Zhang Financial LLC Cuts Stock Position in Marathon Petroleum Corporation $MPC

Zhang Financial LLC lowered its position in Marathon Petroleum Corporation (NYSE:MPC) by 14.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,478 shares of the oil and gas company’s stock after selling 243 shares during the period. Zhang Financial LLC’s holdings in Marathon Petroleum were worth $246,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of MPC. Brighton Jones LLC grew its position in shares of Marathon Petroleum by 30.9% in the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock worth $696,000 after buying an additional 1,178 shares during the last quarter. Ameritas Advisory Services LLC grew its position in shares of Marathon Petroleum by 11.0% in the 1st quarter. Ameritas Advisory Services LLC now owns 3,159 shares of the oil and gas company’s stock worth $445,000 after buying an additional 312 shares during the last quarter. Valley National Advisers Inc. grew its position in shares of Marathon Petroleum by 26.7% in the 1st quarter. Valley National Advisers Inc. now owns 498 shares of the oil and gas company’s stock worth $72,000 after buying an additional 105 shares during the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Marathon Petroleum in the 1st quarter worth approximately $35,000. Finally, Deseret Mutual Benefit Administrators grew its position in shares of Marathon Petroleum by 6.8% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 1,600 shares of the oil and gas company’s stock worth $233,000 after buying an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Buying and Selling

In related news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the sale, the insider directly owned 28,700 shares of the company’s stock, valued at approximately $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MPC shares. Weiss Ratings reissued a “hold (c)” rating on shares of Marathon Petroleum in a research report on Wednesday, October 8th. TD Cowen dropped their target price on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. UBS Group boosted their target price on shares of Marathon Petroleum from $203.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Citigroup boosted their target price on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. Finally, Barclays boosted their target price on shares of Marathon Petroleum from $176.00 to $194.00 and gave the stock an “overweight” rating in a research report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average target price of $200.31.

Marathon Petroleum Stock Performance

Shares of NYSE MPC opened at $192.20 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $201.61. The company has a 50 day simple moving average of $184.75 and a two-hundred day simple moving average of $168.45. The stock has a market cap of $58.43 billion, a price-to-earnings ratio of 28.52, a PEG ratio of 4.11 and a beta of 0.90.

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

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.