Envestnet Portfolio Solutions Inc. Decreases Holdings in Marathon Petroleum Co. (NYSE:MPC)

Envestnet Portfolio Solutions Inc. decreased its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 12.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,443 shares of the oil and gas company’s stock after selling 6,899 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Marathon Petroleum were worth $6,897,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MPC. Gladius Capital Management LP purchased a new stake in shares of Marathon Petroleum during the 3rd quarter worth approximately $26,000. Claro Advisors LLC lifted its stake in Marathon Petroleum by 32.5% in the 3rd quarter. Claro Advisors LLC now owns 1,710 shares of the oil and gas company’s stock valued at $279,000 after buying an additional 419 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Marathon Petroleum by 3.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 468,935 shares of the oil and gas company’s stock valued at $76,394,000 after buying an additional 15,434 shares in the last quarter. Aljian Capital Management LLC purchased a new stake in Marathon Petroleum in the 3rd quarter valued at approximately $464,000. Finally, Islay Capital Management LLC lifted its stake in Marathon Petroleum by 3.8% in the 3rd quarter. Islay Capital Management LLC now owns 7,284 shares of the oil and gas company’s stock valued at $1,187,000 after buying an additional 266 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 3.6 %

MPC stock opened at $146.27 on Tuesday. The company has a market cap of $45.57 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 3.11 and a beta of 1.39. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The business has a fifty day simple moving average of $148.48 and a 200-day simple moving average of $152.76. Marathon Petroleum Co. has a 52 week low of $130.54 and a 52 week high of $221.11.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.71. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The firm had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $31.94 billion. During the same period in the prior year, the firm earned $3.98 EPS. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. On average, equities research analysts expect that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 19th were issued a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.64 annualized dividend and a yield of 2.49%. Marathon Petroleum’s dividend payout ratio is currently 36.66%.

Analyst Upgrades and Downgrades

MPC has been the topic of a number of recent research reports. TD Cowen reaffirmed a “buy” rating and issued a $170.00 target price on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Wells Fargo & Company upped their target price on Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Mizuho reduced their target price on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Piper Sandler cut their price target on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Finally, Raymond James boosted their price target on Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.13.

Insider Activity at Marathon Petroleum

In other news, insider Ricky D. Hessling acquired 2,000 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was bought at an average cost of $134.72 per share, with a total value of $269,440.00. Following the transaction, the insider now directly owns 12,162 shares in the company, valued at approximately $1,638,464.64. This represents a 19.68 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Evan Bayh acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was purchased at an average cost of $133.70 per share, with a total value of $133,700.00. Following the completion of the transaction, the director now owns 69,305 shares in the company, valued at $9,266,078.50. The trade was a 1.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.21% of the stock is owned by insiders.

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.