LSV Asset Management Reduces Stake in Marathon Petroleum Co. (NYSE:MPC)

LSV Asset Management cut its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,678,615 shares of the oil and gas company’s stock after selling 31,306 shares during the period. LSV Asset Management owned 0.48% of Marathon Petroleum worth $291,206,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FinTrust Capital Advisors LLC grew its holdings in shares of Marathon Petroleum by 400.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 100 shares during the period. Crewe Advisors LLC bought a new position in Marathon Petroleum in the first quarter worth $29,000. ICA Group Wealth Management LLC purchased a new position in Marathon Petroleum during the fourth quarter valued at $30,000. Vima LLC bought a new stake in shares of Marathon Petroleum during the 4th quarter valued at $30,000. Finally, Manchester Capital Management LLC grew its position in shares of Marathon Petroleum by 97.2% in the 4th quarter. Manchester Capital Management LLC now owns 215 shares of the oil and gas company’s stock worth $32,000 after buying an additional 106 shares during the period. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of MPC traded down $2.46 during mid-day trading on Friday, hitting $166.00. 2,242,556 shares of the company traded hands, compared to its average volume of 2,623,754. The stock has a market cap of $58.49 billion, a price-to-earnings ratio of 8.29, a P/E/G ratio of 2.33 and a beta of 1.38. The stock has a 50-day moving average price of $171.21 and a two-hundred day moving average price of $180.32. Marathon Petroleum Co. has a 1 year low of $139.32 and a 1 year high of $221.11. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, beating the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The firm had revenue of $38.36 billion for the quarter, compared to analysts’ expectations of $36.66 billion. During the same period in the prior year, the firm earned $5.32 EPS. The company’s revenue was up 4.2% compared to the same quarter last year. Equities analysts anticipate that Marathon Petroleum Co. will post 12.68 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Wednesday, August 21st. Marathon Petroleum’s payout ratio is currently 16.48%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MPC. Wells Fargo & Company lowered their price target on shares of Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. TD Cowen boosted their price target on Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Wolfe Research started coverage on Marathon Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price target on the stock. JPMorgan Chase & Co. lowered their price objective on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Finally, Raymond James cut their target price on Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating on the stock in a research note on Thursday, May 30th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $198.38.

About Marathon Petroleum

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.