Marathon Petroleum Corporation $MPC Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. cut its position in Marathon Petroleum Corporation (NYSE:MPC) by 82.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 141,616 shares of the oil and gas company’s stock after selling 655,830 shares during the quarter. Panagora Asset Management Inc.’s holdings in Marathon Petroleum were worth $23,031,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MPC. Navalign LLC bought a new stake in Marathon Petroleum in the 4th quarter valued at about $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in Marathon Petroleum in the 4th quarter valued at about $31,000. Berbice Capital Management LLC lifted its position in Marathon Petroleum by 100.0% in the 4th quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 100 shares during the last quarter. WFA of San Diego LLC bought a new stake in Marathon Petroleum in the 2nd quarter valued at about $33,000. Finally, Ares Financial Consulting LLC bought a new stake in Marathon Petroleum in the 4th quarter valued at about $34,000. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Stock Performance

Shares of MPC opened at $250.88 on Tuesday. The company’s 50 day moving average price is $244.75 and its 200 day moving average price is $212.99. Marathon Petroleum Corporation has a 52 week low of $158.00 and a 52 week high of $272.46. The company has a market capitalization of $73.24 billion, a PE ratio of 16.38, a PEG ratio of 0.41 and a beta of 0.52. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The firm had revenue of $34.20 billion for the quarter, compared to the consensus estimate of $33.42 billion. During the same period in the previous year, the firm posted ($0.24) earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. Research analysts expect that Marathon Petroleum Corporation will post 31.05 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a yield of 1.6%. Marathon Petroleum’s payout ratio is presently 26.11%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Jefferies Financial Group lifted their price objective on shares of Marathon Petroleum from $279.00 to $296.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Citigroup boosted their target price on shares of Marathon Petroleum from $243.00 to $257.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. BMO Capital Markets reissued an “outperform” rating on shares of Marathon Petroleum in a research report on Friday. Weiss Ratings downgraded shares of Marathon Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Finally, The Goldman Sachs Group lifted their target price on shares of Marathon Petroleum from $264.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $272.94.

Insider Buying and Selling

In related news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the transaction, the vice president directly owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.17% of the company’s stock.

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.