Next Level Private LLC Sells 486 Shares of Marathon Petroleum Co. (NYSE:MPC)

Next Level Private LLC lowered its stake in Marathon Petroleum Co. (NYSE:MPC) by 19.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,998 shares of the oil and gas company’s stock after selling 486 shares during the quarter. Next Level Private LLC’s holdings in Marathon Petroleum were worth $347,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Marathon Petroleum in the 4th quarter worth $500,685,000. Granite Bay Wealth Management LLC bought a new position in shares of Marathon Petroleum in the second quarter worth about $219,537,000. Capital Wealth Planning LLC grew its position in shares of Marathon Petroleum by 10,902.9% during the first quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock worth $223,792,000 after purchasing an additional 1,100,536 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Marathon Petroleum by 980.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company’s stock valued at $118,785,000 after purchasing an additional 621,336 shares during the period. Finally, Schroder Investment Management Group lifted its holdings in Marathon Petroleum by 309.9% in the 4th quarter. Schroder Investment Management Group now owns 643,590 shares of the oil and gas company’s stock worth $95,483,000 after purchasing an additional 486,573 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Trading Down 1.2 %

Shares of Marathon Petroleum stock traded down $2.14 on Tuesday, reaching $174.98. The company had a trading volume of 788,436 shares, compared to its average volume of 2,609,215. The firm’s 50-day moving average price is $171.53 and its two-hundred day moving average price is $180.36. Marathon Petroleum Co. has a 1 year low of $139.32 and a 1 year high of $221.11. The firm has a market cap of $61.65 billion, a price-to-earnings ratio of 8.85, a P/E/G ratio of 2.33 and a beta of 1.40. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. The business had revenue of $38.36 billion for the quarter, compared to analysts’ expectations of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.32 earnings per share. As a group, research analysts predict that Marathon Petroleum Co. will post 12.68 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be paid a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Wednesday, August 21st. Marathon Petroleum’s payout ratio is currently 16.48%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MPC. TD Cowen increased their price objective on shares of Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Jefferies Financial Group lifted their price target on shares of Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a report on Monday, July 15th. StockNews.com cut shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Tudor Pickering upgraded Marathon Petroleum to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, JPMorgan Chase & Co. reduced their target price on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.38.

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.