Marathon Petroleum Corporation $MPC Shares Sold by Cherokee Insurance Co

Cherokee Insurance Co lowered its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 36.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,258 shares of the oil and gas company’s stock after selling 7,500 shares during the period. Marathon Petroleum accounts for 1.9% of Cherokee Insurance Co’s investment portfolio, making the stock its 17th largest position. Cherokee Insurance Co’s holdings in Marathon Petroleum were worth $5,242,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. First Command Advisory Services Inc. raised its holdings in Marathon Petroleum by 320.2% in the 3rd quarter. First Command Advisory Services Inc. now owns 1,080 shares of the oil and gas company’s stock valued at $427,000 after buying an additional 823 shares during the period. Machina Capital S.A.S. purchased a new position in Marathon Petroleum in the third quarter valued at $2,637,000. Illinois Municipal Retirement Fund raised its position in Marathon Petroleum by 4.9% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 67,579 shares of the oil and gas company’s stock valued at $26,722,000 after purchasing an additional 3,152 shares in the last quarter. Knights of Columbus Asset Advisors LLC acquired a new stake in Marathon Petroleum in the 3rd quarter valued at about $1,830,000. Finally, AMG National Trust Bank raised its position in Marathon Petroleum by 0.5% in the 3rd quarter. AMG National Trust Bank now owns 15,660 shares of the oil and gas company’s stock valued at $6,192,000 after purchasing an additional 76 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MPC shares. Weiss Ratings raised Marathon Petroleum from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Wells Fargo & Company lifted their price target on shares of Marathon Petroleum from $560.00 to $564.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 4th. Jefferies Financial Group reiterated a “hold” rating and set a $433.00 price target on shares of Marathon Petroleum in a report on Sunday, October 11th. Barclays boosted their price target on shares of Marathon Petroleum from $321.00 to $488.00 and gave the stock an “overweight” rating in a report on Monday, October 12th. Finally, Zacks Research raised shares of Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $425.12.

Insider Buying and Selling

In other Marathon Petroleum news, VP Erin M. Brzezinski sold 570 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total transaction of $206,790.30. Following the transaction, the vice president owned 1,576 shares of the company’s stock, valued at $571,757.04. The trade was a 26.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Shawn Lyon sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $375.75, for a total value of $375,750.00. Following the completion of the sale, the senior vice president owned 11,194 shares of the company’s stock, valued at approximately $4,206,145.50. This represents a 8.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 19,191 shares of company stock worth $6,905,127 in the last quarter. 0.17% of the stock is owned by insiders.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $402.73 on Thursday. The company has a quick ratio of 1.09, 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. The firm’s 50 day moving average is $422.83 and its two-hundred day moving average is $298.62. The firm has a market capitalization of $109.65 billion, a P/E ratio of 7.73, a P/E/G ratio of 0.10 and a beta of 0.53.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, November 3rd. The oil and gas company reported $26.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $25.37 by $1.56. Marathon Petroleum had a net margin of 8.27% and a return on equity of 55.82%. The business had revenue of $56.03 billion during the quarter, compared to analysts’ expectations of $46.60 billion. During the same quarter in the prior year, the business posted $3.01 EPS. The company’s revenue for the quarter was up 57.6% on a year-over-year basis. Research analysts forecast that Marathon Petroleum Corporation will post 66.31 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, November 18th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 13.75%.

Marathon Petroleum 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.