Applied Finance Capital Management LLC Sells 7,998 Shares of Marathon Petroleum Corporation $MPC

Key Points

• Applied Finance Capital Management LLC reduced its stake in Marathon Petroleum by 56.2%, selling 7,998 shares and retaining 6,241 shares valued at $1,037,000.
• Marathon Petroleum reported an EPS of $3.96 for the last quarter, exceeding expectations, but also saw a 11.1% decline in revenue compared to the previous year.
• Recent analysts have adjusted their price targets for Marathon Petroleum, with a consensus average target price of $199.31, indicating a generally favorable outlook with multiple "Buy" ratings.

Applied Finance Capital Management LLC trimmed its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 56.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,241 shares of the oil and gas company's stock after selling 7,998 shares during the period. Applied Finance Capital Management LLC's holdings in Marathon Petroleum were worth $1,037,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Baker Tilly Wealth Management LLC boosted its stake in shares of Marathon Petroleum by 2.8% during the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company's stock valued at $370,000 after purchasing an additional 60 shares in the last quarter. CHICAGO TRUST Co NA boosted its stake in Marathon Petroleum by 3.9% during the second quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company's stock worth $280,000 after acquiring an additional 63 shares in the last quarter. Werba Rubin Papier Wealth Management boosted its stake in Marathon Petroleum by 4.2% during the second quarter. Werba Rubin Papier Wealth Management now owns 1,577 shares of the oil and gas company's stock worth $262,000 after acquiring an additional 64 shares in the last quarter. Sunpointe LLC boosted its stake in Marathon Petroleum by 4.1% during the second quarter. Sunpointe LLC now owns 1,750 shares of the oil and gas company's stock worth $291,000 after acquiring an additional 69 shares in the last quarter. Finally, Beverly Hills Private Wealth LLC boosted its stake in Marathon Petroleum by 1.3% during the first quarter. Beverly Hills Private Wealth LLC now owns 6,739 shares of the oil and gas company's stock worth $982,000 after acquiring an additional 84 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Trading Down 1.4%

Shares of NYSE MPC opened at $181.19 on Friday. The firm's 50 day moving average price is $180.15 and its 200-day moving average price is $164.50. The company has a market cap of $55.09 billion, a PE ratio of 26.88, a P/E/G ratio of 2.90 and a beta of 0.90. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $201.61. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The firm had revenue of $34.10 billion for the quarter, compared to the consensus estimate of $31.70 billion. During the same quarter in the prior year, the firm posted $4.12 earnings per share. The business's revenue was down 11.1% on a year-over-year basis. On average, equities research analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, August 20th. Marathon Petroleum's payout ratio is presently 54.01%.

Insider Buying and Selling at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on MPC. Citigroup boosted their price objective on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. TD Cowen dropped their price objective on shares of Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. BMO Capital Markets boosted their price objective on shares of Marathon Petroleum from $195.00 to $208.00 and gave the stock an "outperform" rating in a research note on Monday, September 22nd. Piper Sandler boosted their price objective on shares of Marathon Petroleum from $184.00 to $222.00 and gave the stock a "neutral" rating in a research note on Thursday, September 11th. Finally, Scotiabank reiterated an "outperform" rating on shares of Marathon Petroleum in a research note on Thursday, October 9th. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $199.31.

Marathon Petroleum Company Profile

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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