New York Life Investment Management LLC Sells 1,508 Shares of Marathon Petroleum Corporation $MPC

New York Life Investment Management LLC lessened its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 3.5% in the third quarter, Holdings Channel.com reports. The firm owned 42,100 shares of the oil and gas company’s stock after selling 1,508 shares during the period. New York Life Investment Management LLC’s holdings in Marathon Petroleum were worth $16,647,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Focus Financial Network Inc. boosted its stake in shares of Marathon Petroleum by 2.0% during the 3rd quarter. Focus Financial Network Inc. now owns 1,066 shares of the oil and gas company’s stock valued at $422,000 after buying an additional 21 shares during the last quarter. CRA Financial Services LLC grew its position in shares of Marathon Petroleum by 1.2% during the third quarter. CRA Financial Services LLC now owns 1,844 shares of the oil and gas company’s stock worth $729,000 after buying an additional 21 shares in the last quarter. Avior Wealth Management LLC grew its position in shares of Marathon Petroleum by 1.0% during the third quarter. Avior Wealth Management LLC now owns 2,130 shares of the oil and gas company’s stock worth $842,000 after buying an additional 22 shares in the last quarter. Physician Wealth Advisors Inc. increased its stake in shares of Marathon Petroleum by 7.8% in the third quarter. Physician Wealth Advisors Inc. now owns 316 shares of the oil and gas company’s stock worth $125,000 after buying an additional 23 shares during the last quarter. Finally, Global Assets Advisory LLC increased its stake in shares of Marathon Petroleum by 1.6% in the third quarter. Global Assets Advisory LLC now owns 1,442 shares of the oil and gas company’s stock worth $630,000 after buying an additional 23 shares during the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Marathon Petroleum news, SVP Shawn M. Lyon sold 1,000 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $375.75, for a total transaction of $375,750.00. Following the sale, the senior vice president directly owned 11,194 shares of the company’s stock, valued at approximately $4,206,145.50. This represents a 8.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Erin M. Brzezinski sold 570 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total transaction of $206,790.30. Following the sale, the vice president directly owned 1,576 shares in the company, valued at $571,757.04. This trade represents a 26.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 19,191 shares of company stock valued at $6,905,127 over the last 90 days. 0.17% of the stock is owned by company insiders.

Marathon Petroleum Trading Up 3.4%

NYSE:MPC opened at $402.73 on Thursday. The company has a market cap of $109.65 billion, a PE ratio of 13.84, a P/E/G ratio of 0.10 and a beta of 0.53. The business’s 50 day moving average is $422.83 and its two-hundred day moving average is $298.62. The company has a quick ratio of 1.09, a current ratio of 1.45 and a debt-to-equity ratio of 1.10. Marathon Petroleum Corporation has a 52 week low of $161.93 and a 52 week high of $493.98.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, November 3rd. The oil and gas company reported $26.93 earnings per share for the quarter, beating analysts’ consensus estimates of $25.37 by $1.56. The business had revenue of $56.03 billion during the quarter, compared to the consensus estimate of $46.60 billion. Marathon Petroleum had a return on equity of 55.82% and a net margin of 8.27%. The business’s quarterly revenue was up 57.6% on a year-over-year basis. During the same period in the previous year, the business earned $3.01 EPS. On average, analysts predict that Marathon Petroleum Corporation will post 66.31 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be paid a dividend of $1.00 per share. The ex-dividend date is Wednesday, November 18th. This represents a $4.00 annualized dividend and a yield of 1.0%. Marathon Petroleum’s dividend payout ratio (DPR) is 13.75%.

Analyst Ratings Changes

Several analysts recently issued reports on MPC shares. Jefferies Financial Group reaffirmed a “hold” rating and issued a $433.00 price target on shares of Marathon Petroleum in a report on Sunday, October 11th. Mizuho raised their price objective on shares of Marathon Petroleum from $304.00 to $457.00 and gave the stock a “neutral” rating in a report on Thursday, October 8th. Weiss Ratings raised shares of Marathon Petroleum from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Morgan Stanley boosted their target price on shares of Marathon Petroleum from $453.00 to $458.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 4th. Finally, Barclays upped their target price on shares of Marathon Petroleum from $321.00 to $488.00 and gave the company an “overweight” rating in a research note on Monday, October 12th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $425.12.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation is an integrated downstream energy company focused on refining, marketing, and transporting petroleum products. Its refineries produce fuels and other products, including gasoline, diesel, jet fuel, asphalt, and petrochemical feedstocks. The company sells transportation fuels and related products through a network of branded locations and other wholesale and commercial channels, primarily in the United States. Its midstream operations, conducted largely through its affiliated partnership MPLX, include gathering, processing, and transporting natural gas and natural gas liquids, as well as storing and transporting crude oil and refined products.