Everence Capital Management Inc. Reduces Position in Marathon Petroleum Corp (MPC)

Everence Capital Management Inc. cut its position in shares of Marathon Petroleum Corp (NYSE:MPC) by 16.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,641 shares of the oil and gas company’s stock after selling 3,010 shares during the period. Everence Capital Management Inc.’s holdings in Marathon Petroleum were worth $936,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Reliance Trust Co. of Delaware raised its position in Marathon Petroleum by 2.4% during the fourth quarter. Reliance Trust Co. of Delaware now owns 6,595 shares of the oil and gas company’s stock valued at $389,000 after purchasing an additional 157 shares during the period. Alpha Cubed Investments LLC raised its position in Marathon Petroleum by 1.7% during the fourth quarter. Alpha Cubed Investments LLC now owns 9,810 shares of the oil and gas company’s stock valued at $579,000 after purchasing an additional 162 shares during the period. FTB Advisors Inc. raised its position in Marathon Petroleum by 5.5% during the fourth quarter. FTB Advisors Inc. now owns 3,174 shares of the oil and gas company’s stock valued at $187,000 after purchasing an additional 165 shares during the period. Squar Milner Financial Services LLC raised its position in Marathon Petroleum by 7.7% during the first quarter. Squar Milner Financial Services LLC now owns 2,353 shares of the oil and gas company’s stock valued at $140,000 after purchasing an additional 168 shares during the period. Finally, Accurate Investment Solutions Inc. raised its position in Marathon Petroleum by 4.1% during the first quarter. Accurate Investment Solutions Inc. now owns 4,370 shares of the oil and gas company’s stock valued at $262,000 after purchasing an additional 173 shares during the period. 79.30% of the stock is owned by institutional investors.

A number of equities research analysts have issued reports on the company. Cowen downgraded Marathon Petroleum from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $90.00 to $65.00 in a research report on Friday. Credit Suisse Group restated an “outperform” rating and set a $80.00 price objective (down from $95.00) on shares of Marathon Petroleum in a research report on Monday. Royal Bank of Canada decreased their price objective on Marathon Petroleum from $71.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Raymond James decreased their price objective on Marathon Petroleum from $90.00 to $85.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 10th. Finally, Macquarie initiated coverage on Marathon Petroleum in a research report on Tuesday, February 5th. They set an “outperform” rating and a $67.18 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $86.27.

In other news, CEO Gary R. Heminger sold 187,142 shares of the stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $65.00, for a total value of $12,164,230.00. Following the sale, the chief executive officer now directly owns 434,166 shares in the company, valued at $28,220,790. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.06% of the company’s stock.

Shares of NYSE MPC opened at $50.72 on Tuesday. The company has a current ratio of 1.36, a quick ratio of 0.62 and a debt-to-equity ratio of 0.61. Marathon Petroleum Corp has a fifty-two week low of $50.60 and a fifty-two week high of $88.45. The company has a market capitalization of $35.67 billion, a PE ratio of 7.48, a price-to-earnings-growth ratio of 1.25 and a beta of 1.35.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.10). Marathon Petroleum had a return on equity of 12.69% and a net margin of 2.56%. The business had revenue of $28.62 billion during the quarter, compared to analysts’ expectations of $27.70 billion. During the same quarter in the previous year, the company posted $0.08 earnings per share. The company’s quarterly revenue was up 50.7% compared to the same quarter last year. On average, equities research analysts anticipate that Marathon Petroleum Corp will post 5.26 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be issued a $0.53 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $2.12 annualized dividend and a dividend yield of 4.18%. Marathon Petroleum’s payout ratio is 31.27%.

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Marathon Petroleum Profile

Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Retail, and Midstream. The Refining & Marketing segment refines crude oil and other feed stocks at its 16 refineries in the West Coast, Gulf Coast, and Mid-Continent regions of the United States; and purchases refined products and ethanol for resale.

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

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