Marathon Petroleum Corporation $MPC Shares Sold by Tudor Financial Inc.

Key Points

• Tudor Financial cut its Marathon Petroleum stake by 58.3% in the second quarter, selling 5,125 shares and retaining 3,665 shares valued at approximately $937,000. Institutional investors collectively own 76.77% of MPC.
• Marathon Petroleum reported quarterly earnings of $17.73 per share, beating estimates by $3.46, while revenue rose 53.5% year over year to $51.99 billion. The company also declared a $1.00 quarterly dividend, representing a $4.00 annualized payout and a 1.0% yield.
• Company insiders sold 21,691 shares worth $7.78 million over the past 90 days. Despite the selling, analysts maintain a “Moderate Buy” consensus, with an average price target of $322.44 compared with the stock’s reported $387.66 price.

Tudor Financial Inc. trimmed its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 58.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,665 shares of the oil and gas company's stock after selling 5,125 shares during the period. Tudor Financial Inc.'s holdings in Marathon Petroleum were worth $937,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MPC. Solstein Capital LLC bought a new stake in shares of Marathon Petroleum in the 2nd quarter worth about $26,000. Caitlin John LLC bought a new position in shares of Marathon Petroleum during the second quarter worth about $26,000. Bell Investment Advisors Inc acquired a new position in Marathon Petroleum in the second quarter worth about $27,000. Cetera Trust Company N.A bought a new stake in Marathon Petroleum in the second quarter valued at about $35,000. Finally, Frazier Financial Advisors LLC bought a new stake in Marathon Petroleum in the second quarter valued at about $36,000. Institutional investors and hedge funds own 76.77% of the company's stock.

Insiders Place Their Bets

In other news, SVP Shawn M. Lyon sold 1,000 shares of the business's stock in a transaction on Monday, August 31st. The stock was sold at an average price of $375.75, for a total value of $375,750.00. Following the sale, the senior vice president owned 11,194 shares of the company's stock, valued at approximately $4,206,145.50. The trade was a 8.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Erin M. Brzezinski sold 570 shares of the company's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $362.79, for a total value of $206,790.30. Following the completion of the sale, the vice president owned 1,576 shares of the company's stock, valued at approximately $571,757.04. This trade represents a 26.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 21,691 shares of company stock worth $7,780,127 over the last ninety days. Company insiders own 0.17% of the company's stock.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $387.66 on Friday. The stock has a market cap of $113.17 billion, a P/E ratio of 13.33, a P/E/G ratio of 0.25 and a beta of 0.53. The firm's 50-day simple moving average is $319.58 and its 200 day simple moving average is $265.65. Marathon Petroleum Corporation has a fifty-two week low of $161.93 and a fifty-two week high of $398.52. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, beating the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The firm had revenue of $51.99 billion for the quarter, compared to analysts' expectations of $40.87 billion. During the same quarter last year, the company earned $3.96 EPS. Marathon Petroleum's quarterly revenue was up 53.5% on a year-over-year basis. Equities analysts expect that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $4.00 annualized dividend and a yield of 1.0%. Marathon Petroleum's payout ratio is presently 13.75%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MPC shares. Evercore set a $330.00 target price on Marathon Petroleum in a research report on Wednesday, August 5th. Zacks Research downgraded shares of Marathon Petroleum from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 17th. Piper Sandler raised their price target on shares of Marathon Petroleum from $344.00 to $462.00 and gave the stock an "overweight" rating in a research report on Thursday. BMO Capital Markets reaffirmed an "outperform" rating on shares of Marathon Petroleum in a research report on Friday, June 12th. Finally, Morgan Stanley raised their target price on shares of Marathon Petroleum from $233.00 to $265.00 and gave the stock an "overweight" rating in a report on Friday, June 12th. Twelve investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, Marathon Petroleum currently has an average rating of "Moderate Buy" and an average price target of $322.44.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation NYSE: MPC is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum's operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.

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