Marathon Petroleum Corporation $MPC Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC decreased its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 2.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 166,246 shares of the oil and gas company’s stock after selling 3,553 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of Marathon Petroleum worth $27,615,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Activest Wealth Management increased its stake in Marathon Petroleum by 290.2% during the 2nd quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock worth $27,000 after buying an additional 119 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its stake in Marathon Petroleum by 1,546.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock worth $31,000 after buying an additional 201 shares in the last quarter. Hughes Financial Services LLC purchased a new stake in Marathon Petroleum during the 1st quarter worth approximately $32,000. WPG Advisers LLC purchased a new stake in Marathon Petroleum during the 1st quarter worth approximately $32,000. Finally, Decker Retirement Planning Inc. increased its stake in Marathon Petroleum by 1,621.4% during the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company’s stock worth $35,000 after buying an additional 227 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on MPC shares. Citigroup boosted their price objective on Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. Evercore ISI boosted their price objective on Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a research note on Friday, September 19th. Wells Fargo & Company started coverage on Marathon Petroleum in a research note on Friday. They set an “overweight” rating and a $214.00 price objective for the company. Morgan Stanley upped their price target on Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, October 3rd. Finally, Raymond James Financial restated an “outperform” rating and issued a $203.00 price target (up from $199.00) on shares of Marathon Petroleum in a research report on Friday. Eight analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average price target of $200.31.

Insiders Place Their Bets

In related news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the transaction, the insider directly owned 28,700 shares in the company, valued at approximately $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.21% of the company’s stock.

Marathon Petroleum Price Performance

MPC stock opened at $184.14 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. The business has a 50 day simple moving average of $180.61 and a 200-day simple moving average of $164.76. The firm has a market capitalization of $55.98 billion, a PE ratio of 27.32, a price-to-earnings-growth ratio of 2.83 and a beta of 0.90. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $201.61.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.74. The company had revenue of $34.10 billion during the quarter, compared to analyst estimates of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The firm’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $4.12 earnings per share. Equities research analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.0%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio is presently 54.01%.

About Marathon Petroleum

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.