Parkshore Wealth Management Inc. Sells 70 Shares of Marathon Petroleum Corporation $MPC

Parkshore Wealth Management Inc. trimmed its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,000 shares of the oil and gas company’s stock after selling 70 shares during the quarter. Parkshore Wealth Management Inc.’s holdings in Marathon Petroleum were worth $437,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MPC. Fourth Dimension Wealth LLC acquired a new stake in shares of Marathon Petroleum during the fourth quarter worth $26,000. CBIZ Investment Advisory Services LLC raised its stake in Marathon Petroleum by 1,546.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 201 shares in the last quarter. Hughes Financial Services LLC bought a new stake in shares of Marathon Petroleum during the first quarter worth about $32,000. WPG Advisers LLC bought a new stake in shares of Marathon Petroleum during the first quarter worth about $32,000. Finally, Decker Retirement Planning Inc. grew its holdings in shares of Marathon Petroleum by 1,621.4% during the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 227 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on MPC shares. Citigroup upped their target price on Marathon Petroleum from $144.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Dbs Bank raised Marathon Petroleum to a “moderate buy” rating in a research report on Monday, July 28th. Wolfe Research lowered Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 14th. Bank of America upped their price objective on shares of Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 3rd. Finally, Wells Fargo & Company upped their price objective on Marathon Petroleum from $182.00 to $205.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Eight investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, Marathon Petroleum has an average rating of “Moderate Buy” and an average target price of $189.36.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $182.14 on Friday. The stock has a market cap of $55.37 billion, a P/E ratio of 27.02, a PEG ratio of 3.67 and a beta of 0.97. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $186.28. The business’s 50-day moving average price is $172.65 and its two-hundred day moving average price is $156.93.

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

Marathon Petroleum Dividend Announcement

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

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction 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 sale, the insider directly owned 28,700 shares of the company’s stock, valued at approximately $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kim K.W. Rucker sold 7,392 shares of the business’s stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total value of $1,293,600.00. Following the completion of the transaction, the director owned 18,944 shares of the company’s stock, valued at $3,315,200. This represents a 28.07% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Marathon Petroleum Company Profile

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.