Marathon Petroleum Corporation $MPC Stake Trimmed by Trek Financial LLC

Trek Financial LLC lowered its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 38.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,971 shares of the oil and gas company’s stock after selling 12,261 shares during the quarter. Trek Financial LLC’s holdings in Marathon Petroleum were worth $7,897,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Solstein Capital LLC acquired a new stake in shares of Marathon Petroleum in the 2nd quarter worth $26,000. Caitlin John LLC acquired a new position in shares of Marathon Petroleum during the second quarter worth about $26,000. Bell Investment Advisors Inc acquired a new stake in shares of Marathon Petroleum in the 2nd quarter valued at $27,000. Main Street Group LTD purchased a new stake in Marathon Petroleum during the 1st quarter worth about $35,000. Finally, Cetera Trust Company N.A acquired a new stake in shares of Marathon Petroleum during the 2nd quarter worth about $35,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Trading Up 0.0%

NYSE:MPC opened at $444.92 on Monday. Marathon Petroleum Corporation has a 12-month low of $161.93 and a 12-month high of $493.98. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19. The stock’s 50 day simple moving average is $417.80 and its 200-day simple moving average is $289.77. The firm has a market cap of $129.89 billion, a P/E ratio of 15.29, a PEG ratio of 0.12 and a beta of 0.53.

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

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, November 18th. Marathon Petroleum’s payout ratio is currently 13.75%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MPC shares. Barclays upped their price target on Marathon Petroleum from $321.00 to $488.00 and gave the company an “overweight” rating in a report on Monday, October 12th. The Goldman Sachs Group increased their target price on shares of Marathon Petroleum from $376.00 to $472.00 and gave the company a “buy” rating in a research report on Monday, September 21st. Wells Fargo & Company boosted their price target on shares of Marathon Petroleum from $400.00 to $560.00 and gave the company an “overweight” rating in a research report on Wednesday, October 14th. UBS Group set a $510.00 target price on Marathon Petroleum in a research report on Friday, October 9th. Finally, Raymond James Financial increased their price objective on Marathon Petroleum from $350.00 to $445.00 and gave the company an “outperform” rating in a report on Monday, September 14th. 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 data from MarketBeat, Marathon Petroleum has an average rating of “Moderate Buy” and an average price target of $424.31.

Insider Transactions at Marathon Petroleum

In other news, VP Erin M. Brzezinski sold 570 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president directly owned 1,576 shares of the company’s stock, valued at approximately $571,757.04. This represents a 26.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Molly Benson sold 17,196 shares of Marathon Petroleum stock in a transaction that occurred 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 owned 30,334 shares in the company, valued at approximately $10,876,862.38. This trade represents a 36.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 21,691 shares of company stock valued at $7,780,127. Corporate insiders own 0.17% of the company’s stock.

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.