Gateway Investment Advisers LLC Sells 1,903 Shares of Marathon Petroleum Co. (NYSE:MPC)

Gateway Investment Advisers LLC lessened its position in Marathon Petroleum Co. (NYSE:MPC) by 4.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,767 shares of the oil and gas company’s stock after selling 1,903 shares during the period. Gateway Investment Advisers LLC’s holdings in Marathon Petroleum were worth $5,990,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC grew its holdings in Marathon Petroleum by 44.5% during the 4th quarter. V Square Quantitative Management LLC now owns 5,939 shares of the oil and gas company’s stock worth $881,000 after acquiring an additional 1,828 shares during the last quarter. Garde Capital Inc. acquired a new stake in Marathon Petroleum in the fourth quarter valued at $165,000. Raleigh Capital Management Inc. raised its position in Marathon Petroleum by 5.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 1,492 shares of the oil and gas company’s stock worth $221,000 after purchasing an additional 77 shares during the last quarter. Scarborough Advisors LLC lifted its holdings in Marathon Petroleum by 10.7% during the 4th quarter. Scarborough Advisors LLC now owns 2,174 shares of the oil and gas company’s stock worth $323,000 after buying an additional 210 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of Marathon Petroleum in the 4th quarter valued at about $1,700,000. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Stock Down 0.4 %

Marathon Petroleum stock opened at $164.26 on Friday. The firm has a market capitalization of $57.87 billion, a price-to-earnings ratio of 8.20, a price-to-earnings-growth ratio of 2.65 and a beta of 1.37. The firm’s fifty day moving average price is $168.89 and its two-hundred day moving average price is $177.20. Marathon Petroleum Co. has a 1-year low of $140.98 and a 1-year high of $221.11. 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 released its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The business had revenue of $38.36 billion during the quarter, compared to the consensus estimate of $36.66 billion. During the same quarter in the previous year, the business earned $5.32 EPS. The company’s quarterly revenue was up 4.2% on a year-over-year basis. On average, equities research analysts predict that Marathon Petroleum Co. will post 10.22 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio is 16.48%.

Wall Street Analyst Weigh In

MPC has been the topic of a number of recent analyst reports. Morgan Stanley cut their price objective on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Jefferies Financial Group upped their price objective on shares of Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Scotiabank lowered their target price on shares of Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a research note on Thursday. Wolfe Research initiated coverage on shares of Marathon Petroleum in a research report on Thursday, July 18th. They set an “outperform” rating and a $200.00 price target on the stock. Finally, Barclays lowered their price objective on Marathon Petroleum from $180.00 to $168.00 and set an “overweight” rating for the company in a research report on Thursday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $190.73.

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.