Victory Capital Management Inc. Reduces Position in Marathon Petroleum Corporation $MPC

Victory Capital Management Inc. reduced its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 40.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 515,614 shares of the oil and gas company’s stock after selling 354,686 shares during the period. Victory Capital Management Inc.’s holdings in Marathon Petroleum were worth $99,379,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Alberta Investment Management Corp acquired a new position in shares of Marathon Petroleum in the 3rd quarter valued at $2,891,000. Los Angeles Capital Management LLC lifted its position in Marathon Petroleum by 459.5% in the second quarter. Los Angeles Capital Management LLC now owns 189,973 shares of the oil and gas company’s stock valued at $31,556,000 after acquiring an additional 156,019 shares during the last quarter. First Interstate Bank purchased a new stake in Marathon Petroleum in the third quarter valued at $5,050,000. Generali Asset Management SPA SGR grew its holdings in shares of Marathon Petroleum by 36.8% during the third quarter. Generali Asset Management SPA SGR now owns 41,225 shares of the oil and gas company’s stock worth $7,946,000 after purchasing an additional 11,082 shares during the last quarter. Finally, National Pension Service grew its holdings in shares of Marathon Petroleum by 1.7% during the third quarter. National Pension Service now owns 849,268 shares of the oil and gas company’s stock worth $163,688,000 after purchasing an additional 14,308 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

NYSE MPC opened at $221.20 on Thursday. The stock has a market capitalization of $65.20 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 1.37 and a beta of 0.69. The business’s 50 day moving average is $185.01 and its two-hundred day moving average is $185.60. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $222.05. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 1.27.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share for the quarter, beating analysts’ consensus estimates of $3.73 by $0.34. Marathon Petroleum had a return on equity of 13.90% and a net margin of 2.99%.The firm had revenue of $32.57 billion for the quarter, compared to the consensus estimate of $30.89 billion. During the same period in the previous year, the business earned $0.77 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. Research analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 18th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.8%. Marathon Petroleum’s dividend payout ratio is 29.96%.

Analyst Ratings Changes

A number of brokerages recently issued reports on MPC. Piper Sandler decreased their target price on Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. JPMorgan Chase & Co. reduced their price objective on Marathon Petroleum from $211.00 to $179.00 and set a “neutral” rating for the company in a research note on Tuesday, January 13th. UBS Group restated a “buy” rating and set a $221.00 target price on shares of Marathon Petroleum in a research report on Friday, February 6th. Jefferies Financial Group reduced their price target on shares of Marathon Petroleum from $216.00 to $205.00 and set a “buy” rating for the company in a research report on Monday, January 26th. Finally, TD Cowen increased their price target on shares of Marathon Petroleum from $183.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Eleven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $202.19.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.