11,433 Shares in Marathon Petroleum Corporation $MPC Bought by Parkway Wealth Management Group LLC

Parkway Wealth Management Group LLC bought a new position in Marathon Petroleum Corporation (NYSE:MPC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,433 shares of the oil and gas company’s stock, valued at approximately $4,521,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Energy Income Partners LLC acquired a new position in Marathon Petroleum during the 2nd quarter valued at about $4,912,000. Vontobel Holding Ltd. increased its holdings in Marathon Petroleum by 23.2% during the 3rd quarter. Vontobel Holding Ltd. now owns 14,025 shares of the oil and gas company’s stock worth $5,546,000 after purchasing an additional 2,637 shares in the last quarter. Evolve Private Wealth LLC purchased a new stake in shares of Marathon Petroleum in the second quarter worth approximately $673,000. Railway Pension Investments Ltd purchased a new stake in shares of Marathon Petroleum in the second quarter worth approximately $3,886,000. Finally, Sax Wealth Advisors LLC lifted its holdings in shares of Marathon Petroleum by 471.0% in the third quarter. Sax Wealth Advisors LLC now owns 18,705 shares of the oil and gas company’s stock valued at $7,396,000 after purchasing an additional 15,429 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, SVP Shawn M. Lyon sold 2,500 shares of the firm’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 completion of the sale, the senior vice president directly owned 12,619 shares of the company’s stock, valued at $4,416,650. This trade represents a 16.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Molly R. Benson sold 17,196 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $358.57, for a total value of $6,165,969.72. Following the completion of the sale, the insider owned 30,334 shares in the company, valued at approximately $10,876,862.38. The trade was a 36.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 21,691 shares of company stock worth $7,780,127. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. UBS Group set a $510.00 target price on Marathon Petroleum in a research report on Friday, October 9th. Weiss Ratings upgraded Marathon Petroleum from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Citigroup increased their price target on Marathon Petroleum from $318.00 to $518.00 and gave the company a “neutral” rating in a research report on Tuesday, October 13th. Evercore set a $330.00 price target on Marathon Petroleum in a research report on Wednesday, August 5th. Finally, Mizuho raised their price objective on Marathon Petroleum from $304.00 to $457.00 and gave the company a “neutral” rating in a research note on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $417.88.

Marathon Petroleum Stock Down 0.8%

MPC opened at $474.23 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. The stock has a market cap of $138.45 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 0.14 and a beta of 0.54. Marathon Petroleum Corporation has a twelve month low of $161.93 and a twelve month high of $493.98. The company’s 50-day moving average price is $400.75 and its two-hundred day moving average price is $311.01.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping 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 company had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. During the same quarter last year, the business posted $3.96 EPS. Marathon Petroleum’s quarterly revenue was up 53.5% compared to the same quarter last year. As a group, equities analysts expect that Marathon Petroleum Corporation will post 62.78 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were paid a $1.00 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $4.00 annualized dividend and a yield of 0.8%. Marathon Petroleum’s dividend payout ratio is presently 13.75%.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE:MPC) is an American downstream energy company engaged in refining, marketing, and transporting petroleum products. Its operations include converting crude oil into gasoline, diesel, jet fuel, asphalt, propane, and other refined products used by transportation, industrial, and commercial customers.

The company markets fuel under the Marathon brand and supplies products to independent marketers, commercial businesses, and other wholesale customers. Marathon Petroleum also owns a general-partner interest and significant limited-partner interest in MPLX Inc, a midstream company that operates pipelines, storage facilities, terminals, and gathering and processing assets supporting the movement of crude oil and natural gas liquids.

Marathon Petroleum’s refining and midstream activities are concentrated in the United States, with assets serving regions across the Midwest, Gulf Coast, and West Coast.