Meyer Handelman Co. Sells 8,257 Shares of Marathon Petroleum Corporation $MPC

Meyer Handelman Co. lowered its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 3.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 219,428 shares of the oil and gas company’s stock after selling 8,257 shares during the period. Marathon Petroleum makes up about 1.7% of Meyer Handelman Co.’s holdings, making the stock its 16th biggest position. Meyer Handelman Co. owned 0.07% of Marathon Petroleum worth $53,580,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in MPC. State Street Corp grew its position in shares of Marathon Petroleum by 0.3% during the 4th quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company’s stock worth $2,916,660,000 after buying an additional 47,896 shares during the period. Boston Partners lifted its position in shares of Marathon Petroleum by 2.3% during 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 acquiring an additional 141,691 shares during the period. Norges Bank bought a new position in Marathon Petroleum during the fourth quarter worth $472,312,000. Charles Schwab Investment Management Inc. grew its holdings in Marathon Petroleum by 0.4% in the fourth 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 purchasing an additional 11,693 shares during the period. Finally, Invesco Ltd. grew its holdings in Marathon Petroleum by 2.7% in the fourth quarter. Invesco Ltd. now owns 2,600,191 shares of the oil and gas company’s stock worth $422,869,000 after purchasing an additional 67,600 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Zacks Research lowered shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 17th. Raymond James Financial boosted their target price on Marathon Petroleum from $285.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, June 10th. Mizuho upped their price target on Marathon Petroleum from $224.00 to $284.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. TD Cowen increased their price target on Marathon Petroleum to $320.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Barclays raised their price objective on Marathon Petroleum from $230.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Ten equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $272.94.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the company’s 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 completion of the sale, the vice president directly owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. This represents a 27.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.17% of the stock is owned by insiders.

Marathon Petroleum Stock Up 2.5%

Marathon Petroleum stock opened at $252.79 on Friday. The firm has a market capitalization of $73.80 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 0.38 and a beta of 0.52. The firm’s fifty day moving average price is $247.18 and its two-hundred day moving average price is $216.09. Marathon Petroleum Corporation has a 1-year low of $158.00 and a 1-year high of $272.46. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.91. The business had revenue of $34.20 billion for the quarter, compared to analysts’ expectations of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.24) EPS. On average, equities research analysts predict that Marathon Petroleum Corporation will post 31.35 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently declared 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. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Wednesday, May 20th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 26.11%.

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.