Marathon Petroleum Corporation $MPC Stock Sold by Islay Capital Management LLC

Key Points

• Islay Capital Management cut its Marathon Petroleum stake by 57.2% in the third quarter, selling 2,636 shares and retaining 1,969 shares valued at approximately $779,000. Institutional investors collectively own 76.77% of MPC.
• Marathon Petroleum reported quarterly earnings of $17.73 per share, exceeding analysts’ $14.27 estimate, while revenue rose 53.5% year over year to $51.99 billion.
• MPC shares recently traded at $471.89, near their 52-week high, and the company paid a quarterly dividend of $1.00, equivalent to a $4.00 annualized payout and a 0.8% yield. Analysts maintain a consensus “Moderate Buy” rating with a $417.88 price target.

Islay Capital Management LLC lessened its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 57.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,969 shares of the oil and gas company's stock after selling 2,636 shares during the period. Islay Capital Management LLC's holdings in Marathon Petroleum were worth $779,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MPC. Net Worth Advisory Group boosted its position in Marathon Petroleum by 2.0% in the third quarter. Net Worth Advisory Group now owns 9,506 shares of the oil and gas company's stock valued at $3,994,000 after buying an additional 189 shares in the last quarter. Parkway Wealth Management Group LLC acquired a new stake in shares of Marathon Petroleum during the third quarter valued at about $4,521,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Marathon Petroleum by 0.7% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 40,336 shares of the oil and gas company's stock worth $15,950,000 after purchasing an additional 267 shares during the last quarter. Maia Wealth LLC acquired a new position in shares of Marathon Petroleum in the third quarter valued at approximately $239,000. Finally, Tanager Wealth Management LLP acquired a new stake in Marathon Petroleum during the 3rd quarter worth approximately $220,000. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Stock Down 0.4%

Shares of Marathon Petroleum stock traded down $1.80 on Tuesday, hitting $471.89. The company had a trading volume of 1,010,574 shares, compared to its average volume of 2,468,446. The stock has a market capitalization of $137.76 billion, a price-to-earnings ratio of 16.25, a P/E/G ratio of 0.14 and a beta of 0.54. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25. Marathon Petroleum Corporation has a 1 year low of $161.93 and a 1 year high of $493.98. The stock has a 50 day moving average of $400.75 and a 200-day moving average of $311.01.

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 firm had revenue of $51.99 billion for the quarter, compared to the consensus estimate of $40.87 billion. During the same period in the previous year, the firm earned $3.96 EPS. The business's revenue for the quarter was up 53.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Marathon Petroleum Corporation will post 62.78 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were given a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $4.00 annualized dividend and a yield of 0.8%. Marathon Petroleum's payout ratio is currently 13.75%.

Wall Street Analyst Weigh In

MPC has been the topic of several recent research reports. Morgan Stanley lifted their target price on Marathon Petroleum from $265.00 to $453.00 and gave the stock an "overweight" rating in a report on Monday, September 14th. Mizuho boosted their target price on shares of Marathon Petroleum from $304.00 to $457.00 and gave the company a "neutral" rating in a report on Thursday, October 8th. Weiss Ratings raised Marathon Petroleum from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, October 8th. Bank of America raised their price objective on shares of Marathon Petroleum from $410.00 to $426.00 and gave the stock a "neutral" rating in a research report on Friday, October 2nd. Finally, The Goldman Sachs Group lifted their price target on shares of Marathon Petroleum from $376.00 to $472.00 and gave the company a "buy" rating in a research note on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Marathon Petroleum has an average rating of "Moderate Buy" and a consensus target price of $417.88.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, VP Erin M. Brzezinski sold 570 shares of the business's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total value of $206,790.30. Following the sale, the vice president directly owned 1,576 shares in the company, valued at $571,757.04. The trade was a 26.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Shawn M. Lyon sold 2,500 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total value of $875,000.00. Following the transaction, the senior vice president owned 12,619 shares of the company's stock, valued at $4,416,650. The trade was a 16.54% 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 in the last quarter. 0.17% of the stock is currently owned by company insiders.

Marathon Petroleum Profile

Marathon Petroleum Corporation NYSE: MPC is an American downstream energy company engaged in refining, marketing, and transporting petroleum products. Its operations include converting crude oil into gasoline, diesel, jet fuel, asphalt, propane, and other refined products used by transportation, industrial, and commercial customers.

The company markets fuel under the Marathon brand and supplies products to independent marketers, commercial businesses, and other wholesale customers. Marathon Petroleum also owns a general-partner interest and significant limited-partner interest in MPLX Inc, a midstream company that operates pipelines, storage facilities, terminals, and gathering and processing assets supporting the movement of crude oil and natural gas liquids.

Marathon Petroleum's refining and midstream activities are concentrated in the United States, with assets serving regions across the Midwest, Gulf Coast, and West Coast.

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