CCM Investment Advisers LLC Has $11.07 Million Position in Marathon Petroleum Co. (NYSE:MPC)

CCM Investment Advisers LLC cut its holdings in Marathon Petroleum Co. (NYSE:MPC) by 7.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 75,957 shares of the oil and gas company’s stock after selling 6,111 shares during the quarter. CCM Investment Advisers LLC’s holdings in Marathon Petroleum were worth $11,066,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of MPC. Fourth Dimension Wealth LLC acquired a new position in shares of Marathon Petroleum in the fourth quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Marathon Petroleum in the 4th quarter valued at about $27,000. Asset Planning Inc bought a new stake in shares of Marathon Petroleum in the fourth quarter valued at about $28,000. Sierra Ocean LLC acquired a new position in shares of Marathon Petroleum during the fourth quarter worth about $31,000. Finally, Cape Investment Advisory Inc. boosted its position in shares of Marathon Petroleum by 762.9% during the fourth quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock worth $42,000 after buying an additional 267 shares during the period. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Price Performance

NYSE:MPC opened at $165.04 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a 12-month low of $115.10 and a 12-month high of $183.31. The stock’s 50 day moving average price is $146.54 and its two-hundred day moving average price is $146.38. The firm has a market capitalization of $50.70 billion, a price-to-earnings ratio of 16.62, a P/E/G ratio of 3.11 and a beta of 0.89.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.16. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The business had revenue of $31.85 billion during the quarter, compared to the consensus estimate of $28.91 billion. During the same quarter last year, the firm posted $2.58 EPS. The company’s quarterly revenue was down 4.1% on a year-over-year basis. On average, analysts anticipate that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were paid a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $3.64 annualized dividend and a yield of 2.21%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 51.20%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Barclays raised their price target on shares of Marathon Petroleum from $141.00 to $159.00 and gave the stock an “overweight” rating in a research note on Monday, May 12th. Piper Sandler decreased their target price on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Wells Fargo & Company boosted their price target on shares of Marathon Petroleum from $180.00 to $182.00 and gave the stock an “overweight” rating in a research report on Wednesday. Morgan Stanley reduced their price objective on shares of Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Finally, Wall Street Zen upgraded Marathon Petroleum from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $176.21.

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.