Burney Co. Cuts Holdings in Marathon Petroleum Corporation $MPC

Burney Co. lessened its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 11.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,248 shares of the oil and gas company’s stock after selling 3,169 shares during the quarter. Burney Co.’s holdings in Marathon Petroleum were worth $6,165,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of MPC. Diversified Trust Co. raised its holdings in Marathon Petroleum by 39.3% during the 4th quarter. Diversified Trust Co. now owns 15,675 shares of the oil and gas company’s stock valued at $2,549,000 after buying an additional 4,419 shares during the period. USA Financial Formulas bought a new stake in Marathon Petroleum during the 4th quarter valued at about $791,000. North Dakota State Investment Board purchased a new stake in shares of Marathon Petroleum in the fourth quarter valued at approximately $1,714,000. KBC Group NV lifted its holdings in shares of Marathon Petroleum by 22.4% in the 4th quarter. KBC Group NV now owns 225,837 shares of the oil and gas company’s stock worth $36,728,000 after buying an additional 41,259 shares during the period. Finally, KKM Financial LLC lifted its stake in Marathon Petroleum by 27.6% in the third quarter. KKM Financial LLC now owns 26,202 shares of the oil and gas company’s stock worth $5,050,000 after acquiring an additional 5,661 shares during the period. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Trading Up 1.0%

NYSE MPC opened at $269.03 on Tuesday. Marathon Petroleum Corporation has a 52 week low of $158.00 and a 52 week high of $272.46. The company has a 50 day moving average price of $252.10 and a 200 day moving average price of $219.16. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31. The firm has a market cap of $78.54 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 0.39 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The company had revenue of $34.20 billion during the quarter, compared to the consensus estimate of $33.42 billion. During the same period last year, the firm earned ($0.24) earnings per share. Marathon Petroleum’s revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Marathon Petroleum Corporation will post 32.96 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Wednesday, May 20th. Marathon Petroleum’s dividend payout ratio is currently 26.11%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Bank of America increased their price objective on shares of Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. JPMorgan Chase & Co. boosted their price objective on shares of Marathon Petroleum from $235.00 to $257.00 in a research note on Wednesday, May 6th. TD Cowen lowered their target price on Marathon Petroleum from $320.00 to $315.00 and set a “buy” rating for the company in a report on Monday, June 29th. Jefferies Financial Group increased their target price on Marathon Petroleum from $279.00 to $296.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Finally, Mizuho boosted their price target on Marathon Petroleum from $224.00 to $284.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. Ten equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $272.62.

Insider Buying and Selling at Marathon Petroleum

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

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.