Molly Benson Sells 10,879 Shares of Marathon Petroleum (NYSE:MPC) Stock

Key Points

• Insider Molly Benson sold 10,879 shares of Marathon Petroleum (NYSE:MPC) stock for approximately $1.77 million, reducing their ownership by 27.49% to 28,700 shares.
• Marathon Petroleum reported $3.96 earnings per share for the last quarter, exceeding analysts' expectations of $3.22, despite an 11.1% year-over-year revenue decline.
• The company announced a quarterly dividend of $0.91 per share, with an annual yield of 2.2%, payable to investors of record on August 20th.

Marathon Petroleum Corporation (NYSE:MPC - Get Free Report) insider Molly Benson sold 10,879 shares of the business's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the transaction, the insider owned 28,700 shares of the company's stock, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Marathon Petroleum Trading Up 0.6%

Shares of NYSE MPC traded up $1.0060 during trading hours on Tuesday, hitting $163.6760. 909,450 shares of the company traded hands, compared to its average volume of 2,633,835. The company's 50 day moving average price is $169.47 and its 200 day moving average price is $154.19. The stock has a market capitalization of $49.76 billion, a price-to-earnings ratio of 24.27, a price-to-earnings-growth ratio of 2.95 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 12 month low of $115.10 and a 12 month high of $183.10.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, topping analysts' consensus estimates of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The firm had revenue of $34.10 billion during the quarter, compared to analysts' expectations of $31.70 billion. During the same period in the prior year, the business posted $4.12 EPS. The firm's quarterly revenue was down 11.1% on a year-over-year basis. On average, equities research analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MPC. Raymond James Financial reaffirmed an "outperform" rating and issued a $200.00 price target (up from $180.00) on shares of Marathon Petroleum in a research note on Tuesday, July 15th. Wall Street Zen upgraded Marathon Petroleum from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. TD Cowen lowered their target price on Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Wells Fargo & Company upped their price objective on Marathon Petroleum from $182.00 to $205.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Scotiabank reissued an "outperform" rating on shares of Marathon Petroleum in a report on Friday, July 11th. Eight analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $185.29.

Hedge Funds Weigh In On Marathon Petroleum

A number of large investors have recently modified their holdings of MPC. Delos Wealth Advisors LLC acquired a new stake in shares of Marathon Petroleum in the 2nd quarter worth approximately $25,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $26,000. Activest Wealth Management grew its holdings in shares of Marathon Petroleum by 290.2% in the 2nd quarter. Activest Wealth Management now owns 160 shares of the oil and gas company's stock worth $27,000 after acquiring an additional 119 shares during the period. CBIZ Investment Advisory Services LLC grew its holdings in shares of Marathon Petroleum by 1,546.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company's stock worth $31,000 after acquiring an additional 201 shares during the period. Finally, Hughes Financial Services LLC acquired a new stake in shares of Marathon Petroleum in the 1st quarter worth approximately $32,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.