Marathon Petroleum Corporation $MPC Shares Sold by Interchange Capital Partners LLC

Interchange Capital Partners LLC reduced its position in Marathon Petroleum Corporation (NYSE:MPC) by 91.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,046 shares of the oil and gas company’s stock after selling 10,972 shares during the quarter. Interchange Capital Partners LLC’s holdings in Marathon Petroleum were worth $174,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Baker Tilly Wealth Management LLC lifted its position 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 in the last quarter. CHICAGO TRUST Co NA increased its holdings in shares of Marathon Petroleum by 3.9% in the 2nd quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company’s stock valued at $280,000 after acquiring an additional 63 shares during the last quarter. Sunpointe LLC increased its holdings in shares of Marathon Petroleum by 4.1% in the 2nd quarter. Sunpointe LLC now owns 1,750 shares of the oil and gas company’s stock valued at $291,000 after acquiring an additional 69 shares during the last quarter. Beverly Hills Private Wealth LLC increased its holdings in shares of Marathon Petroleum by 1.3% in 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 acquiring an additional 84 shares during the last quarter. Finally, Harbour Investments Inc. grew its stake in Marathon Petroleum by 1.8% during the 2nd quarter. Harbour Investments Inc. now owns 4,755 shares of the oil and gas company’s stock worth $790,000 after buying an additional 85 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Molly R. Benson sold 10,879 shares of the company’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the sale, the insider owned 28,700 shares in the company, valued at approximately $4,678,100. This represents a 27.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on MPC shares. Piper Sandler upped their price objective on Marathon Petroleum from $184.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, September 11th. Mizuho upped their price objective on Marathon Petroleum from $184.00 to $188.00 and gave the company a “neutral” rating in a report on Monday, September 15th. UBS Group boosted their target price on Marathon Petroleum from $203.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Bank of America boosted their target price on Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 3rd. Finally, Citigroup upped their price target on Marathon Petroleum from $144.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average price target of $199.31.

Marathon Petroleum Stock Performance

MPC opened at $183.23 on Wednesday. The company has a market cap of $55.71 billion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 3.11 and a beta of 0.90. The stock has a 50-day moving average of $179.32 and a 200-day moving average of $164.12. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $201.61. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23.

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

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was 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.