DCM Advisors LLC Trims Stake in Marathon Petroleum Corporation $MPC

by · The Markets Daily

DCM Advisors LLC decreased its position in shares of Marathon Petroleum Corporation (NYSE:MPC – Free Report) by 8.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 32,225 shares of the oil and gas company’s stock after selling 3,111 shares during the period. Marathon Petroleum comprises about 2.5% of DCM Advisors LLC’s holdings, making the stock its 20th largest holding. DCM Advisors LLC’s holdings in Marathon Petroleum were worth $4,675,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Woodline Partners LP lifted its position in Marathon Petroleum by 38.3% in the 1st quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company’s stock valued at $3,889,000 after acquiring an additional 7,396 shares in the last quarter. MBB Public Markets I LLC bought a new position in Marathon Petroleum in the 1st quarter valued at approximately $309,000. Ascent Group LLC lifted its holdings in shares of Marathon Petroleum by 7.6% during the 1st quarter. Ascent Group LLC now owns 9,881 shares of the oil and gas company’s stock valued at $1,440,000 after buying an additional 695 shares during the period. Hamilton Capital LLC lifted its holdings in shares of Marathon Petroleum by 4.3% during the 1st quarter. Hamilton Capital LLC now owns 2,215 shares of the oil and gas company’s stock valued at $323,000 after buying an additional 92 shares during the period. Finally, Everstar Asset Management LLC bought a new position in shares of Marathon Petroleum during the 1st quarter valued at $3,443,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Activity

In other news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the sale, the insider owned 28,700 shares of the company’s stock, valued at approximately $4,678,100. The trade was a 27.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kim K.W. Rucker sold 7,392 shares of the business’s stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total value of $1,293,600.00. Following the completion of the sale, the director directly owned 18,944 shares in the company, valued at approximately $3,315,200. The trade was a 28.07% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MPC shares. Wolfe Research cut Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a report on Monday, July 14th. Evercore ISI initiated coverage on shares of Marathon Petroleum in a research report on Wednesday, June 18th. They issued an “in-line” rating and a $170.00 price target for the company. UBS Group raised their price target on Marathon Petroleum from $175.00 to $203.00 and gave the company a “buy” rating in a report on Thursday, July 10th. Scotiabank reissued an “outperform” rating on shares of Marathon Petroleum in a report on Friday, July 11th. Finally, TD Cowen decreased their price target on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Eight analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $186.57.

Read Our Latest Research Report on MPC

Marathon Petroleum Stock Performance

Shares of MPC opened at $180.98 on Tuesday. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $183.50. The stock has a fifty day moving average price of $172.04 and a 200-day moving average price of $156.36. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. The firm has a market cap of $55.02 billion, a PE ratio of 26.85, a P/E/G ratio of 3.64 and a beta of 0.97.

Marathon Petroleum (NYSE:MPC – Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The firm had revenue of $34.10 billion during the quarter, compared to analyst estimates of $31.70 billion. During the same quarter in the prior year, the business posted $4.12 EPS. The business’s revenue for the quarter was down 11.1% compared to the same quarter last year. Equities research analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio is presently 54.01%.

About Marathon Petroleum

(Free Report)

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.

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