Orange Investment Advisors Inc. Sells 3,087 Shares of Marathon Petroleum Corporation $MPC

Orange Investment Advisors Inc. lessened its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 13.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,290 shares of the oil and gas company’s stock after selling 3,087 shares during the period. Orange Investment Advisors Inc.’s holdings in Marathon Petroleum were worth $7,628,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vontobel Holding Ltd. increased its holdings in shares of Marathon Petroleum by 23.2% during the third quarter. Vontobel Holding Ltd. now owns 14,025 shares of the oil and gas company’s stock valued at $5,546,000 after purchasing an additional 2,637 shares during the period. Energy Income Partners LLC bought a new stake in shares of Marathon Petroleum during the second quarter valued at about $4,912,000. Evolve Private Wealth LLC acquired a new stake in Marathon Petroleum in the second quarter worth about $673,000. Railway Pension Investments Ltd acquired a new stake in Marathon Petroleum in the second quarter worth about $3,886,000. Finally, Sax Wealth Advisors LLC grew its position in Marathon Petroleum by 471.0% in the 3rd quarter. Sax Wealth Advisors LLC now owns 18,705 shares of the oil and gas company’s stock valued at $7,396,000 after buying an additional 15,429 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, SVP Shawn Lyon sold 1,000 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $375.75, for a total value of $375,750.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Erin M. Brzezinski sold 570 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $362.79, for a total transaction of $206,790.30. Following the transaction, the vice president owned 1,576 shares of the company’s stock, valued at approximately $571,757.04. This trade represents a 26.56% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 21,691 shares of company stock valued at $7,780,127. 0.17% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MPC has been the topic of several research analyst reports. UBS Group set a $510.00 target price on shares of Marathon Petroleum in a research note on Friday, October 9th. Mizuho upped their price target on shares of Marathon Petroleum from $304.00 to $457.00 and gave the stock a “neutral” rating in a research note on Thursday, October 8th. Piper Sandler upped their price target on shares of Marathon Petroleum from $344.00 to $462.00 and gave the stock an “overweight” rating in a research note on Thursday, September 3rd. Bank of America increased their price objective on shares of Marathon Petroleum from $410.00 to $426.00 and gave the company a “neutral” rating in a report on Friday, October 2nd. Finally, Raymond James Financial raised their price objective on shares of Marathon Petroleum from $350.00 to $445.00 and gave the company an “outperform” rating in a research note on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Marathon Petroleum has an average rating of “Moderate Buy” and an average price target of $424.31.

Marathon Petroleum Stock Down 0.0%

MPC opened at $457.00 on Monday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25. The company has a market capitalization of $133.42 billion, a PE ratio of 15.71, a P/E/G ratio of 0.12 and a beta of 0.54. The stock’s fifty day moving average is $410.05 and its 200-day moving average is $317.33. Marathon Petroleum Corporation has a one year low of $161.93 and a one year high of $493.98.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating the consensus estimate of $14.27 by $3.46. The business had revenue of $51.99 billion during the quarter, compared to analysts’ expectations of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%. The company’s quarterly revenue was up 53.5% on a year-over-year basis. During the same quarter last year, the business posted $3.96 earnings per share. On average, equities analysts predict that Marathon Petroleum Corporation will post 64.12 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were given a $1.00 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $4.00 annualized dividend and a yield of 0.9%. Marathon Petroleum’s payout ratio is 13.75%.

Marathon Petroleum Company Profile

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.