Marathon Petroleum Corporation (NYSE:MPC) Shares Sold by Gilliland Jeter Wealth Management LLC

Gilliland Jeter Wealth Management LLC reduced its position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 8.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 23,653 shares of the oil and gas company's stock after selling 2,056 shares during the quarter. Marathon Petroleum comprises approximately 1.2% of Gilliland Jeter Wealth Management LLC's holdings, making the stock its 18th largest holding. Gilliland Jeter Wealth Management LLC's holdings in Marathon Petroleum were worth $3,446,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Buckley Wealth Management LLC lifted its position in Marathon Petroleum by 0.5% in the fourth quarter. Buckley Wealth Management LLC now owns 14,325 shares of the oil and gas company's stock worth $1,998,000 after buying an additional 75 shares during the last quarter. Beverly Hills Private Wealth LLC boosted its stake in shares of Marathon Petroleum by 1.2% during the 4th quarter. Beverly Hills Private Wealth LLC now owns 6,655 shares of the oil and gas company's stock worth $928,000 after purchasing an additional 76 shares during the period. Intact Investment Management Inc. grew its holdings in Marathon Petroleum by 19.0% during the 4th quarter. Intact Investment Management Inc. now owns 500 shares of the oil and gas company's stock valued at $70,000 after purchasing an additional 80 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its position in Marathon Petroleum by 2.0% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 4,291 shares of the oil and gas company's stock worth $599,000 after purchasing an additional 84 shares during the period. Finally, Valmark Advisers Inc. lifted its stake in Marathon Petroleum by 2.3% in the first quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company's stock worth $554,000 after purchasing an additional 86 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Kim K.W. Rucker sold 7,392 shares of the company's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the transaction, the director directly owned 18,944 shares of the company's stock, valued at approximately $3,315,200. This represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.21% of the stock is currently owned by company insiders.

Marathon Petroleum Stock Up 1.7%

MPC stock traded up $3.02 during trading on Thursday, hitting $182.29. 3,765,747 shares of the company's stock traded hands, compared to its average volume of 2,708,318. The business has a fifty day simple moving average of $162.09 and a two-hundred day simple moving average of $149.26. The company has a quick ratio of 0.73, a current ratio of 1.19 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $56.00 billion, a P/E ratio of 25.64, a PEG ratio of 3.47 and a beta of 0.88. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $183.31.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, topping analysts' consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The business had revenue of $31.85 billion during the quarter, compared to the consensus estimate of $28.91 billion. During the same period in the previous year, the company posted $2.58 earnings per share. The firm's revenue was down 4.1% on a year-over-year basis. Sell-side analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were given a dividend of $0.91 per share. The ex-dividend date was Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a yield of 2.00%. Marathon Petroleum's payout ratio is 51.20%.

Analyst Ratings Changes

A number of research firms have recently commented on MPC. Barclays upped their target price on Marathon Petroleum from $141.00 to $159.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. Scotiabank reduced their target price on Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Wall Street Zen raised shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Evercore ISI began coverage on shares of Marathon Petroleum in a research note on Wednesday, June 18th. They issued an "in-line" rating and a $170.00 price target on the stock. Finally, TD Cowen boosted their price objective on shares of Marathon Petroleum from $152.00 to $163.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $180.44.

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.