Envestnet Portfolio Solutions Inc. Trims Position in Marathon Petroleum Corporation $MPC

Envestnet Portfolio Solutions Inc. cut its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 40.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,721 shares of the oil and gas company’s stock after selling 10,643 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Marathon Petroleum were worth $2,557,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Fifth Third Wealth Advisors LLC increased its stake in shares of Marathon Petroleum by 0.6% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 10,287 shares of the oil and gas company’s stock valued at $1,673,000 after buying an additional 57 shares during the period. Legacy Bridge LLC increased its stake in shares of Marathon Petroleum by 12.5% during the fourth quarter. Legacy Bridge LLC now owns 523 shares of the oil and gas company’s stock valued at $85,000 after buying an additional 58 shares during the period. Koshinski Asset Management Inc. increased its stake in shares of Marathon Petroleum by 0.7% during the fourth quarter. Koshinski Asset Management Inc. now owns 8,116 shares of the oil and gas company’s stock valued at $1,320,000 after buying an additional 59 shares during the period. CI Investments Inc. boosted its position in shares of Marathon Petroleum by 1.8% during the third quarter. CI Investments Inc. now owns 3,336 shares of the oil and gas company’s stock valued at $643,000 after purchasing an additional 60 shares in the last quarter. Finally, CVA Family Office LLC boosted its position in shares of Marathon Petroleum by 1.3% during the fourth quarter. CVA Family Office LLC now owns 4,569 shares of the oil and gas company’s stock valued at $743,000 after purchasing an additional 60 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marathon Petroleum

In other news, insider Ricky D. Hessling sold 1,810 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $224.78, for a total value of $406,851.80. Following the completion of the transaction, the insider owned 10,188 shares in the company, valued at $2,290,058.64. The trade was a 15.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 4,473 shares of company stock valued at $1,015,428 in the last three months. 0.17% of the stock is owned by insiders.

Marathon Petroleum Trading Up 2.7%

NYSE MPC opened at $255.22 on Friday. Marathon Petroleum Corporation has a 12 month low of $155.93 and a 12 month high of $264.14. The stock has a market cap of $74.51 billion, a P/E ratio of 16.66, a P/E/G ratio of 0.33 and a beta of 0.53. The stock’s fifty day moving average price is $238.34 and its 200-day moving average price is $205.61. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The firm had revenue of $34.20 billion for the quarter, compared to analysts’ expectations of $33.42 billion. During the same period in the prior year, the firm posted ($0.24) earnings per share. The company’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, equities analysts forecast that Marathon Petroleum Corporation will post 29.67 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be paid a $1.00 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $4.00 annualized dividend and a dividend yield of 1.6%. Marathon Petroleum’s payout ratio is currently 26.11%.

Analyst Ratings Changes

Several research firms recently weighed in on MPC. Mizuho lifted their price target on Marathon Petroleum from $205.00 to $224.00 and gave the company a “neutral” rating in a research report on Tuesday, March 17th. Wells Fargo & Company lifted their price target on Marathon Petroleum to $335.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. lifted their price target on Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Weiss Ratings lowered Marathon Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Finally, Barclays lifted their price target on Marathon Petroleum from $230.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $259.44.

Marathon Petroleum Profile

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.