Marathon Petroleum Corporation $MPC Stock: Private Management Group Inc. Cuts Position

Private Management Group Inc. lowered its stake in Marathon Petroleum Corporation (NYSE:MPC) by 11.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,000 shares of the oil and gas company’s stock after selling 5,000 shares during the period. Private Management Group Inc.’s holdings in Marathon Petroleum were worth $15,817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vaquero Private Wealth Ltd. purchased a new stake in shares of Marathon Petroleum during the third quarter worth approximately $39,000. Solstein Capital LLC purchased a new position in Marathon Petroleum in the second quarter worth approximately $26,000. Caitlin John LLC acquired a new position in Marathon Petroleum during the 2nd quarter worth approximately $26,000. Bell Investment Advisors Inc acquired a new position in Marathon Petroleum during the 2nd quarter worth approximately $27,000. Finally, MeadowBrook Investment Advisors LLC purchased a new stake in shares of Marathon Petroleum in the 3rd quarter valued at approximately $47,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Buying and Selling

In other news, VP Erin M. Brzezinski sold 570 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $362.79, for a total value of $206,790.30. Following the completion of the sale, the vice president directly owned 1,576 shares of the company’s stock, valued at approximately $571,757.04. This represents a 26.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Molly R. Benson sold 17,196 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the sale, the insider owned 30,334 shares of the company’s stock, valued at $10,876,862.38. This trade represents a 36.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 21,691 shares of company stock worth $7,780,127 in the last 90 days. Company insiders own 0.17% of the company’s stock.

Marathon Petroleum Stock Up 4.6%

Shares of NYSE MPC opened at $389.91 on Tuesday. The business has a 50-day moving average price of $422.11 and a 200 day moving average price of $296.41. The stock has a market cap of $106.16 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 0.10 and a beta of 0.53. The company has a quick ratio of 0.89, a current ratio of 1.45 and a debt-to-equity ratio of 1.10. Marathon Petroleum Corporation has a 52-week low of $161.93 and a 52-week high of $493.98.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, November 3rd. The oil and gas company reported $26.93 earnings per share for the quarter, beating the consensus estimate of $25.37 by $1.56. The business had revenue of $56.03 billion during the quarter, compared to the consensus estimate of $46.60 billion. Marathon Petroleum had a return on equity of 55.82% and a net margin of 8.27%. The company’s revenue was up 57.6% compared to the same quarter last year. During the same period in the prior year, the company earned $3.01 earnings per share. Equities research analysts forecast that Marathon Petroleum Corporation will post 66.31 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, December 10th. Investors of record on Wednesday, November 18th will be given a $1.00 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $4.00 annualized dividend and a yield of 1.0%. Marathon Petroleum’s dividend payout ratio is 13.75%.

Analyst Ratings Changes

Several research firms have recently issued reports on MPC. TD Cowen lifted their price objective on shares of Marathon Petroleum from $450.00 to $478.00 and gave the stock a “buy” rating in a research report on Thursday, October 22nd. Barclays increased their target price on Marathon Petroleum from $321.00 to $488.00 and gave the company an “overweight” rating in a report on Monday, October 12th. The Goldman Sachs Group raised their price target on Marathon Petroleum from $376.00 to $472.00 and gave the company a “buy” rating in a research note on Monday, September 21st. Raymond James Financial lifted their price target on Marathon Petroleum from $350.00 to $445.00 and gave the stock an “outperform” rating in a report on Monday, September 14th. Finally, Citigroup upped their price objective on Marathon Petroleum from $318.00 to $518.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $425.12.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation is an integrated downstream energy company focused on refining, marketing, and transporting petroleum products. Its refineries produce fuels and other products, including gasoline, diesel, jet fuel, asphalt, and petrochemical feedstocks.

The company sells transportation fuels and related products through a network of branded locations and other wholesale and commercial channels, primarily in the United States. Its midstream operations, conducted largely through its affiliated partnership MPLX, include gathering, processing, and transporting natural gas and natural gas liquids, as well as storing and transporting crude oil and refined products.

Marathon Petroleum was established as an independent company in 2011, when it was spun off from Marathon Oil Corporation.