Marathon Petroleum Corporation $MPC Shares Sold by Mission Wealth Management LP

Mission Wealth Management LP decreased its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 45.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,856 shares of the oil and gas company’s stock after selling 4,005 shares during the quarter. Mission Wealth Management LP’s holdings in Marathon Petroleum were worth $790,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Boston Partners increased its stake in Marathon Petroleum by 2.3% during the third quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock worth $1,214,522,000 after acquiring an additional 141,691 shares during the last quarter. Legal & General Group Plc increased its stake in Marathon Petroleum by 2.0% during the third quarter. Legal & General Group Plc now owns 1,861,020 shares of the oil and gas company’s stock worth $358,693,000 after acquiring an additional 35,847 shares during the last quarter. Amundi increased its stake in Marathon Petroleum by 11.8% during the third quarter. Amundi now owns 1,626,862 shares of the oil and gas company’s stock worth $314,830,000 after acquiring an additional 172,172 shares during the last quarter. National Pension Service increased its stake in Marathon Petroleum by 1.7% during the third quarter. National Pension Service now owns 849,268 shares of the oil and gas company’s stock worth $163,688,000 after acquiring an additional 14,308 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in Marathon Petroleum by 1.8% during the third quarter. Rhumbline Advisers now owns 669,237 shares of the oil and gas company’s stock worth $128,989,000 after acquiring an additional 11,948 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Buying and Selling at Marathon Petroleum

In other news, insider Ricky D. Hessling sold 1,626 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $228.18, for a total value of $371,020.68. Following the completion of the sale, the insider directly owned 7,525 shares of the company’s stock, valued at approximately $1,717,054.50. The trade was a 17.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders sold 4,473 shares of company stock valued at $1,015,428. 0.17% of the stock is currently owned by insiders.

Marathon Petroleum Stock Down 1.8%

Shares of NYSE MPC opened at $258.25 on Thursday. The company has a market capitalization of $75.39 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 0.34 and a beta of 0.53. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73. The business has a 50-day moving average of $237.11 and a two-hundred day moving average of $204.89. Marathon Petroleum Corporation has a 1 year low of $154.65 and a 1 year high of $264.14.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.91. The company had revenue of $34.20 billion during the quarter, compared to the consensus estimate of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.Marathon Petroleum’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.24) EPS. On average, analysts forecast that Marathon Petroleum Corporation will post 29.67 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, May 20th. Marathon Petroleum’s payout ratio is 26.11%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Citigroup boosted their target price on Marathon Petroleum from $243.00 to $257.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Weiss Ratings cut Marathon Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. The Goldman Sachs Group boosted their target price on Marathon Petroleum from $264.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Piper Sandler boosted their target price on Marathon Petroleum from $197.00 to $228.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Marathon Petroleum in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $259.44.

About Marathon Petroleum

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.