Financial LLC raised its stake in Marathon Petroleum by 7.3% in the first quarter. LPL Financial LLC now owns 412,129 shares of the oil and gas company’s stock valued at $60,043,000 after buying an additional 27,937 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Marathon Petroleum by 5.2% during the 1st quarter. Mackenzie Financial Corp now owns 38,950 shares of the oil and gas company’s stock worth $5,675,000 after buying an additional 1,923 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of Marathon Petroleum by 1.5% during the 1st quarter. Federated Hermes Inc. now owns 205,611 shares of the oil and gas company’s stock worth $29,956,000 after acquiring an additional 2,974 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Marathon Petroleum during the 1st quarter worth about $429,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analysts Set New Price Targets

MPC has been the topic of several research analyst reports. Piper Sandler raised their target price on Marathon Petroleum from $220.00 to $231.00 and gave the stock a “neutral” rating in a research report on Friday, November 14th. Wall Street Zen raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Wells Fargo & Company lowered their target price on shares of Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marathon Petroleum in a research report on Wednesday, October 8th. Finally, Bank of America boosted their price target on shares of Marathon Petroleum from $184.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, September 3rd. Eight investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Hold” and an average price target of $202.14.

Marathon Petroleum Stock Performance

NYSE MPC opened at $191.86 on Friday. The firm has a market cap of $57.67 billion, a P/E ratio of 20.45, a P/E/G ratio of 0.98 and a beta of 0.90. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $202.29. The business’s 50-day moving average price is $191.50 and its 200 day moving average price is $177.11. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 EPS for the quarter, beating the consensus estimate of $3.00 by $0.01. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%.The firm had revenue of $34.81 billion during the quarter, compared to the consensus estimate of $31.06 billion. On average, equities research analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th will be given a $1.00 dividend. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. The ex-dividend date is Wednesday, November 19th. This represents a $4.00 dividend on an annualized basis and a yield of 2.1%. Marathon Petroleum’s payout ratio is 42.64%.

About Marathon Petroleum

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.