NewEdge Advisors LLC Sells 8,140 Shares of Marathon Petroleum Corporation $MPC

Key Points

• NewEdge Advisors reduced its Marathon Petroleum position by 9.1%, selling 8,140 shares and retaining 81,088 shares valued at approximately $19.8 million. Institutional investors collectively own 76.77% of MPC.
• Marathon Petroleum reported a strong quarter, with EPS of $17.73 versus the $14.27 consensus and revenue of $51.99 billion, up 53.5% year over year.
• The company declared a quarterly dividend of $1.00 per share, equivalent to an annualized $4.00 payout and a 1.3% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $311.25.

NewEdge Advisors LLC lowered its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 9.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 81,088 shares of the oil and gas company's stock after selling 8,140 shares during the quarter. NewEdge Advisors LLC's holdings in Marathon Petroleum were worth $19,800,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Equitable Trust Co. boosted its position 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 buying an additional 42 shares during the period. Bartlett & CO. Wealth Management LLC raised its holdings in shares of Marathon Petroleum by 0.4% during the 1st 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 buying an additional 42 shares during the period. Wellington Grp LLC lifted its position in Marathon Petroleum by 9.6% during the 1st quarter. Wellington Grp LLC now owns 516 shares of the oil and gas company's stock worth $126,000 after acquiring an additional 45 shares in the last quarter. Hunter Associates Investment Management LLC boosted its holdings in Marathon Petroleum by 1.6% in the 1st quarter. Hunter Associates Investment Management LLC now owns 3,220 shares of the oil and gas company's stock worth $786,000 after acquiring an additional 50 shares during the period. Finally, Creative Financial Designs Inc. ADV boosted its holdings in Marathon Petroleum by 2.6% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 2,050 shares of the oil and gas company's stock worth $333,000 after acquiring an additional 51 shares during the period. Hedge funds and other institutional investors own 76.77% of the company's stock.

Marathon Petroleum Trading Down 0.6%

NYSE MPC opened at $297.49 on Friday. The company has a market capitalization of $86.85 billion, a price-to-earnings ratio of 10.23, a price-to-earnings-growth ratio of 0.20 and a beta of 0.52. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.73. Marathon Petroleum Corporation has a 12 month low of $158.00 and a 12 month high of $326.92. The company's fifty day moving average price is $279.39 and its two-hundred day moving average price is $241.82.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, beating 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 business had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. The company's revenue for the quarter was up 53.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.96 EPS. As a group, research analysts predict that Marathon Petroleum Corporation will post 44.54 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, August 19th. Marathon Petroleum's dividend payout ratio (DPR) is currently 13.75%.

Insider Buying and Selling

In other news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the transaction, the vice president owned 16,900 shares in the company, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of Marathon Petroleum from $291.00 to $376.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. UBS Group reiterated a "buy" rating and issued a $321.00 price objective on shares of Marathon Petroleum in a report on Friday, July 10th. Mizuho upped their price objective on shares of Marathon Petroleum from $224.00 to $284.00 and gave the company a "neutral" rating in a research report on Wednesday, May 27th. Raymond James Financial raised their target price on Marathon Petroleum from $300.00 to $335.00 and gave the company an "outperform" rating in a research note on Monday, July 13th. Finally, Bank of America lifted their target price on Marathon Petroleum from $224.00 to $260.00 in a research report on Tuesday, May 26th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $311.25.

About Marathon Petroleum

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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