Marathon Petroleum Corporation $MPC Shares Sold by Philadelphia Trust Co.

Philadelphia Trust Co. lessened its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 37.2% during the third quarter, Holdings Channel reports. The fund owned 43,378 shares of the oil and gas company’s stock after selling 25,661 shares during the period. Marathon Petroleum makes up 1.1% of Philadelphia Trust Co.’s holdings, making the stock its 21st largest holding. Philadelphia Trust Co.’s holdings in Marathon Petroleum were worth $17,153,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Solstein Capital LLC bought a new position in Marathon Petroleum during the second quarter worth $26,000. Caitlin John LLC bought a new position in shares of Marathon Petroleum in the second quarter valued at about $26,000. Bell Investment Advisors Inc bought a new position in shares of Marathon Petroleum in the second quarter valued at about $27,000. Main Street Group LTD bought a new position in shares of Marathon Petroleum in the first quarter valued at about $35,000. Finally, Cetera Trust Company N.A acquired a new stake in shares of Marathon Petroleum during the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on MPC shares. UBS Group set a $510.00 target price on shares of Marathon Petroleum in a report on Friday, October 9th. Barclays increased their price target on shares of Marathon Petroleum from $321.00 to $488.00 and gave the company an “overweight” rating in a report on Monday, October 12th. Jefferies Financial Group restated a “hold” rating and set a $433.00 price objective on shares of Marathon Petroleum in a research report on Sunday, October 11th. Piper Sandler boosted their price objective on Marathon Petroleum from $462.00 to $466.00 and gave the stock an “overweight” rating in a report on Thursday, November 5th. Finally, Mizuho upped their target price on Marathon Petroleum from $304.00 to $457.00 and gave the company a “neutral” rating in a research report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $425.12.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $389.90 on Wednesday. The firm has a 50 day moving average of $422.42 and a 200-day moving average of $297.48. Marathon Petroleum Corporation has a 12 month low of $161.93 and a 12 month high of $493.98. The company has a current ratio of 1.45, a quick ratio of 1.09 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $106.16 billion, a PE ratio of 13.40, a PEG ratio of 0.10 and a beta of 0.53.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, November 3rd. The oil and gas company reported $26.93 earnings per share for the quarter, beating analysts’ consensus estimates of $25.37 by $1.56. Marathon Petroleum had a return on equity of 55.82% and a net margin of 8.27%. The firm had revenue of $56.03 billion for the quarter, compared to the consensus estimate of $46.60 billion. During the same quarter last year, the business posted $3.01 EPS. The company’s revenue was up 57.6% compared to the same quarter last year. On average, equities research analysts predict that Marathon Petroleum Corporation will post 66.31 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, November 18th. Marathon Petroleum’s dividend payout ratio is currently 13.75%.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, VP Erin M. Brzezinski sold 570 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $362.79, for a total transaction of $206,790.30. Following the completion of the transaction, the vice president owned 1,576 shares of the company’s stock, valued at approximately $571,757.04. The trade was a 26.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Molly R. Benson sold 17,196 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $358.57, for a total value of $6,165,969.72. Following the transaction, the insider directly owned 30,334 shares of the company’s stock, valued at approximately $10,876,862.38. The trade was a 36.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 21,691 shares of company stock valued at $7,780,127 over the last ninety days. 0.17% of the stock is owned by corporate insiders.

Marathon Petroleum Profile

Marathon Petroleum Corporation is an integrated downstream energy company focused on refining, marketing, and transporting petroleum products. Its refineries produce fuels and other products, including gasoline, diesel, jet fuel, asphalt, and petrochemical feedstocks. The company sells transportation fuels and related products through a network of branded locations and other wholesale and commercial channels, primarily in the United States. Its midstream operations, conducted largely through its affiliated partnership MPLX, include gathering, processing, and transporting natural gas and natural gas liquids, as well as storing and transporting crude oil and refined products.