Forum Financial Management LP Decreases Stock Holdings in Marathon Petroleum Corporation $MPC

Forum Financial Management LP lowered its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 85.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,050 shares of the oil and gas company’s stock after selling 6,168 shares during the period. Forum Financial Management LP’s holdings in Marathon Petroleum were worth $256,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MPC. Norges Bank purchased a new stake in Marathon Petroleum in the fourth quarter worth approximately $472,312,000. Capital Wealth Planning LLC lifted its holdings in shares of Marathon Petroleum by 49,392.0% during the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock valued at $245,157,000 after buying an additional 1,495,097 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Marathon Petroleum by 3,816.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company’s stock worth $212,517,000 after buying an additional 1,273,386 shares during the last quarter. Man Group plc boosted its stake 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 buying an additional 543,788 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Marathon Petroleum by 104.8% in the fourth quarter. Victory Capital Management Inc. now owns 1,055,897 shares of the oil and gas company’s stock worth $171,721,000 after acquiring an additional 540,283 shares during the period. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

NYSE MPC opened at $264.77 on Thursday. The business’s fifty day moving average is $250.30 and its 200 day moving average is $218.02. Marathon Petroleum Corporation has a fifty-two week low of $158.00 and a fifty-two week high of $272.46. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18. The company has a market capitalization of $77.30 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 0.38 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last issued its quarterly 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 business had revenue of $34.20 billion during the quarter, compared to analysts’ expectations of $33.42 billion. During the same quarter in the prior year, the business posted ($0.24) earnings per share. The business’s quarterly revenue was up 8.5% on a year-over-year basis. Sell-side analysts predict that Marathon Petroleum Corporation will post 32.27 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

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

Wall Street Analyst Weigh In

MPC has been the subject of a number of research reports. Raymond James Financial upped their price objective on Marathon Petroleum from $285.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, June 10th. Piper Sandler boosted their price target on Marathon Petroleum from $197.00 to $228.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. JPMorgan Chase & Co. upped their price target on shares of Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. The Goldman Sachs Group increased their price objective on shares of Marathon Petroleum from $264.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Bank of America raised their price objective on shares of Marathon Petroleum from $224.00 to $260.00 in a report on Tuesday, May 26th. Ten analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $272.62.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the sale, the vice president owned 16,900 shares in the company, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.17% of the company’s stock.

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.