Truvestments Capital LLC Sells 530 Shares of Marathon Petroleum Co. (NYSE:MPC)

Truvestments Capital LLC cut its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 31.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,130 shares of the oil and gas company’s stock after selling 530 shares during the period. Truvestments Capital LLC’s holdings in Marathon Petroleum were worth $228,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MPC. Dimensional Fund Advisors LP grew its stake in shares of Marathon Petroleum by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,153,636 shares of the oil and gas company’s stock worth $764,526,000 after acquiring an additional 137,341 shares during the period. Raymond James & Associates raised its stake in Marathon Petroleum by 1.9% during the 1st quarter. Raymond James & Associates now owns 4,178,977 shares of the oil and gas company’s stock valued at $842,064,000 after buying an additional 76,920 shares during the last quarter. Norges Bank bought a new position in shares of Marathon Petroleum during the 4th quarter valued at $500,685,000. Acadian Asset Management LLC boosted its stake in shares of Marathon Petroleum by 7.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company’s stock worth $335,241,000 after buying an additional 117,790 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Marathon Petroleum by 1.0% in the first quarter. Canada Pension Plan Investment Board now owns 1,213,056 shares of the oil and gas company’s stock worth $244,431,000 after acquiring an additional 12,536 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on MPC shares. Wolfe Research assumed coverage on Marathon Petroleum in a research report on Thursday, July 18th. They issued an “outperform” rating and a $200.00 target price on the stock. Piper Sandler dropped their price objective on shares of Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a report on Friday, June 14th. Scotiabank cut their target price on shares of Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. JPMorgan Chase & Co. dropped their price target on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Finally, Wells Fargo & Company decreased their target price on Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $193.64.

Marathon Petroleum Trading Up 0.7 %

Shares of MPC traded up $1.15 during trading hours on Friday, reaching $172.65. 1,789,399 shares of the company traded hands, compared to its average volume of 2,332,050. The stock’s fifty day moving average price is $171.80 and its 200 day moving average price is $178.08. The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. The firm has a market cap of $60.83 billion, a price-to-earnings ratio of 8.62, a PEG ratio of 2.07 and a beta of 1.40. Marathon Petroleum Co. has a 12-month low of $128.07 and a 12-month high of $221.11.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.25. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The company had revenue of $32.71 billion during the quarter, compared to analysts’ expectations of $32.07 billion. During the same period in the previous year, the company earned $6.09 EPS. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. Sell-side analysts forecast that Marathon Petroleum Co. will post 13.84 earnings per share for the current year.

Marathon Petroleum announced that its Board of Directors has authorized a share buyback plan on Tuesday, April 30th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas company to purchase up to 7.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

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.