NewEdge Wealth LLC Sells 3,738 Shares of Marathon Petroleum Corporation $MPC

NewEdge Wealth LLC trimmed its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 40.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,560 shares of the oil and gas company’s stock after selling 3,738 shares during the period. NewEdge Wealth LLC’s holdings in Marathon Petroleum were worth $1,358,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Navalign LLC bought a new position in shares of Marathon Petroleum during the fourth quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC purchased a new position in Marathon Petroleum during the 4th quarter valued at $31,000. Berbice Capital Management LLC increased its stake in Marathon Petroleum by 100.0% in the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 100 shares during the period. WFA of San Diego LLC purchased a new stake in Marathon Petroleum in the second quarter worth $33,000. Finally, Ares Financial Consulting LLC bought a new stake in shares of Marathon Petroleum during the fourth quarter worth $34,000. Institutional investors own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Morgan Stanley upped their price target on shares of Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Wells Fargo & Company reiterated an “overweight” rating and set a $344.00 price objective on shares of Marathon Petroleum in a report on Monday, June 15th. Wall Street Zen raised shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. JPMorgan Chase & Co. upped their target price on shares of Marathon Petroleum from $235.00 to $257.00 in a research note on Wednesday, May 6th. Finally, Scotiabank raised their target price on shares of Marathon Petroleum from $174.00 to $210.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 22nd. Eleven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $298.69.

Insider Buying and Selling at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the sale, the vice president owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. This represents a 27.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.17% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $309.14 on Monday. The firm has a market cap of $90.25 billion, a P/E ratio of 20.18, a P/E/G ratio of 0.20 and a beta of 0.52. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 12 month low of $158.00 and a 12 month high of $326.92. The stock’s fifty day moving average price is $268.66 and its 200-day moving average price is $233.03.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The firm had revenue of $34.20 billion during the quarter, compared to the consensus estimate of $33.42 billion. During the same period in the previous year, the company posted ($0.24) earnings per share. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities research analysts expect that Marathon Petroleum Corporation will post 43.19 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were issued a $1.00 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $4.00 annualized dividend and a dividend yield of 1.3%. Marathon Petroleum’s payout ratio is currently 26.11%.

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.