Glenmede Trust Co. NA Sells 1,807 Shares of Marathon Petroleum Corporation $MPC

Glenmede Trust Co. NA lowered its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,535 shares of the oil and gas company’s stock after selling 1,807 shares during the quarter. Glenmede Trust Co. NA’s holdings in Marathon Petroleum were worth $9,409,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp boosted its holdings in Marathon Petroleum by 0.3% during the fourth quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company’s stock worth $2,916,660,000 after purchasing an additional 47,896 shares during the last quarter. Boston Partners increased its stake in Marathon Petroleum by 2.3% in the 3rd quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock valued at $1,214,522,000 after buying an additional 141,691 shares during the last quarter. Norges Bank bought a new stake in Marathon Petroleum during the 4th quarter worth about $472,312,000. Charles Schwab Investment Management Inc. lifted its position in Marathon Petroleum by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,818,361 shares of the oil and gas company’s stock worth $458,350,000 after buying an additional 11,693 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Marathon Petroleum by 2.7% during the 4th quarter. Invesco Ltd. now owns 2,600,191 shares of the oil and gas company’s stock worth $422,869,000 after buying an additional 67,600 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Zacks Research lowered shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 17th. UBS Group reaffirmed a “buy” rating and issued a $321.00 target price on shares of Marathon Petroleum in a report on Friday, July 10th. Jefferies Financial Group set a $335.00 target price on shares of Marathon Petroleum and gave the company a “buy” rating in a research note on Sunday, July 12th. Finally, Mizuho lifted their price target on Marathon Petroleum from $224.00 to $284.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and a consensus price target of $298.69.

Marathon Petroleum Trading Down 2.9%

Shares of Marathon Petroleum stock opened at $307.20 on Tuesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73. The business has a fifty day simple moving average of $275.17 and a two-hundred day simple moving average of $238.78. Marathon Petroleum Corporation has a 1 year low of $158.00 and a 1 year high of $326.92. The company has a market capitalization of $89.68 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 0.20 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating the consensus estimate of $0.74 by $0.91. The firm had revenue of $34.20 billion for the quarter, compared to the consensus estimate of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.24) earnings per share. Research analysts forecast that Marathon Petroleum Corporation will post 43.19 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a $1.00 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a yield of 1.3%. Marathon Petroleum’s dividend payout ratio is 26.11%.

Insiders Place Their Bets

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the transaction, the vice president directly owned 16,900 shares of the company’s stock, valued at $4,543,058. This represents a 27.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

About Marathon Petroleum

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.