Marathon Petroleum Corporation $MPC Shares Sold by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services LLC reduced its holdings in Marathon Petroleum by 38.3%, now owning 31,322 shares valued at approximately $4.56 million.
• Insider selling was noted as Molly R. Benson sold over 10,000 shares, reflecting a 27.49% decrease in her ownership.
• Research analysts have recently adjusted their price targets for Marathon Petroleum, with Wells Fargo increasing theirs to $205.00, maintaining an "overweight" rating.

Kestra Advisory Services LLC trimmed its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 38.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,322 shares of the oil and gas company's stock after selling 19,450 shares during the period. Kestra Advisory Services LLC's holdings in Marathon Petroleum were worth $4,563,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Brighton Jones LLC boosted its holdings in Marathon Petroleum by 30.9% in the fourth quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company's stock worth $696,000 after acquiring an additional 1,178 shares in the last quarter. GHE LLC boosted its stake 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 in the last quarter. Northern Trust Corp grew its position in Marathon Petroleum by 14.0% during the 4th quarter. Northern Trust Corp now owns 3,937,348 shares of the oil and gas company's stock worth $549,260,000 after purchasing an additional 484,438 shares during the last quarter. Lido Advisors LLC grew its position in Marathon Petroleum by 22.0% during the 4th quarter. Lido Advisors LLC now owns 19,581 shares of the oil and gas company's stock worth $2,731,000 after purchasing an additional 3,536 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in Marathon Petroleum by 25.4% during the 4th quarter. AQR Capital Management LLC now owns 1,039,677 shares of the oil and gas company's stock valued at $143,746,000 after purchasing an additional 210,514 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MPC. Barclays upped their target price on Marathon Petroleum from $159.00 to $189.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Wolfe Research lowered Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. UBS Group raised their price objective on Marathon Petroleum from $175.00 to $203.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. TD Cowen dropped their target price on Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Finally, Piper Sandler increased their price target on shares of Marathon Petroleum from $175.00 to $182.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Eight analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $185.29.

Marathon Petroleum Price Performance

Shares of Marathon Petroleum stock traded up $0.49 on Friday, hitting $179.79. The company's stock had a trading volume of 1,753,792 shares, compared to its average volume of 1,843,214. The company has a market capitalization of $54.66 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 3.26 and a beta of 0.90. 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 quick ratio of 0.71 and a current ratio of 1.23. The firm has a fifty day moving average price of $170.44 and a 200-day moving average price of $155.34.

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 EPS for the quarter, beating the consensus estimate of $3.22 by $0.74. The company had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.Marathon Petroleum's quarterly revenue was down 11.1% compared to the same quarter last year. During the same period last year, the company earned $4.12 earnings per share. As a group, sell-side analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be given a dividend of $0.91 per share. The ex-dividend date is Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a yield of 2.0%. Marathon Petroleum's dividend payout ratio is currently 54.01%.

Insider Buying and Selling at Marathon Petroleum

In other news, 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 value of $1,293,600.00. Following the sale, the director owned 18,944 shares in the company, valued at $3,315,200. This trade represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Molly R. Benson sold 10,879 shares of the company's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the transaction, the insider owned 28,700 shares of the company's stock, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

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.