Philadelphia Trust Co. Sells 10,066 Shares of Marathon Petroleum Corporation (NYSE:MPC)

Philadelphia Trust Co. trimmed its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 12.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 73,796 shares of the oil and gas company’s stock after selling 10,066 shares during the period. Marathon Petroleum makes up about 0.9% of Philadelphia Trust Co.’s investment portfolio, making the stock its 26th biggest position. Philadelphia Trust Co.’s holdings in Marathon Petroleum were worth $10,751,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Fourth Dimension Wealth LLC acquired a new stake in Marathon Petroleum in the 4th quarter valued at about $26,000. CBIZ Investment Advisory Services LLC increased its position in 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 valued at $31,000 after acquiring an additional 201 shares in the last quarter. Hughes Financial Services LLC acquired a new stake in Marathon Petroleum in the 1st quarter valued at about $32,000. Decker Retirement Planning Inc. increased its position in Marathon Petroleum by 1,621.4% in the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 227 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in Marathon Petroleum in the 1st quarter valued at about $35,000. 76.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Raymond James Financial restated an “outperform” rating and issued a $200.00 price objective (up previously from $180.00) on shares of Marathon Petroleum in a research report on Tuesday, July 15th. Mizuho raised their price objective on shares of Marathon Petroleum from $168.00 to $184.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. Morgan Stanley lifted their price target on shares of Marathon Petroleum from $160.00 to $182.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. Scotiabank reiterated an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, July 11th. Finally, Citigroup lifted their price target on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Hold” and a consensus target price of $185.29.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the company’s stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the sale, the director directly owned 18,944 shares of the company’s stock, valued at approximately $3,315,200. This represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.21% of the company’s stock.

Marathon Petroleum Stock Up 0.1%

Marathon Petroleum stock opened at $162.41 on Friday. The stock has a market capitalization of $49.38 billion, a PE ratio of 24.10, a price-to-earnings-growth ratio of 2.95 and a beta of 0.90. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $183.10. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The company has a 50 day moving average of $169.42 and a 200-day moving average of $154.02.

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

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be given 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 is 54.01%.

Marathon Petroleum 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.