Insider Selling: Marathon Petroleum (NYSE:MPC) SVP Sells 2,500 Shares

Marathon Petroleum Corporation (NYSE:MPC) SVP Shawn Lyon sold 2,500 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total value of $875,000.00. Following the transaction, the senior vice president directly owned 12,619 shares in the company, valued at $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 can be accessed through the SEC website.

Marathon Petroleum Trading Up 1.2%

NYSE:MPC traded up $4.36 during trading hours on Monday, hitting $359.78. The company had a trading volume of 3,041,982 shares, compared to its average volume of 2,450,992. Marathon Petroleum Corporation has a 1 year low of $160.87 and a 1 year high of $363.34. The company has a market cap of $105.03 billion, a P/E ratio of 12.37, a P/E/G ratio of 0.23 and a beta of 0.52. The company has a 50-day moving average of $287.31 and a 200 day moving average of $248.19. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The firm had revenue of $51.99 billion for the quarter, compared to analysts’ expectations of $40.87 billion. During the same quarter in the previous year, the company posted $3.96 EPS. The company’s revenue was up 53.5% compared to the same quarter last year. Sell-side analysts expect that Marathon Petroleum Corporation will post 46.66 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum’s payout ratio is presently 13.75%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MPC. The Goldman Sachs Group raised their price target on shares of Marathon Petroleum from $291.00 to $376.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Weiss Ratings upgraded Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. TD Cowen lifted their target price on Marathon Petroleum from $357.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Citigroup upped their price target on Marathon Petroleum from $303.00 to $318.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Finally, Piper Sandler increased their price target on Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average price target of $312.50.

Institutional Trading of Marathon Petroleum

Several institutional investors have recently added to or reduced their stakes in MPC. Brighton Jones LLC grew its stake in shares of Marathon Petroleum by 30.9% in the fourth quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock valued at $696,000 after buying an additional 1,178 shares in the last quarter. Woodline Partners LP boosted its holdings in Marathon Petroleum by 38.3% during the 1st quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company’s stock valued at $3,889,000 after acquiring an additional 7,396 shares during the period. Sivia Capital Partners LLC boosted its holdings in Marathon Petroleum by 26.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,221 shares of the oil and gas company’s stock valued at $369,000 after acquiring an additional 466 shares during the period. Marshall Wace LLP acquired a new position in Marathon Petroleum in the 2nd quarter valued at about $8,505,000. Finally, AXA S.A. increased its stake in Marathon Petroleum by 46.7% during the second quarter. AXA S.A. now owns 39,675 shares of the oil and gas company’s stock worth $6,590,000 after purchasing an additional 12,639 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.