Marathon Petroleum Corporation $MPC Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp trimmed its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 46.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 72,414 shares of the oil and gas company’s stock after selling 61,635 shares during the period. Van ECK Associates Corp’s holdings in Marathon Petroleum were worth $18,514,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in MPC. Solstein Capital LLC purchased a new position in shares of Marathon Petroleum in the 2nd quarter worth about $26,000. Caitlin John LLC purchased a new stake in shares of Marathon Petroleum during the 2nd quarter worth about $26,000. Bell Investment Advisors Inc acquired a new stake in Marathon Petroleum during the 2nd quarter worth approximately $27,000. Navalign LLC acquired a new position in Marathon Petroleum during the fourth quarter valued at approximately $30,000. Finally, Berbice Capital Management LLC grew its stake in Marathon Petroleum by 100.0% during the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock worth $33,000 after buying an additional 100 shares during the period. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Marathon Petroleum news, SVP Shawn M. Lyon sold 2,500 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the transaction, the senior vice president owned 12,619 shares of the company’s stock, valued at $4,416,650. This trade represents a 16.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Molly R. Benson sold 17,196 shares of Marathon Petroleum stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $358.57, for a total value of $6,165,969.72. Following the completion of the transaction, the insider owned 30,334 shares of the company’s stock, valued at approximately $10,876,862.38. The trade was a 36.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 26,032 shares of company stock valued at $8,744,213. Company insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

MPC has been the topic of several research reports. BMO Capital Markets reissued an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, June 12th. Piper Sandler boosted their price target on Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Citigroup lifted their price objective on shares of Marathon Petroleum from $303.00 to $318.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. TD Cowen upped their target price on shares of Marathon Petroleum from $357.00 to $375.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, Barclays raised their price target on shares of Marathon Petroleum from $289.00 to $321.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $312.50.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $369.00 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $107.72 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 0.24 and a beta of 0.52. Marathon Petroleum Corporation has a twelve month low of $161.93 and a twelve month high of $369.12. The business has a 50 day simple moving average of $308.87 and a 200-day simple moving average of $260.60.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.27 by $3.46. The firm had revenue of $51.99 billion for the quarter, compared to analysts’ expectations of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The firm’s revenue for the quarter was up 53.5% on a year-over-year basis. During the same period last year, the business posted $3.96 earnings per share. As a group, equities research analysts expect that Marathon Petroleum Corporation will post 46.66 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 13.75%.

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.