16,959 Marathon Petroleum Corporation $MPC Shares Sold by Turn8 Private Wealth Inc.

Turn8 Private Wealth Inc. trimmed its position in Marathon Petroleum Corporation (NYSE:MPC) by 91.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,515 shares of the oil and gas company’s stock after selling 16,959 shares during the period. Turn8 Private Wealth Inc.’s holdings in Marathon Petroleum were worth $599,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MPC. Vaquero Private Wealth Ltd. purchased a new stake in shares of Marathon Petroleum in the third quarter valued at about $39,000. Solstein Capital LLC acquired a new position in shares of Marathon Petroleum during the second quarter worth about $26,000. Caitlin John LLC acquired a new position in shares of Marathon Petroleum during the second quarter worth about $26,000. Bell Investment Advisors Inc acquired a new position in shares of Marathon Petroleum during the second quarter worth about $27,000. Finally, MeadowBrook Investment Advisors LLC purchased a new position in Marathon Petroleum during the third quarter worth about $47,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Jefferies Financial Group restated a “hold” rating and issued a $433.00 price objective on shares of Marathon Petroleum in a research report on Sunday, October 11th. Barclays boosted their target price on Marathon Petroleum from $321.00 to $488.00 and gave the stock an “overweight” rating in a research report on Monday, October 12th. Evercore set a $330.00 target price on Marathon Petroleum in a research note on Wednesday, August 5th. Morgan Stanley increased their target price on Marathon Petroleum from $453.00 to $458.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 4th. Finally, TD Cowen raised their price target on Marathon Petroleum from $450.00 to $478.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus target price of $425.12.

Marathon Petroleum Stock Up 0.0%

Shares of NYSE MPC opened at $389.90 on Wednesday. The company has a quick ratio of 1.09, 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. The firm has a 50-day moving average price of $422.42 and a 200 day moving average price of $297.48. The stock has a market capitalization of $106.16 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 0.10 and a beta of 0.53.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, November 3rd. The oil and gas company reported $26.93 earnings per share for the quarter, topping the consensus estimate of $25.37 by $1.56. Marathon Petroleum had a net margin of 8.27% and a return on equity of 55.82%. The company had revenue of $56.03 billion for the quarter, compared to analyst estimates of $46.60 billion. During the same period in the prior year, the business posted $3.01 earnings per share. The firm’s revenue for the quarter was up 57.6% compared to the same quarter last year. Equities research analysts anticipate that Marathon Petroleum Corporation will post 66.31 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $4.00 annualized dividend and a dividend yield of 1.0%. Marathon Petroleum’s payout ratio is 13.75%.

Insider Transactions at Marathon Petroleum

In related news, VP Erin M. Brzezinski sold 570 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total value of $206,790.30. Following the completion of the transaction, the vice president directly owned 1,576 shares of the company’s stock, valued at $571,757.04. This trade represents a 26.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Molly R. Benson sold 17,196 shares of Marathon Petroleum stock in a transaction on Monday, August 17th. The stock was sold at an average price of $358.57, for a total value of $6,165,969.72. Following the transaction, the insider directly owned 30,334 shares of the company’s stock, valued at approximately $10,876,862.38. This represents a 36.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 21,691 shares of company stock valued at $7,780,127 in the last quarter. 0.17% of the stock is currently owned by corporate insiders.

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.