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

Next Level Private LLC trimmed its position in Marathon Petroleum Co. (NYSE:MPC) by 19.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,998 shares of the oil and gas company’s stock after selling 486 shares during the period. Next Level Private LLC’s holdings in Marathon Petroleum were worth $347,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in 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 valued at $764,526,000 after purchasing an additional 137,341 shares in the last quarter. Raymond James & Associates boosted its position in Marathon Petroleum by 2.6% during the second quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company’s stock valued at $743,690,000 after purchasing an additional 107,915 shares during the last quarter. Norges Bank bought a new position in Marathon Petroleum in the fourth quarter valued at approximately $500,685,000. Price T Rowe Associates Inc. MD increased its position in shares of Marathon Petroleum by 1.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company’s stock worth $620,815,000 after purchasing an additional 31,100 shares during the last quarter. Finally, Boston Partners lifted its stake in Marathon Petroleum by 0.3% in the first quarter. Boston Partners now owns 2,773,050 shares of the oil and gas company’s stock valued at $558,390,000 after acquiring an additional 8,476 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MPC. Scotiabank cut their price target on Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Wells Fargo & Company dropped their price target on Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Wolfe Research started coverage on Marathon Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price objective on the stock. Piper Sandler dropped their price target on shares of Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a research report on Friday, June 14th. Finally, Raymond James reduced their price target on Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating on the stock in a research report on Thursday, May 30th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $198.38.

Marathon Petroleum Price Performance

MPC traded down $2.14 on Tuesday, reaching $174.98. The stock had a trading volume of 788,436 shares, compared to its average volume of 2,609,215. The firm has a 50-day moving average of $171.53 and a 200-day moving average of $180.36. Marathon Petroleum Co. has a fifty-two week low of $139.32 and a fifty-two week high of $221.11. The company has a market capitalization of $61.65 billion, a price-to-earnings ratio of 8.85, a price-to-earnings-growth ratio of 2.33 and a beta of 1.40. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86.

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

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a $0.825 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.89%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

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.