Marathon Petroleum Corporation $MPC Shares Sold by Greenleaf Trust

Key Points

• Greenleaf Trust reduced its stake in Marathon Petroleum Corporation (NYSE:MPC) by 12.2% in Q2, selling 1,369 shares for a total holding worth approximately $1.63 million.
• Insider Molly R. Benson sold 10,879 shares at $163.00 each, totaling around $1.77 million, representing a 27.49% decrease in ownership.
• Marathon Petroleum's recent quarterly earnings surpassed expectations with $3.96 earnings per share and revenues of $34.10 billion, despite a year-over-year revenue drop of 11.1%.

Greenleaf Trust trimmed its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 12.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,827 shares of the oil and gas company's stock after selling 1,369 shares during the quarter. Greenleaf Trust's holdings in Marathon Petroleum were worth $1,632,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. CBIZ Investment Advisory Services LLC boosted its position in shares of Marathon Petroleum by 1,546.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company's stock worth $31,000 after buying an additional 201 shares during the period. Hughes Financial Services LLC acquired a new position in Marathon Petroleum during the 1st quarter worth about $32,000. WPG Advisers LLC purchased a new position in Marathon Petroleum during the 1st quarter valued at about $32,000. Decker Retirement Planning Inc. grew its position in Marathon Petroleum by 1,621.4% in the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock valued at $35,000 after acquiring an additional 227 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in Marathon Petroleum during the first quarter worth about $35,000. Hedge funds and other institutional investors own 76.77% of the company's stock.

Insider Buying and Selling

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the firm'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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is owned by corporate insiders.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $192.40 on Thursday. The company has a market cap of $58.49 billion, a P/E ratio of 28.55, a PEG ratio of 3.34 and a beta of 0.90. The firm has a fifty day moving average price of $176.17 and a 200 day moving average price of $161.52. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $201.61.

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 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 analysts' expectations 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% on a year-over-year basis. During the same period last year, the firm earned $4.12 earnings per share. Sell-side analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, August 20th. Marathon Petroleum's dividend payout ratio is 54.01%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MPC. Wells Fargo & Company raised their price objective on shares of Marathon Petroleum from $182.00 to $205.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. UBS Group raised their price target on shares of Marathon Petroleum from $203.00 to $220.00 and gave the company a "buy" rating in a research report on Friday, September 26th. Bank of America upped their price objective on Marathon Petroleum from $184.00 to $192.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 3rd. Morgan Stanley lifted their target price on Marathon Petroleum from $160.00 to $182.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Finally, Wolfe Research cut Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $195.00.

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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