Lee Danner & Bass Inc. Sells 510 Shares of Marathon Petroleum Corporation $MPC

Lee Danner & Bass Inc. lowered its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 13.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 3,275 shares of the oil and gas company’s stock after selling 510 shares during the period. Lee Danner & Bass Inc.’s holdings in Marathon Petroleum were worth $544,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of MPC. Silver Oak Securities Incorporated bought a new stake in Marathon Petroleum during the first quarter valued at $339,000. Jump Financial LLC raised its position in shares of Marathon Petroleum by 128.0% in the 1st quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company’s stock worth $1,262,000 after acquiring an additional 4,863 shares in the last quarter. Weatherly Asset Management L. P. bought a new position in shares of Marathon Petroleum in the 1st quarter worth about $216,000. Journey Strategic Wealth LLC raised its position in shares of Marathon Petroleum by 105.0% in the 1st quarter. Journey Strategic Wealth LLC now owns 8,582 shares of the oil and gas company’s stock worth $1,250,000 after acquiring an additional 4,396 shares in the last quarter. Finally, FSM Wealth Advisors LLC bought a new position in shares of Marathon Petroleum in the 2nd quarter worth about $685,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 0.1%

MPC opened at $196.17 on Friday. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The stock has a market cap of $59.64 billion, a price-to-earnings ratio of 29.10, a PEG ratio of 4.10 and a beta of 0.90. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $201.61. The company’s 50-day moving average price is $183.52 and its two-hundred day moving average price is $166.92.

Marathon Petroleum (NYSE:MPC) last released its earnings results 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. The firm had revenue of $34.10 billion for the quarter, compared to analysts’ expectations of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The company’s quarterly revenue was down 11.1% on a year-over-year basis. During the same period in the previous year, the company earned $4.12 earnings per share. As a group, equities analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio is presently 54.01%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Marathon Petroleum in a research note on Thursday, October 9th. Piper Sandler lifted their price target on shares of Marathon Petroleum from $184.00 to $222.00 and gave the company a “neutral” rating in a research note on Thursday, September 11th. Bank of America boosted their target price 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. Wolfe Research downgraded shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 14th. Finally, Barclays boosted their target price on shares of Marathon Petroleum from $176.00 to $194.00 and gave the stock an “overweight” rating in a research report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.31.

Insider Activity at Marathon Petroleum

In related news, insider Molly R. Benson sold 10,879 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the sale, the insider directly owned 28,700 shares in the company, valued at approximately $4,678,100. This represents a 27.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.21% of the company’s stock.

About Marathon Petroleum

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.