Philadelphia Trust Co. Has $10.75 Million Stock Holdings in Marathon Petroleum Corporation $MPC

Key Points

• Philadelphia Trust Co. reduced its holdings in Marathon Petroleum by 12%, selling 10,066 shares, with the remaining stake valued at approximately $10.75 million.
• Marathon Petroleum's recent earnings exceeded expectations, reporting $3.96 EPS for the quarter, which is $0.74 above analysts' estimates.
• The company declared a quarterly dividend of $0.91 per share, with a 2.2% yield and a payout ratio of 54.01%.

Philadelphia Trust Co. trimmed its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 12.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,796 shares of the oil and gas company's stock after selling 10,066 shares during the period. Marathon Petroleum accounts for 0.9% of Philadelphia Trust Co.'s holdings, making the stock its 26th largest position. Philadelphia Trust Co.'s holdings in Marathon Petroleum were worth $10,751,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Beverly Hills Private Wealth LLC boosted its stake in shares of Marathon Petroleum by 1.2% in the fourth quarter. Beverly Hills Private Wealth LLC now owns 6,655 shares of the oil and gas company's stock valued at $928,000 after buying an additional 76 shares during the period. Sunpointe LLC boosted its stake in shares of Marathon Petroleum by 5.1% in the first quarter. Sunpointe LLC now owns 1,681 shares of the oil and gas company's stock valued at $245,000 after buying an additional 81 shares during the period. Valmark Advisers Inc. boosted its stake in shares of 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 valued at $554,000 after buying an additional 86 shares during the period. Southland Equity Partners LLC boosted its stake in shares of Marathon Petroleum by 6.2% in the first quarter. Southland Equity Partners LLC now owns 1,549 shares of the oil and gas company's stock valued at $226,000 after buying an additional 90 shares during the period. Finally, Prudent Man Advisors LLC boosted its stake in shares of Marathon Petroleum by 2.3% in the first quarter. Prudent Man Advisors LLC now owns 4,056 shares of the oil and gas company's stock valued at $591,000 after buying an additional 91 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Trading Up 1.0%

NYSE:MPC traded up $1.5870 during trading hours on Tuesday, hitting $164.2570. 2,155,245 shares of the company were exchanged, compared to its average volume of 1,709,800. The stock has a market capitalization of $49.94 billion, a price-to-earnings ratio of 25.58, a price-to-earnings-growth ratio of 2.96 and a beta of 0.90. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $183.10. The company has a fifty day simple moving average of $169.47 and a 200 day simple moving average of $154.19.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The business had revenue of $34.10 billion during the quarter, compared to analyst estimates of $31.70 billion. During the same period last year, the company earned $4.12 EPS. Marathon Petroleum's revenue for the quarter was down 11.1% compared to the same quarter last year. Sell-side analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th will be given a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.2%. Marathon Petroleum's dividend payout ratio (DPR) is 54.01%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MPC. Dbs Bank raised Marathon Petroleum to a "moderate buy" rating in a report on Monday, July 28th. Raymond James Financial reaffirmed an "outperform" rating and issued a $200.00 target price (up previously from $180.00) on shares of Marathon Petroleum in a report on Tuesday, July 15th. Wolfe Research downgraded Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Wall Street Zen raised Marathon Petroleum from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, TD Cowen reduced their target price on Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Eight investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $185.29.

Insider Activity

In other news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the transaction, the insider directly owned 28,700 shares of the company's stock, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total value of $1,293,600.00. Following the completion of the transaction, the director directly owned 18,944 shares of the company's stock, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.25% of the company's stock.

Marathon Petroleum Company Profile

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.