Northern Trust Corp Sells 153,782 Shares of Marathon Petroleum Corporation $MPC

Northern Trust Corp reduced its stake in Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 3.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,783,566 shares of the oil and gas company’s stock after selling 153,782 shares during the quarter. Northern Trust Corp owned approximately 1.23% of Marathon Petroleum worth $551,228,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MPC. Brighton Jones LLC raised its holdings in Marathon Petroleum by 30.9% in the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock worth $696,000 after purchasing an additional 1,178 shares during the period. GHE LLC raised its holdings in Marathon Petroleum by 1.8% in the 4th quarter. GHE LLC now owns 38,572 shares of the oil and gas company’s stock worth $5,381,000 after purchasing an additional 665 shares during the period. Jump Financial LLC raised its holdings in Marathon Petroleum by 195.5% in the 4th quarter. Jump Financial LLC now owns 3,800 shares of the oil and gas company’s stock worth $530,000 after purchasing an additional 2,514 shares during the period. Tower Research Capital LLC TRC raised its holdings in Marathon Petroleum by 67.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 12,969 shares of the oil and gas company’s stock worth $1,809,000 after purchasing an additional 5,214 shares during the period. Finally, TD Waterhouse Canada Inc. raised its holdings in Marathon Petroleum by 2.2% in the 4th quarter. TD Waterhouse Canada Inc. now owns 4,912 shares of the oil and gas company’s stock worth $685,000 after purchasing an additional 105 shares during the period. 76.77% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total value of $1,293,600.00. Following the sale, the director directly owned 18,944 shares of the company’s stock, valued at approximately $3,315,200. The trade was a 28.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Marathon Petroleum Price Performance

NYSE:MPC opened at $164.2570 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The business’s 50-day simple moving average is $169.50 and its two-hundred day simple moving average is $154.26. The stock has a market cap of $49.94 billion, a PE ratio of 24.37, a P/E/G ratio of 2.96 and a beta of 0.90. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $183.10.

Marathon Petroleum (NYSE:MPC — Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The business had revenue of $34.10 billion for the quarter, compared to analysts’ expectations of $31.70 billion. During the same period last year, the firm earned $4.12 earnings per share. The business’s quarterly revenue was down 11.1% on a year-over-year basis. As a group, analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, August 20th. Marathon Petroleum’s payout ratio is 54.01%.

Analyst Ratings Changes

A number of equities analysts recently commented on MPC shares. Wells Fargo & Company raised their target price on Marathon Petroleum from $182.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Citigroup raised their price target on Marathon Petroleum from $144.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Evercore ISI initiated coverage on Marathon Petroleum in a report on Wednesday, June 18th. They set an “in-line” rating and a $170.00 price target on the stock. TD Cowen decreased their price target on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Finally, Dbs Bank raised Marathon Petroleum to a “moderate buy” rating in a report on Monday, July 28th. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $185.29.

View Our Latest Report on Marathon Petroleum

About Marathon Petroleum

(Free Report)

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.

Read More

Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corporation (NYSE:MPC — Free Report).

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