Marathon Petroleum (NYSE:MPC) VP Sells 570 Shares of Stock

Key Points

• Marathon Petroleum VP Erin Brzezinski sold 570 shares at an average price of $362.79, generating $206,790.30 and reducing her ownership by 26.56% to 1,576 shares.
• MPC shares recently traded near their 52-week high at $374.48, while the company reported quarterly EPS of $17.73—well above the $14.27 analyst consensus—and revenue growth of 53.5% year over year.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus, while Marathon Petroleum declared a $1.00 quarterly dividend, equivalent to a 1.1% yield.

Marathon Petroleum Corporation (NYSE:MPC - Get Free Report) VP Erin Brzezinski sold 570 shares of the firm'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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC traded up $5.65 on Monday, reaching $374.48. 3,625,246 shares of the company's stock were exchanged, compared to its average volume of 2,451,391. The business's 50-day moving average is $308.87 and its two-hundred day moving average is $260.60. 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 Corporation has a fifty-two week low of $161.93 and a fifty-two week high of $376.56. The firm has a market capitalization of $109.32 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 0.24 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $40.87 billion. During the same period in the previous year, the business posted $3.96 EPS. The company's quarterly revenue was up 53.5% on a year-over-year basis. As a group, equities research analysts forecast that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. Marathon Petroleum's dividend payout ratio (DPR) is 13.75%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MPC shares. BMO Capital Markets reissued an "outperform" rating on shares of Marathon Petroleum in a report on Friday, June 12th. Raymond James Financial boosted their target price on shares of Marathon Petroleum from $300.00 to $335.00 and gave the company an "outperform" rating in a research note on Monday, July 13th. Evercore set a $330.00 target price on shares of Marathon Petroleum in a research report on Wednesday, August 5th. The Goldman Sachs Group lifted their price target on Marathon Petroleum from $291.00 to $376.00 and gave the company a "buy" rating in a report on Wednesday, July 22nd. Finally, Weiss Ratings raised Marathon Petroleum from a "hold (c+)" rating to a "buy (b)" rating in a report on Wednesday, August 5th. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Marathon Petroleum has a consensus rating of "Moderate Buy" and a consensus target price of $312.50.

Institutional Trading of Marathon Petroleum

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System lifted its position in Marathon Petroleum by 36,834.6% in the second quarter. California State Teachers Retirement System now owns 128,810,637 shares of the oil and gas company's stock worth $32,933,016,000 after purchasing an additional 128,461,884 shares during the period. BlackRock Inc. acquired a new position in Marathon Petroleum during the second quarter worth about $6,648,958,000. Bank of New York Mellon Corp bought a new stake in Marathon Petroleum in the second quarter worth about $1,029,611,000. Norges Bank acquired a new stake in Marathon Petroleum in the 4th quarter valued at about $472,312,000. Finally, Bank of America Corp DE bought a new position in shares of Marathon Petroleum during the 2nd quarter valued at about $621,832,000. 76.77% of the stock is currently owned by institutional investors.

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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