Marathon Petroleum Corporation $MPC Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC reduced its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 7.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 101,802 shares of the oil and gas company’s stock after selling 7,623 shares during the period. Douglas Lane & Associates LLC’s holdings in Marathon Petroleum were worth $40,255,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Marathon Petroleum during the second quarter worth approximately $6,648,958,000. Bank of New York Mellon Corp acquired a new position in Marathon Petroleum in the 2nd quarter valued at $1,029,611,000. Bank of America Corp DE purchased a new position in shares of Marathon Petroleum during the 2nd quarter worth $621,832,000. Capital Wealth Planning LLC lifted its stake in shares of Marathon Petroleum by 49,392.0% during the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock worth $245,157,000 after purchasing an additional 1,495,097 shares during the period. Finally, Legal & General Group Plc acquired a new stake in shares of Marathon Petroleum during the second quarter worth $380,745,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Marathon Petroleum

In related news, VP Erin M. Brzezinski sold 570 shares of the business’s 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 directly owned 1,576 shares of the company’s stock, valued at approximately $571,757.04. The trade was a 26.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Shawn Lyon sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $375.75, for a total value of $375,750.00. Following the completion of the transaction, 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. In the last ninety days, insiders have sold 21,691 shares of company stock worth $7,780,127. 0.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Mizuho upped their target price on Marathon Petroleum from $304.00 to $457.00 and gave the company a “neutral” rating in a research note on Thursday. Raymond James Financial raised their price target on Marathon Petroleum from $350.00 to $445.00 and gave the stock an “outperform” rating in a research note on Monday, September 14th. Bank of America upped their price objective on shares of Marathon Petroleum from $410.00 to $426.00 and gave the company a “neutral” rating in a research note on Friday, October 2nd. Barclays increased their price objective on shares of Marathon Petroleum from $289.00 to $321.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Finally, Evercore set a $330.00 target price on shares of Marathon Petroleum in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus price target of $383.69.

Marathon Petroleum Stock Down 0.2%

Shares of NYSE:MPC traded down $1.10 during midday trading on Friday, hitting $462.24. 789,302 shares of the company’s stock traded hands, compared to its average volume of 2,491,462. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25. The company has a market cap of $134.95 billion, a PE ratio of 15.91, a P/E/G ratio of 0.14 and a beta of 0.54. The firm’s fifty day moving average price is $377.66 and its two-hundred day moving average price is $299.77. Marathon Petroleum Corporation has a twelve month low of $161.93 and a twelve month high of $470.00.

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, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $40.87 billion. During the same period in the prior year, the company earned $3.96 EPS. The firm’s revenue was up 53.5% on a year-over-year basis. On average, equities research analysts anticipate that Marathon Petroleum Corporation will post 61.31 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.9%. Marathon Petroleum’s dividend payout ratio (DPR) is 13.75%.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE:MPC) is an integrated downstream energy company engaged primarily in refining, marketing and transporting petroleum products. The company converts crude oil and other feedstocks into gasoline, diesel, jet fuel, asphalt, propane and other refined products used by consumers, businesses and industrial customers.

Marathon Petroleum operates refineries and related logistics assets in the United States, with a refining and marketing presence serving markets across the Midwest, Gulf Coast and West Coast.