Legacy Financial Advisors Inc. Has $1.09 Million Stock Position in Marathon Petroleum Corporation $MPC

Legacy Financial Advisors Inc. reduced its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 25.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,264 shares of the oil and gas company’s stock after selling 1,436 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Marathon Petroleum were worth $1,090,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Marathon Petroleum in the second quarter valued at about $6,648,958,000. Bank of New York Mellon Corp acquired a new position in shares of Marathon Petroleum during the 2nd quarter worth about $1,029,611,000. Norges Bank bought a new stake in shares of Marathon Petroleum in the 4th quarter valued at about $472,312,000. Bank of America Corp DE bought a new stake in shares of Marathon Petroleum in the 2nd quarter valued at about $621,832,000. Finally, Capital Wealth Planning LLC raised its position in shares of Marathon Petroleum by 49,392.0% in the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock valued at $245,157,000 after acquiring an additional 1,495,097 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Price Performance

NYSE:MPC opened at $374.48 on Tuesday. The stock has a market capitalization of $109.33 billion, a PE ratio of 12.87, a P/E/G ratio of 0.24 and a beta of 0.52. Marathon Petroleum Corporation has a 1-year low of $161.93 and a 1-year high of $376.56. The firm has a fifty day simple moving average of $311.41 and a 200 day simple moving average of $261.80. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results 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 net margin of 5.48% and a return on equity of 31.96%. The firm had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. During the same period in the prior year, the firm posted $3.96 earnings per share. The company’s quarterly revenue was up 53.5% compared to the same quarter last year. On average, research analysts expect that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio is presently 13.75%.

Analysts Set New Price Targets

MPC has been the subject of a number of analyst reports. Bank of America boosted their price objective on shares of Marathon Petroleum from $224.00 to $260.00 in a report on Tuesday, May 26th. Raymond James Financial lifted their price target on shares of Marathon Petroleum from $300.00 to $335.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. TD Cowen upped their price objective on shares of Marathon Petroleum from $357.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Wells Fargo & Company raised their price objective on shares of Marathon Petroleum from $344.00 to $359.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Finally, Mizuho boosted their price objective on shares of Marathon Petroleum from $284.00 to $304.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $312.50.

Insider Activity

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the transaction, the vice president owned 16,900 shares of the company’s stock, valued at $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Erin M. Brzezinski sold 570 shares of the company’s stock in a transaction that occurred on 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 owned 1,576 shares in the company, valued at $571,757.04. This represents a 26.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 26,602 shares of company stock valued at $8,951,004. Company insiders own 0.17% of the company’s stock.

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.