CCM Investment Advisers LLC Sells 2,181 Shares of Marathon Petroleum Corporation $MPC

CCM Investment Advisers LLC trimmed its stake in Marathon Petroleum Corporation (NYSE:MPCFree Report) by 2.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,123 shares of the oil and gas company’s stock after selling 2,181 shares during the period. Marathon Petroleum comprises approximately 1.7% of CCM Investment Advisers LLC’s investment portfolio, making the stock its 18th biggest position. CCM Investment Advisers LLC’s holdings in Marathon Petroleum were worth $18,099,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MPC. Norges Bank bought a new position in shares of Marathon Petroleum during the fourth quarter worth about $472,312,000. Capital Wealth Planning LLC lifted its stake in shares of Marathon Petroleum by 49,392.0% in the fourth quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock worth $245,157,000 after acquiring an additional 1,495,097 shares during the period. Pacer Advisors Inc. boosted its holdings in Marathon Petroleum by 3,816.8% in the fourth quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company’s stock valued at $212,517,000 after acquiring an additional 1,273,386 shares during the last quarter. GHE LLC increased its position in Marathon Petroleum by 1,939.8% during the 1st quarter. GHE LLC now owns 649,542 shares of the oil and gas company’s stock valued at $158,605,000 after purchasing an additional 617,699 shares during the period. Finally, Man Group plc lifted its position in shares of Marathon Petroleum by 2,175.0% in the 4th quarter. Man Group plc now owns 568,790 shares of the oil and gas company’s stock worth $92,502,000 after purchasing an additional 543,788 shares during the period. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $314.18 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a twelve month low of $158.00 and a twelve month high of $326.92. The company has a fifty day moving average of $272.91 and a 200-day moving average of $236.86. The firm has a market capitalization of $91.72 billion, a P/E ratio of 20.51, a P/E/G ratio of 0.20 and a beta of 0.52.

Marathon Petroleum (NYSE:MPCGet Free Report) last issued its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.91. The business had revenue of $34.20 billion for the quarter, compared to analyst estimates of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. Marathon Petroleum’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.24) earnings per share. As a group, sell-side analysts anticipate that Marathon Petroleum Corporation will post 43.19 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio is 26.11%.

Insider Activity

In other news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the sale, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. This trade represents a 27.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.17% of the stock is owned by company insiders.

Marathon Petroleum News Roundup

Here are the key news stories impacting Marathon Petroleum this week:

Analyst Upgrades and Downgrades

MPC has been the topic of a number of analyst reports. Jefferies Financial Group set a $335.00 price objective on shares of Marathon Petroleum and gave the company a “buy” rating in a research note on Sunday, July 12th. Wells Fargo & Company restated an “overweight” rating and issued a $344.00 target price on shares of Marathon Petroleum in a report on Monday, June 15th. UBS Group reaffirmed a “buy” rating and set a $321.00 price target on shares of Marathon Petroleum in a research report on Friday, July 10th. Bank of America increased their price target on Marathon Petroleum from $224.00 to $260.00 in a report on Tuesday, May 26th. Finally, Mizuho boosted their price objective on Marathon Petroleum from $224.00 to $284.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average target price of $298.69.

Read Our Latest Stock Analysis on MPC

Marathon Petroleum Profile

(Free Report)

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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