Islay Capital Management LLC Sells 3,255 Shares of Marathon Petroleum Corporation $MPC

Key Points

• Islay Capital Management LLC sold 3,255 shares of Marathon Petroleum, reducing its stake by 41.3%, leaving it with 4,633 shares valued at approximately $675,000.
• Marathon Petroleum's latest earnings showed a profit of $3.96 per share, surpassing estimates and generating $34.10 billion in revenue, despite a year-over-year decline in revenue by 11.1%.
• The company announced a quarterly dividend of $0.91, with a dividend yield of 2.1%, which will be paid on September 10th to stockholders of record on August 20th.

Islay Capital Management LLC lessened its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 41.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,633 shares of the oil and gas company's stock after selling 3,255 shares during the period. Islay Capital Management LLC's holdings in Marathon Petroleum were worth $675,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MPC. Beverly Hills Private Wealth LLC grew its stake in shares of Marathon Petroleum by 1.2% in the fourth quarter. Beverly Hills Private Wealth LLC now owns 6,655 shares of the oil and gas company's stock worth $928,000 after acquiring an additional 76 shares during the last quarter. Sunpointe LLC boosted its stake in Marathon Petroleum by 5.1% in the 1st quarter. Sunpointe LLC now owns 1,681 shares of the oil and gas company's stock worth $245,000 after purchasing an additional 81 shares in the last quarter. Valmark Advisers Inc. boosted its stake in Marathon Petroleum by 2.3% in the 1st quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company's stock worth $554,000 after purchasing an additional 86 shares in the last quarter. Southland Equity Partners LLC grew its position in Marathon Petroleum by 6.2% during the 1st quarter. Southland Equity Partners LLC now owns 1,549 shares of the oil and gas company's stock valued at $226,000 after purchasing an additional 90 shares during the last quarter. Finally, Prudent Man Advisors LLC increased its stake in Marathon Petroleum by 2.3% during the 1st quarter. Prudent Man Advisors LLC now owns 4,056 shares of the oil and gas company's stock valued at $591,000 after purchasing an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company's stock.

Marathon Petroleum Stock Performance

MPC stock opened at $170.5290 on Monday. 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 Corporation has a 1 year low of $115.10 and a 1 year high of $183.10. The company has a market cap of $51.84 billion, a P/E ratio of 25.30, a price-to-earnings-growth ratio of 3.11 and a beta of 0.90. The stock's fifty day moving average price is $169.60 and its 200-day moving average price is $154.56.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, beating analysts' consensus estimates of $3.22 by $0.74. The company had revenue of $34.10 billion for the quarter, compared to the consensus estimate of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.Marathon Petroleum's revenue was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.12 earnings per share. On average, equities analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current 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 paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, August 20th. Marathon Petroleum's dividend payout ratio is 54.01%.

Wall Street Analyst Weigh In

MPC has been the topic of several analyst reports. TD Cowen dropped their target price 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. Wolfe Research lowered shares of Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Dbs Bank raised Marathon Petroleum to a "moderate buy" rating in a research report on Monday, July 28th. Wells Fargo & Company increased their target price on Marathon Petroleum from $182.00 to $205.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, Citigroup lifted their target price on Marathon Petroleum from $144.00 to $182.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $185.29.

Insider Buying and Selling

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the transaction, the insider directly owned 28,700 shares in the company, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction on Thursday, July 3rd. The stock was 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 in the company, valued at $3,315,200. This represents a 28.07% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company's stock.

Marathon Petroleum 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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