Marathon Petroleum (NYSE:MPC) Insider Molly Benson Sells 17,196 Shares of Stock

Marathon Petroleum Corporation (NYSE:MPC) insider Molly Benson sold 17,196 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the completion of the sale, the insider owned 30,334 shares in the company, valued at $10,876,862.38. The trade was a 36.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Marathon Petroleum Stock Down 2.0%

MPC stock opened at $355.31 on Wednesday. The firm has a market cap of $103.73 billion, a PE ratio of 12.21, a P/E/G ratio of 0.23 and a beta of 0.52. Marathon Petroleum Corporation has a 12 month low of $161.93 and a 12 month high of $367.60. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. The firm has a 50 day simple moving average of $301.58 and a 200 day simple moving average of $257.14.

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. The firm had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The firm’s quarterly revenue was up 53.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.96 earnings per share. Equities research analysts forecast that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors 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 is Wednesday, August 19th. Marathon Petroleum’s payout ratio is presently 13.75%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Evercore set a $330.00 price target on Marathon Petroleum in a research report on Wednesday, August 5th. Bank of America upped their price objective on shares of Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. UBS Group reaffirmed a “buy” rating and issued a $321.00 price objective on shares of Marathon Petroleum in a research note on Friday, July 10th. Mizuho lifted their price objective on shares of Marathon Petroleum from $284.00 to $304.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Marathon Petroleum from $235.00 to $257.00 in a research note on Wednesday, May 6th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and a consensus price target of $312.50.

Institutional Trading of Marathon Petroleum

A number of hedge funds have recently made changes to their positions in MPC. MassMutual Private Wealth & Trust FSB raised its stake in Marathon Petroleum by 3.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,288 shares of the oil and gas company’s stock worth $329,000 after buying an additional 40 shares during the last quarter. Equitable Trust Co. boosted its position in Marathon Petroleum by 1.6% during the first quarter. Equitable Trust Co. now owns 2,637 shares of the oil and gas company’s stock valued at $644,000 after acquiring an additional 42 shares during the last quarter. Bartlett & CO. Wealth Management LLC grew its holdings in Marathon Petroleum by 0.4% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 9,548 shares of the oil and gas company’s stock worth $2,411,000 after acquiring an additional 42 shares during the period. High Net Worth Advisory Group LLC grew its holdings in Marathon Petroleum by 2.6% during the 2nd quarter. High Net Worth Advisory Group LLC now owns 1,636 shares of the oil and gas company’s stock worth $418,000 after acquiring an additional 42 shares during the period. Finally, Wellington Grp LLC raised its position in shares of Marathon Petroleum by 9.6% in the 1st quarter. Wellington Grp LLC now owns 516 shares of the oil and gas company’s stock worth $126,000 after acquiring an additional 45 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Company Profile

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.