Marathon Petroleum Corporation $MPC Stock Sold by Orange Investment Advisors Inc.

Orange Investment Advisors Inc. lessened its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 13.8% in the third quarter, Holdings Channel.com reports. The fund owned 19,290 shares of the oil and gas company’s stock after selling 3,087 shares during the quarter. Orange Investment Advisors Inc.’s holdings in Marathon Petroleum were worth $7,628,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Marathon Petroleum in the 2nd quarter worth $6,648,958,000. Bank of New York Mellon Corp acquired a new stake in shares of Marathon Petroleum during the second quarter worth $1,029,611,000. Bank of America Corp DE acquired a new stake in shares of Marathon Petroleum during the second quarter worth $621,832,000. Legal & General Group Plc acquired a new stake in shares of Marathon Petroleum during the second quarter worth $380,745,000. Finally, Deutsche Bank AG purchased a new stake in shares of Marathon Petroleum during the second quarter valued at $280,761,000. 76.77% of the stock is owned by institutional investors.

Insider Transactions at Marathon Petroleum

In other news, insider Molly Benson sold 17,196 shares of the 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 sale, the insider directly owned 30,334 shares of the company’s stock, valued at $10,876,862.38. This represents a 36.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $206,790.30. Following the sale, the vice president 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 SEC filing for this sale provides additional information. Insiders sold 21,691 shares of company stock valued at $7,780,127 over the last three months. 0.17% of the stock is owned by corporate insiders.

Marathon Petroleum Stock Down 0.0%

NYSE:MPC opened at $457.00 on Monday. The firm has a market capitalization of $133.42 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 0.12 and a beta of 0.54. Marathon Petroleum Corporation has a 1-year low of $161.93 and a 1-year high of $493.98. 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 business’s fifty day moving average price is $410.05 and its 200 day moving average price is $317.33.

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. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%. The firm had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. During the same period in the prior year, the business earned $3.96 EPS. The business’s revenue for the quarter was up 53.5% on a year-over-year basis. On average, sell-side analysts forecast that Marathon Petroleum Corporation will post 64.12 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were issued a $1.00 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.9%. Marathon Petroleum’s dividend payout ratio is currently 13.75%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MPC shares. Barclays increased their price target on Marathon Petroleum from $321.00 to $488.00 and gave the company an “overweight” rating in a research report on Monday, October 12th. Morgan Stanley lifted their price target on Marathon Petroleum from $265.00 to $453.00 and gave the stock an “overweight” rating in a research note on Monday, September 14th. Zacks Research upgraded Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a report on Friday, September 4th. Weiss Ratings raised shares of Marathon Petroleum from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Finally, Mizuho raised their target price on shares of Marathon Petroleum from $304.00 to $457.00 and gave the stock a “neutral” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $424.31.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE:MPC) is an American downstream energy company engaged in refining, marketing, and transporting petroleum products. Its operations include converting crude oil into gasoline, diesel, jet fuel, asphalt, propane, and other refined products used by transportation, industrial, and commercial customers.

The company markets fuel under the Marathon brand and supplies products to independent marketers, commercial businesses, and other wholesale customers. Marathon Petroleum also owns a general-partner interest and significant limited-partner interest in MPLX Inc, a midstream company that operates pipelines, storage facilities, terminals, and gathering and processing assets supporting the movement of crude oil and natural gas liquids.

Marathon Petroleum’s refining and midstream activities are concentrated in the United States, with assets serving regions across the Midwest, Gulf Coast, and West Coast.