Marathon Petroleum Corporation $MPC Shares Sold by Mission Wealth Management LP

Mission Wealth Management LP cut its position in Marathon Petroleum Corporation (NYSE:MPC) by 10.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,860 shares of the oil and gas company’s stock after selling 1,013 shares during the quarter. Mission Wealth Management LP’s holdings in Marathon Petroleum were worth $1,472,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Marathon Petroleum in the 2nd quarter valued at about $200,000. Versor Investments LP acquired a new position in Marathon Petroleum in the 2nd quarter valued at about $633,000. swisspartners Advisors Ltd grew its holdings in shares of Marathon Petroleum by 9.4% in the second quarter. swisspartners Advisors Ltd now owns 26,250 shares of the oil and gas company’s stock valued at $4,355,000 after purchasing an additional 2,245 shares in the last quarter. Lifeworks Advisors LLC grew its holdings in shares of Marathon Petroleum by 7.6% in the second quarter. Lifeworks Advisors LLC now owns 1,914 shares of the oil and gas company’s stock valued at $318,000 after purchasing an additional 135 shares in the last quarter. Finally, Center for Financial Planning Inc. grew its holdings in shares of Marathon Petroleum by 3.4% in the second quarter. Center for Financial Planning Inc. now owns 4,114 shares of the oil and gas company’s stock valued at $683,000 after purchasing an additional 135 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $195.01 on Monday. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $201.61. The firm has a market capitalization of $59.29 billion, a PE ratio of 28.93, a price-to-earnings-growth ratio of 4.08 and a beta of 0.90. 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 business’s fifty day moving average price is $186.45 and its 200 day moving average price is $170.28.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating 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 the consensus estimate of $31.70 billion. During the same quarter in the prior year, the business posted $4.12 EPS. The business’s revenue for the quarter was down 11.1% on a year-over-year basis. On average, sell-side analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th will be paid a $1.00 dividend. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. This represents a $4.00 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, November 19th. Marathon Petroleum’s payout ratio is currently 54.01%.

Analyst Ratings Changes

Several research firms have commented on MPC. Wolfe Research downgraded shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 14th. BMO Capital Markets boosted their target price on Marathon Petroleum from $195.00 to $208.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Evercore ISI boosted their target price on Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a research note on Friday, September 19th. Wells Fargo & Company started coverage on Marathon Petroleum in a research note on Friday, October 17th. They set an “overweight” rating and a $214.00 target price for the company. Finally, Mizuho boosted their price objective on Marathon Petroleum from $184.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.31.

Insider Buying and Selling

In related news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction 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 transaction, the insider directly owned 28,700 shares of the company’s stock, valued at $4,678,100. This trade represents a 27.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.25% of the stock is owned by corporate insiders.

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.