New Wave Wealth Advisors LLC Sells 1,692 Shares of Marathon Petroleum Corporation $MPC

New Wave Wealth Advisors LLC decreased its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 18.7% in the third quarter, Holdings Channel.com reports. The firm owned 7,371 shares of the oil and gas company’s stock after selling 1,692 shares during the period. New Wave Wealth Advisors LLC’s holdings in Marathon Petroleum were worth $2,915,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Solstein Capital LLC acquired a new position in Marathon Petroleum in the 2nd quarter worth about $26,000. Caitlin John LLC acquired a new stake in shares of Marathon Petroleum during the 2nd quarter valued at about $26,000. Bell Investment Advisors Inc acquired a new stake in shares of Marathon Petroleum during the 2nd quarter valued at about $27,000. Main Street Group LTD acquired a new stake in shares of Marathon Petroleum during the 1st quarter valued at about $35,000. Finally, Cetera Trust Company N.A bought a new stake in shares of Marathon Petroleum in the 2nd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Activity

In other news, insider Molly Benson sold 17,196 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $358.57, for a total value of $6,165,969.72. Following the completion of the sale, the insider directly owned 30,334 shares in the company, valued at approximately $10,876,862.38. The trade was a 36.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Shawn Lyon sold 2,500 shares of Marathon Petroleum stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total transaction of $875,000.00. Following the completion of the transaction, the senior vice president owned 12,619 shares in the company, valued at $4,416,650. This trade represents a 16.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 21,691 shares of company stock valued at $7,780,127 over the last 90 days. 0.17% of the stock is currently owned by company insiders.

Marathon Petroleum Stock Down 0.2%

Shares of NYSE MPC traded down $0.99 during mid-day trading on Monday, reaching $477.07. 987,289 shares of the company traded hands, compared to its average volume of 2,470,973. The company’s fifty day moving average is $397.65 and its two-hundred day moving average is $309.39. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25. Marathon Petroleum Corporation has a fifty-two week low of $161.93 and a fifty-two week high of $493.98. The stock has a market cap of $139.28 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 0.14 and a beta of 0.54.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, topping the consensus estimate of $14.27 by $3.46. The firm had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%. The company’s revenue for the quarter was up 53.5% on a year-over-year basis. During the same period in the previous year, the company earned $3.96 EPS. On average, analysts expect that Marathon Petroleum Corporation will post 62.78 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were given a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.8%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 13.75%.

Analysts Set New Price Targets

A number of research firms recently commented on MPC. Evercore set a $330.00 price objective on Marathon Petroleum in a report on Wednesday, August 5th. Bank of America raised their price objective on shares of Marathon Petroleum from $410.00 to $426.00 and gave the company a “neutral” rating in a research report on Friday, October 2nd. Morgan Stanley lifted their target price on shares of Marathon Petroleum from $265.00 to $453.00 and gave the company an “overweight” rating in a research note on Monday, September 14th. Barclays boosted their target price on shares of Marathon Petroleum from $321.00 to $488.00 and gave the stock an “overweight” rating in a research report on Monday, October 12th. Finally, TD Cowen increased their price target on shares of Marathon Petroleum from $357.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $417.88.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE:MPC) is an American downstream energy company engaged in refining, marketing, and transporting petroleum products. Its operations include converting crude oil into gasoline, diesel, jet fuel, asphalt, propane, and other refined products used by transportation, industrial, and commercial customers.

The company markets fuel under the Marathon brand and supplies products to independent marketers, commercial businesses, and other wholesale customers. Marathon Petroleum also owns a general-partner interest and significant limited-partner interest in MPLX Inc, a midstream company that operates pipelines, storage facilities, terminals, and gathering and processing assets supporting the movement of crude oil and natural gas liquids.

Marathon Petroleum’s refining and midstream activities are concentrated in the United States, with assets serving regions across the Midwest, Gulf Coast, and West Coast.