13,840 Marathon Petroleum Corporation $MPC Shares Sold by Sitrin Capital Management LLC

Sitrin Capital Management LLC lowered its position in Marathon Petroleum Corporation (NYSE:MPC) by 37.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 22,865 shares of the oil and gas company’s stock after selling 13,840 shares during the period. Marathon Petroleum comprises approximately 4.1% of Sitrin Capital Management LLC’s holdings, making the stock its 2nd largest position. Sitrin Capital Management LLC’s holdings in Marathon Petroleum were worth $9,041,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of MPC. Maia Wealth LLC purchased a new stake in shares of Marathon Petroleum during the third quarter worth about $239,000. Tanager Wealth Management LLP bought a new stake in Marathon Petroleum during the 3rd quarter valued at approximately $220,000. Fairvoy Private Wealth LLC lifted its holdings in Marathon Petroleum by 330.0% in the 3rd quarter. Fairvoy Private Wealth LLC now owns 4,300 shares of the oil and gas company’s stock worth $1,700,000 after purchasing an additional 3,300 shares in the last quarter. AA Financial Advisors LLC purchased a new position in Marathon Petroleum in the 3rd quarter worth approximately $210,000. Finally, Gimbal Financial bought a new position in Marathon Petroleum in the 3rd quarter worth approximately $249,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Activity

In related news, 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 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. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Shawn M. Lyon sold 2,500 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total transaction of $875,000.00. Following the sale, the senior vice president directly owned 12,619 shares in the company, valued at approximately $4,416,650. The trade was a 16.54% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 21,691 shares of company stock worth $7,780,127. 0.17% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MPC. Wells Fargo & Company increased their price objective on shares of Marathon Petroleum from $400.00 to $560.00 and gave the company an “overweight” rating in a report on Wednesday, October 14th. Citigroup boosted their target price on shares of Marathon Petroleum from $318.00 to $518.00 and gave the stock a “neutral” rating in a report on Tuesday, October 13th. Bank of America boosted their target price on shares of Marathon Petroleum from $410.00 to $426.00 and gave the stock a “neutral” rating in a report on Friday, October 2nd. UBS Group set a $510.00 target price on shares of Marathon Petroleum in a research report on Friday, October 9th. Finally, Mizuho raised their target price on shares of Marathon Petroleum from $304.00 to $457.00 and gave the company a “neutral” rating in a research note on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $417.88.

Marathon Petroleum Price Performance

NYSE:MPC opened at $474.23 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $138.45 billion, a P/E ratio of 18.07, a P/E/G ratio of 0.14 and a beta of 0.54. Marathon Petroleum Corporation has a 12 month low of $161.93 and a 12 month high of $493.98. The business’s 50-day moving average is $400.75 and its 200 day moving average is $311.01.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, beating analysts’ consensus estimates of $14.27 by $3.46. The company had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%. The firm’s revenue was up 53.5% on a year-over-year basis. During the same period in the prior year, the company earned $3.96 earnings per share. On average, equities research analysts forecast that Marathon Petroleum Corporation will post 62.78 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

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

Marathon Petroleum Company Profile

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.