Csenge Advisory Group cut its stake in shares of Marathon Petroleum Corporation (NYSE:MPC – Free Report) by 21.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,220 shares of the oil and gas company’s stock after selling 4,604 shares during the period. Csenge Advisory Group’s holdings in Marathon Petroleum were worth $6,809,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. D Orazio & Associates Inc. grew its holdings in Marathon Petroleum by 1.5% in the 3rd quarter. D Orazio & Associates Inc. now owns 1,795 shares of the oil and gas company’s stock valued at $710,000 after buying an additional 26 shares in the last quarter. Gen Wealth Partners Inc increased its position in Marathon Petroleum by 53.4% during the 3rd quarter. Gen Wealth Partners Inc now owns 1,166 shares of the oil and gas company’s stock worth $461,000 after buying an additional 406 shares during the period. 71 West Capital Partners lifted its holdings in shares of Marathon Petroleum by 1.1% during the third quarter. 71 West Capital Partners now owns 4,528 shares of the oil and gas company’s stock worth $1,790,000 after buying an additional 51 shares in the last quarter. Flynn Zito Capital Management LLC acquired a new stake in shares of Marathon Petroleum during the third quarter worth $228,000. Finally, Texas Bank & Trust Co bought a new stake in shares of Marathon Petroleum in the third quarter valued at about $380,000. Institutional investors own 76.77% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts recently commented on the stock. Zacks Research upgraded shares of Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 4th. Piper Sandler lifted their price objective on shares of Marathon Petroleum from $462.00 to $466.00 and gave the stock an “overweight” rating in a research note on Thursday, November 5th. Bank of America lifted their price objective on shares of Marathon Petroleum from $410.00 to $426.00 and gave the stock a “neutral” rating in a research note on Friday, October 2nd. The Goldman Sachs Group boosted their price objective on shares of Marathon Petroleum from $376.00 to $472.00 and gave the company a “buy” rating in a report on Monday, September 21st. Finally, Jefferies Financial Group restated a “hold” rating and set a $433.00 target price on shares of Marathon Petroleum in a research report on Sunday, October 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum has an average rating of “Moderate Buy” and an average target price of $425.12.
Get Our Latest Stock Analysis on MPC
Insider Activity
In related news, SVP Shawn M. Lyon sold 2,500 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total transaction of $875,000.00. Following the sale, the senior vice president owned 12,619 shares in the company, valued at approximately $4,416,650. This trade represents a 16.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Erin M. Brzezinski sold 570 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, August 27th. The shares were 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 directly owned 1,576 shares in the company, valued at $571,757.04. This trade represents a 26.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 21,691 shares of company stock worth $7,780,127. 0.17% of the stock is currently owned by corporate insiders.
Marathon Petroleum Stock Up 0.0%
Shares of NYSE MPC opened at $389.90 on Wednesday. The stock has a market capitalization of $106.16 billion, a P/E ratio of 13.40, a PEG ratio of 0.10 and a beta of 0.53. The stock’s fifty day moving average is $422.42 and its 200 day moving average is $297.48. Marathon Petroleum Corporation has a 52 week low of $161.93 and a 52 week high of $493.98. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.09 and a current ratio of 1.45.
Marathon Petroleum (NYSE:MPC – Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The oil and gas company reported $26.93 earnings per share for the quarter, topping the consensus estimate of $25.37 by $1.56. The business had revenue of $56.03 billion during the quarter, compared to analysts’ expectations of $46.60 billion. Marathon Petroleum had a net margin of 8.27% and a return on equity of 55.82%. Marathon Petroleum’s revenue was up 57.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.01 earnings per share. Sell-side analysts forecast that Marathon Petroleum Corporation will post 66.31 earnings per share for the current fiscal year.
Marathon Petroleum Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be given a $1.00 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $4.00 annualized dividend and a dividend yield of 1.0%. Marathon Petroleum’s payout ratio is presently 13.75%.
Marathon Petroleum Company 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.
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