Canopy Partners LLC Sells 94 Shares of Marathon Petroleum Corporation $MPC

Canopy Partners LLC lowered its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 1.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,654 shares of the oil and gas company’s stock after selling 94 shares during the quarter. Canopy Partners LLC’s holdings in Marathon Petroleum were worth $1,105,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Baker Tilly Wealth Management LLC grew its holdings in Marathon Petroleum by 2.8% during the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company’s stock worth $370,000 after acquiring an additional 60 shares during the last quarter. CHICAGO TRUST Co NA grew its holdings in Marathon Petroleum by 3.9% during the 2nd quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company’s stock worth $280,000 after acquiring an additional 63 shares during the last quarter. Sunpointe LLC grew its holdings in Marathon Petroleum by 4.1% during the 2nd quarter. Sunpointe LLC now owns 1,750 shares of the oil and gas company’s stock worth $291,000 after acquiring an additional 69 shares during the last quarter. Beverly Hills Private Wealth LLC lifted its position in Marathon Petroleum by 1.3% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 6,739 shares of the oil and gas company’s stock valued at $982,000 after purchasing an additional 84 shares during the period. Finally, Valmark Advisers Inc. lifted its position in Marathon Petroleum by 2.3% during the 1st quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company’s stock valued at $554,000 after purchasing an additional 86 shares during the period. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $191.37 on Wednesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. The company has a market capitalization of $58.18 billion, a P/E ratio of 28.39, a price-to-earnings-growth ratio of 3.25 and a beta of 0.90. The company’s 50 day moving average price is $177.71 and its two-hundred day moving average price is $162.83. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $201.61.

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

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were issued a $0.91 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.9%. Marathon Petroleum’s dividend payout ratio (DPR) is 54.01%.

Insider Activity

In other news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum 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 sale, the insider directly owned 28,700 shares in the company, valued at $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MPC. Wolfe Research downgraded shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 14th. Dbs Bank upgraded shares of Marathon Petroleum to a “moderate buy” rating in a research report on Monday, July 28th. BMO Capital Markets upped their target price on shares of Marathon Petroleum from $195.00 to $208.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Mizuho increased their price target on shares of Marathon Petroleum from $184.00 to $188.00 and gave the company a “neutral” rating in a research report on Monday, September 15th. Finally, TD Cowen cut their price target on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Eight analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $196.29.

Marathon Petroleum Company 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.