Marathon Petroleum Corporation $MPC Shares Sold by Joseph Group Capital Management

Joseph Group Capital Management cut its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 31.4% during the third quarter, Holdings Channel reports. The institutional investor owned 14,395 shares of the oil and gas company’s stock after selling 6,604 shares during the period. Joseph Group Capital Management’s holdings in Marathon Petroleum were worth $5,692,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Marathon Petroleum during the 2nd quarter worth about $6,648,958,000. Bank of New York Mellon Corp purchased a new position in shares of Marathon Petroleum in the 2nd quarter valued at about $1,029,611,000. Bank of America Corp DE acquired a new stake in shares of Marathon Petroleum during the 2nd quarter worth about $621,832,000. Legal & General Group Plc acquired a new stake in shares of Marathon Petroleum during the 2nd quarter worth about $380,745,000. Finally, Deutsche Bank AG acquired a new stake in shares of Marathon Petroleum during the 2nd quarter worth about $280,761,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Erin M. Brzezinski sold 570 shares of Marathon Petroleum stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $362.79, for a total value of $206,790.30. Following the transaction, the vice president directly owned 1,576 shares of the company’s stock, valued at $571,757.04. The trade was a 26.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Molly Benson sold 17,196 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the completion of the sale, the insider owned 30,334 shares of the company’s stock, valued at approximately $10,876,862.38. This trade represents a 36.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 21,691 shares of company stock valued at $7,780,127 in the last ninety days. 0.17% of the stock is currently owned by company insiders.

Marathon Petroleum Trading Up 4.6%

NYSE:MPC opened at $389.91 on Tuesday. The stock’s 50 day moving average price is $422.11 and its 200 day moving average price is $296.41. The company has a market capitalization of $106.16 billion, a PE ratio of 13.40, a P/E/G ratio of 0.10 and a beta of 0.53. The company has a quick ratio of 0.89, a current ratio of 1.45 and a debt-to-equity ratio of 1.10. Marathon Petroleum Corporation has a 52-week low of $161.93 and a 52-week high of $493.98.

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

Marathon Petroleum Announces Dividend

The firm 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 dividend of $1.00 per share. The ex-dividend date is Wednesday, November 18th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.0%. Marathon Petroleum’s dividend payout ratio (DPR) is 13.75%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Citigroup boosted their target price on Marathon Petroleum from $318.00 to $518.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 13th. The Goldman Sachs Group increased their price target on shares of Marathon Petroleum from $376.00 to $472.00 and gave the company a “buy” rating in a research note on Monday, September 21st. Mizuho raised their price objective on shares of Marathon Petroleum from $304.00 to $457.00 and gave the stock a “neutral” rating in a report on Thursday, October 8th. Wells Fargo & Company boosted their price objective on shares of Marathon Petroleum from $560.00 to $564.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 4th. Finally, TD Cowen boosted their price objective on shares of Marathon Petroleum from $450.00 to $478.00 and gave the stock a “buy” rating in a research report on Thursday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average target price of $425.12.

About Marathon Petroleum

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.

Marathon Petroleum was established as an independent company in 2011, when it was spun off from Marathon Oil Corporation.