Marathon Petroleum Corporation $MPC Shares Sold by North Point Portfolio Managers Corp OH

Key Points

• North Point Portfolio Managers reduced its Marathon Petroleum stake by 25.8% in the third quarter, selling 15,736 shares and retaining 45,223 shares valued at approximately $17.9 million. Institutional investors and hedge funds collectively own 76.77% of MPC.
• Marathon Petroleum insiders sold 21,691 shares worth about $7.78 million over the past three months, while corporate insiders retain just 0.17% of the company’s stock.
• MPC shares traded near a 52-week high at $439.54 after the company beat quarterly earnings and revenue estimates; analysts maintain a “Moderate Buy” consensus, with an average price target of $370.38.

North Point Portfolio Managers Corp OH decreased its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 25.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,223 shares of the oil and gas company's stock after selling 15,736 shares during the quarter. Marathon Petroleum makes up approximately 3.3% of North Point Portfolio Managers Corp OH's holdings, making the stock its 10th biggest holding. North Point Portfolio Managers Corp OH's holdings in Marathon Petroleum were worth $17,882,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capstone Financial Advisors Inc. grew its holdings in Marathon Petroleum by 1.8% in the second quarter. Capstone Financial Advisors Inc. now owns 1,938 shares of the oil and gas company's stock worth $495,000 after purchasing an additional 34 shares during the period. Eastern Bank increased its position in Marathon Petroleum by 2.1% during the 3rd quarter. Eastern Bank now owns 1,936 shares of the oil and gas company's stock valued at $766,000 after buying an additional 39 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Marathon Petroleum by 3.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,288 shares of the oil and gas company's stock worth $329,000 after acquiring an additional 40 shares in the last quarter. Equitable Trust Co. grew its stake in shares of Marathon Petroleum by 1.6% in the first quarter. Equitable Trust Co. now owns 2,637 shares of the oil and gas company's stock worth $644,000 after acquiring an additional 42 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC increased its holdings in shares of Marathon Petroleum by 0.4% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 9,548 shares of the oil and gas company's stock valued at $2,411,000 after acquiring an additional 42 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, SVP Shawn Lyon sold 2,500 shares of the business's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $350.00, for a total transaction of $875,000.00. Following the completion of the sale, the senior vice president owned 12,619 shares of the company's stock, valued at approximately $4,416,650. The trade was a 16.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Erin M. Brzezinski sold 570 shares of the firm's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $362.79, for a total value of $206,790.30. Following the completion of the transaction, the vice president directly owned 1,576 shares in the company, valued at $571,757.04. This trade represents a 26.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 21,691 shares of company stock worth $7,780,127. Corporate insiders own 0.17% of the company's stock.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock traded up $7.17 during trading hours on Wednesday, reaching $439.54. 951,055 shares of the stock traded hands, compared to its average volume of 2,494,014. Marathon Petroleum Corporation has a one year low of $161.93 and a one year high of $444.99. The firm has a market capitalization of $128.32 billion, a price-to-earnings ratio of 15.12, a P/E/G ratio of 0.13 and a beta of 0.54. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. The company has a 50 day moving average price of $372.02 and a 200 day moving average price of $296.69.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The company had revenue of $51.99 billion for the quarter, compared to the consensus estimate of $40.87 billion. During the same quarter last year, the firm posted $3.96 earnings per share. The firm's revenue was up 53.5% compared to the same quarter last year. On average, equities research analysts expect that Marathon Petroleum Corporation will post 61.31 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, August 19th. Marathon Petroleum's dividend payout ratio (DPR) is currently 13.75%.

Analysts Set New Price Targets

MPC has been the subject of a number of analyst reports. Jefferies Financial Group restated a "hold" rating and set a $413.00 price objective on shares of Marathon Petroleum in a research note on Monday, September 21st. TD Cowen boosted their price objective on shares of Marathon Petroleum from $357.00 to $375.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Marathon Petroleum in a research report on Friday, June 12th. Raymond James Financial upped their price target on Marathon Petroleum from $350.00 to $445.00 and gave the company an "outperform" rating in a report on Monday, September 14th. Finally, UBS Group reaffirmed a "buy" rating on shares of Marathon Petroleum in a report on Thursday, October 1st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $370.38.

Marathon Petroleum Profile

Marathon Petroleum Corporation NYSE: MPC is an integrated downstream energy company engaged primarily in refining, marketing and transporting petroleum products. The company converts crude oil and other feedstocks into gasoline, diesel, jet fuel, asphalt, propane and other refined products used by consumers, businesses and industrial customers.

Marathon Petroleum operates refineries and related logistics assets in the United States, with a refining and marketing presence serving markets across the Midwest, Gulf Coast and West Coast.

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