AlphaQuest LLC Sells 7,014 Shares of Marathon Petroleum Corporation $MPC
AlphaQuest LLC lowered its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 90.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 726 shares of the oil and gas company’s stock after selling 7,014 shares during the period. AlphaQuest LLC’s holdings in Marathon Petroleum were worth $106,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the business. Beverly Hills Private Wealth LLC raised its stake in shares of Marathon Petroleum by 1.2% during the fourth quarter. Beverly Hills Private Wealth LLC now owns 6,655 shares of the oil and gas company’s stock valued at $928,000 after acquiring an additional 76 shares during the last quarter. Sunpointe LLC increased its position in shares of Marathon Petroleum by 5.1% during the first quarter. Sunpointe LLC now owns 1,681 shares of the oil and gas company’s stock worth $245,000 after buying an additional 81 shares during the period. Valmark Advisers Inc. increased its position in shares of Marathon Petroleum by 2.3% during the first quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company’s stock worth $554,000 after buying an additional 86 shares during the period. Southland Equity Partners LLC increased its position in shares of Marathon Petroleum by 6.2% during the first quarter. Southland Equity Partners LLC now owns 1,549 shares of the oil and gas company’s stock worth $226,000 after buying an additional 90 shares during the period. Finally, Prudent Man Advisors LLC increased its position in shares of Marathon Petroleum by 2.3% during the first quarter. Prudent Man Advisors LLC now owns 4,056 shares of the oil and gas company’s stock worth $591,000 after buying an additional 91 shares during the period. Institutional investors own 76.77% of the company’s stock.
Marathon Petroleum Stock Up 0.3%
Shares of NYSE MPC opened at $179.79 on Tuesday. The stock has a market capitalization of $54.66 billion, a P/E ratio of 26.67, a P/E/G ratio of 3.27 and a beta of 0.97. The company has a 50-day moving average price of $170.70 and a 200-day moving average price of $155.56. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $183.10. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71.
Marathon Petroleum (NYSE:MPC — Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.74. The firm had revenue of $34.10 billion during the quarter, compared to analysts’ expectations of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The business’s revenue was down 11.1% on a year-over-year basis. During the same period last year, the company earned $4.12 earnings per share. On average, equities research analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.
Marathon Petroleum Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 54.01%.
Insider Transactions at Marathon Petroleum
In other news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the transaction, the insider directly owned 28,700 shares in the company, valued at $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the transaction, the director owned 18,944 shares of the company’s stock, valued at $3,315,200. This represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on MPC shares. Barclays increased their price objective on shares of Marathon Petroleum from $159.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. Mizuho increased their price objective on shares of Marathon Petroleum from $168.00 to $184.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 13th. Wall Street Zen upgraded shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Citigroup raised their price target on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Finally, Dbs Bank upgraded shares of Marathon Petroleum to a “moderate buy” rating in a report on Monday, July 28th. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Marathon Petroleum currently has an average rating of “Hold” and a consensus target price of $185.29.
Get Our Latest Stock Analysis on MPC
About Marathon Petroleum
Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.
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