Venture Visionary Partners LLC Cuts Holdings in Marathon Petroleum Corporation $MPC

Key Points

• Venture Visionary Partners cut its Marathon Petroleum stake by 9.4% in the third quarter, selling 2,969 shares and retaining 28,489 shares valued at approximately $11.3 million. Institutional investors collectively own 76.77% of the company.
• Marathon Petroleum insiders sold 21,691 shares worth approximately $7.8 million over the past three months, while insiders own just 0.17% of the stock.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $370.38 price target. Shares recently traded at $441.88 after rising 2.2%, and the company reported quarterly earnings of $17.73 per share, well above estimates.

Venture Visionary Partners LLC lowered its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 9.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,489 shares of the oil and gas company's stock after selling 2,969 shares during the quarter. Venture Visionary Partners LLC's holdings in Marathon Petroleum were worth $11,266,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capstone Financial Advisors Inc. increased its stake in Marathon Petroleum by 1.8% in the second quarter. Capstone Financial Advisors Inc. now owns 1,938 shares of the oil and gas company's stock worth $495,000 after purchasing an additional 34 shares during the period. Eastern Bank lifted its position in shares of Marathon Petroleum by 2.1% in the 3rd quarter. Eastern Bank now owns 1,936 shares of the oil and gas company's stock worth $766,000 after purchasing an additional 39 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in Marathon Petroleum by 3.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,288 shares of the oil and gas company's stock worth $329,000 after buying an additional 40 shares during the period. Equitable Trust Co. boosted its position in Marathon Petroleum by 1.6% during the first quarter. Equitable Trust Co. now owns 2,637 shares of the oil and gas company's stock valued at $644,000 after purchasing an additional 42 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC boosted its holdings in shares of Marathon Petroleum by 0.4% in 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 in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, SVP Shawn M. Lyon sold 2,500 shares of the business's stock in a transaction that occurred 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Erin M. Brzezinski sold 570 shares of the company'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 transaction, the vice president owned 1,576 shares in the company, valued at $571,757.04. This trade represents a 26.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 21,691 shares of company stock worth $7,780,127. 0.17% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. UBS Group reaffirmed a "buy" rating on shares of Marathon Petroleum in a research report on Thursday, October 1st. Weiss Ratings upgraded Marathon Petroleum from a "hold (c+)" rating to a "buy (b)" rating in a research note on Wednesday, August 5th. Jefferies Financial Group reiterated a "hold" rating and issued a $413.00 target price on shares of Marathon Petroleum in a research note on Monday, September 21st. Morgan Stanley increased their price target on Marathon Petroleum from $265.00 to $453.00 and gave the stock an "overweight" rating in a research report on Monday, September 14th. Finally, Evercore set a $330.00 target price on shares of Marathon Petroleum in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $370.38.

Marathon Petroleum Trading Up 2.2%

NYSE:MPC traded up $9.52 on Wednesday, reaching $441.88. The company's stock had a trading volume of 1,923,747 shares, compared to its average volume of 2,499,254. Marathon Petroleum Corporation has a 12-month low of $161.93 and a 12-month high of $444.99. The stock has a 50 day moving average price of $374.68 and a 200 day moving average price of $298.14. The firm has a market cap of $129.00 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 0.13 and a beta of 0.54. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, topping analysts' consensus estimates of $14.27 by $3.46. The business had revenue of $51.99 billion during the quarter, compared to analysts' expectations of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The company's revenue was up 53.5% compared to the same quarter last year. During the same period in the prior year, the business posted $3.96 EPS. On average, equities analysts anticipate that Marathon Petroleum Corporation will post 61.31 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, August 19th. Marathon Petroleum's payout ratio is 13.75%.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation NYSE: MPC is an integrated downstream energy company engaged primarily in refining, marketing and transporting petroleum products. The company converts crude oil and other feedstocks into gasoline, diesel, jet fuel, asphalt, propane and other refined products used by consumers, businesses and industrial customers.

Marathon Petroleum operates refineries and related logistics assets in the United States, with a refining and marketing presence serving markets across the Midwest, Gulf Coast and West Coast.

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