Jupiter Wealth Management LLC Sells 6,000 Shares of Marathon Petroleum Corporation $MPC

Key Points

• Jupiter Wealth Management LLC reduced its holdings in Marathon Petroleum by 37.5%, now owning 10,000 shares valued at approximately $1.46 million.
• Insiders have sold significant shares recently, including Director Kim K.W. Rucker and insider Molly R. Benson, indicating a 28.07% and 27.49% decrease in their respective positions.
• Marathon Petroleum reported $3.96 earnings per share for the last quarter, exceeding estimates, but experienced an 11.1% year-over-year revenue decline.

Jupiter Wealth Management LLC cut its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 37.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,000 shares of the oil and gas company's stock after selling 6,000 shares during the quarter. Marathon Petroleum makes up 0.9% of Jupiter Wealth Management LLC's portfolio, making the stock its 26th largest holding. Jupiter Wealth Management LLC's holdings in Marathon Petroleum were worth $1,457,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Marathon Petroleum by 12.3% in the first quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company's stock valued at $5,090,611,000 after buying an additional 3,834,501 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Marathon Petroleum by 18.7% in the first quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company's stock valued at $1,722,664,000 after buying an additional 1,862,674 shares during the last quarter. Raymond James Financial Inc. raised its holdings in shares of Marathon Petroleum by 6.3% in the first quarter. Raymond James Financial Inc. now owns 6,037,532 shares of the oil and gas company's stock valued at $879,608,000 after buying an additional 355,215 shares during the last quarter. Boston Partners raised its holdings in shares of Marathon Petroleum by 58.5% in the first quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company's stock valued at $791,274,000 after buying an additional 2,011,810 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Marathon Petroleum by 3.7% in the first quarter. Bank of New York Mellon Corp now owns 4,982,348 shares of the oil and gas company's stock valued at $725,878,000 after buying an additional 178,397 shares during the last quarter. 76.77% of the stock is owned by institutional investors.

Insider Activity

In other news, 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 transaction of $1,773,277.00. Following the transaction, the insider owned 28,700 shares in the company, valued at $4,678,100. The trade was a 27.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the director owned 18,944 shares in the company, valued at $3,315,200. This trade represents a 28.07% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

Marathon Petroleum Trading Down 1.2%

Shares of Marathon Petroleum stock traded down $2.13 during trading on Friday, hitting $180.18. 1,500,292 shares of the company were exchanged, compared to its average volume of 1,733,300. The firm has a market capitalization of $54.78 billion, a P/E ratio of 26.73, a price-to-earnings-growth ratio of 3.68 and a beta of 0.97. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $186.28. The firm's fifty day moving average price is $172.81 and its 200 day moving average price is $157.21. 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 (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 (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.74. The company had revenue of $34.10 billion during 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%.The company's revenue for the quarter was down 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $4.12 EPS. As a group, sell-side analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were given 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 was Wednesday, August 20th. Marathon Petroleum's payout ratio is presently 54.01%.

Wall Street Analysts Forecast Growth

MPC has been the subject of a number of research analyst reports. Scotiabank reaffirmed an "outperform" rating on shares of Marathon Petroleum in a report on Friday, July 11th. Wall Street Zen upgraded Marathon Petroleum from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Bank of America lifted 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. Wells Fargo & Company lifted their price objective on Marathon Petroleum from $182.00 to $205.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Barclays lifted their price objective on Marathon Petroleum from $159.00 to $189.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Eight investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $189.36.

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.