Pinnacle Wealth Planning Services Inc. Sells 9,451 Shares of Marathon Petroleum Co. (NYSE:MPC)

Pinnacle Wealth Planning Services Inc. cut its stake in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 85.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,618 shares of the oil and gas company's stock after selling 9,451 shares during the period. Pinnacle Wealth Planning Services Inc.'s holdings in Marathon Petroleum were worth $226,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of MPC. SWS Partners increased its holdings in shares of Marathon Petroleum by 19.0% during the fourth quarter. SWS Partners now owns 17,577 shares of the oil and gas company's stock worth $2,452,000 after buying an additional 2,806 shares in the last quarter. Greatmark Investment Partners Inc. boosted its stake in Marathon Petroleum by 3.5% in the fourth quarter. Greatmark Investment Partners Inc. now owns 161,171 shares of the oil and gas company's stock worth $22,483,000 after purchasing an additional 5,476 shares in the last quarter. TCTC Holdings LLC increased its stake in shares of Marathon Petroleum by 3.3% in the fourth quarter. TCTC Holdings LLC now owns 91,256 shares of the oil and gas company's stock valued at $12,730,000 after buying an additional 2,892 shares in the last quarter. Cambridge Financial Group Inc. bought a new position in shares of Marathon Petroleum in the fourth quarter valued at about $5,624,000. Finally, Nilsine Partners LLC lifted its position in Marathon Petroleum by 5.6% during the 4th quarter. Nilsine Partners LLC now owns 32,683 shares of the oil and gas company's stock worth $4,559,000 after buying an additional 1,746 shares in the last quarter. Institutional investors own 76.77% of the company's stock.

Insider Activity

In other Marathon Petroleum news, Director Evan Bayh acquired 1,000 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the acquisition, the director now directly owns 69,305 shares of the company's stock, valued at approximately $9,266,078.50. This trade represents a 1.46% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ricky D. Hessling bought 2,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average cost of $134.72 per share, with a total value of $269,440.00. Following the completion of the purchase, the insider now owns 12,162 shares in the company, valued at $1,638,464.64. This represents a 19.68% increase in their position. The disclosure for this purchase can be found here. 0.21% of the stock is owned by company insiders.

Marathon Petroleum Trading Up 0.8%

NYSE MPC traded up $1.24 on Thursday, reaching $159.85. The company had a trading volume of 1,961,170 shares, compared to its average volume of 2,703,272. Marathon Petroleum Co. has a 52 week low of $115.10 and a 52 week high of $183.31. The stock's 50 day moving average is $142.15 and its 200-day moving average is $146.17. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The stock has a market cap of $49.11 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 3.11 and a beta of 0.87.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, beating analysts' consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The company had revenue of $31.85 billion during the quarter, compared to analysts' expectations of $28.91 billion. During the same period in the prior year, the business posted $2.58 EPS. Marathon Petroleum's revenue was down 4.1% on a year-over-year basis. Equities analysts predict that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.28%. Marathon Petroleum's dividend payout ratio is 51.20%.

Wall Street Analyst Weigh In

MPC has been the subject of a number of research analyst reports. Raymond James dropped their target price on shares of Marathon Petroleum from $193.00 to $183.00 and set a "strong-buy" rating for the company in a research note on Wednesday, April 9th. Morgan Stanley dropped their price objective on shares of Marathon Petroleum from $175.00 to $160.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Mizuho upped their price objective on Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Tudor Pickering raised Marathon Petroleum from a "strong sell" rating to a "hold" rating in a research note on Tuesday, February 4th. Finally, Barclays upped their price target on Marathon Petroleum from $141.00 to $159.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $175.29.

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.