Prosperity Consulting Group LLC Sells 1,644 Shares of Marathon Petroleum Corporation $MPC

Prosperity Consulting Group LLC lowered its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 9.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 15,041 shares of the oil and gas company’s stock after selling 1,644 shares during the period. Prosperity Consulting Group LLC’s holdings in Marathon Petroleum were worth $2,498,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MPC. Huntington National Bank grew its holdings in Marathon Petroleum by 3.0% during the 2nd quarter. Huntington National Bank now owns 30,964 shares of the oil and gas company’s stock valued at $5,143,000 after buying an additional 889 shares in the last quarter. Bridgewater Advisors Inc. bought a new stake in Marathon Petroleum in the second quarter worth $261,000. Peregrine Asset Advisers Inc. lifted its position in Marathon Petroleum by 5.8% in the second quarter. Peregrine Asset Advisers Inc. now owns 1,742 shares of the oil and gas company’s stock worth $289,000 after buying an additional 95 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Marathon Petroleum by 12.8% in the second quarter. Bank of New York Mellon Corp now owns 5,619,398 shares of the oil and gas company’s stock worth $933,438,000 after buying an additional 637,050 shares during the last quarter. Finally, Corton Capital Inc. lifted its position in Marathon Petroleum by 114.4% in the second quarter. Corton Capital Inc. now owns 3,685 shares of the oil and gas company’s stock worth $612,000 after buying an additional 1,966 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

MPC opened at $195.93 on Tuesday. The business’s 50-day moving average is $186.93 and its two-hundred day moving average is $170.76. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $201.61. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. The firm has a market capitalization of $59.57 billion, a PE ratio of 29.07, a price-to-earnings-growth ratio of 4.08 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results 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 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 earned $4.12 earnings per share. The company’s revenue was down 11.1% on a year-over-year basis. Research analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th will be paid a dividend of $1.00 per share. The ex-dividend date is Wednesday, November 19th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.0%. Marathon Petroleum’s payout ratio is presently 54.01%.

Insider Buying and Selling at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of the business’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 sale, the insider owned 28,700 shares in the company, valued at approximately $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MPC shares. Raymond James Financial restated an “outperform” rating and issued a $203.00 price target (up from $199.00) on shares of Marathon Petroleum in a research report on Friday, October 17th. Piper Sandler lifted their target price on Marathon Petroleum from $184.00 to $222.00 and gave the stock a “neutral” rating in a research report on Thursday, September 11th. Citigroup lifted their target price on Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. Wells Fargo & Company began coverage on Marathon Petroleum in a report on Friday, October 17th. They issued an “overweight” rating and a $214.00 price objective for the company. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Marathon Petroleum in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $200.31.

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.