Islay Capital Management LLC Sells 2,636 Shares of Marathon Petroleum Corporation $MPC

Islay Capital Management LLC lessened its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 57.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,969 shares of the oil and gas company’s stock after selling 2,636 shares during the quarter. Islay Capital Management LLC’s holdings in Marathon Petroleum were worth $779,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. purchased a new position in Marathon Petroleum in the 2nd quarter worth approximately $6,648,958,000. Bank of New York Mellon Corp bought a new position in Marathon Petroleum during the second quarter valued at approximately $1,029,611,000. Bank of America Corp DE purchased a new stake in shares of Marathon Petroleum in the 2nd quarter valued at $621,832,000. Legal & General Group Plc bought a new position in shares of Marathon Petroleum during the 2nd quarter valued at $380,745,000. Finally, Deutsche Bank AG bought a new stake in Marathon Petroleum in the second quarter worth $280,761,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Morgan Stanley raised their price target on Marathon Petroleum from $265.00 to $453.00 and gave the stock an “overweight” rating in a research report on Monday, September 14th. Weiss Ratings raised shares of Marathon Petroleum from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Piper Sandler boosted their target price on Marathon Petroleum from $344.00 to $462.00 and gave the company an “overweight” rating in a research note on Thursday, September 3rd. TD Cowen upped their price objective on shares of Marathon Petroleum from $357.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Raymond James Financial boosted their price target on shares of Marathon Petroleum from $350.00 to $445.00 and gave the company an “outperform” rating in a research report on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $417.88.

Marathon Petroleum Stock Down 0.4%

Shares of Marathon Petroleum stock traded down $1.80 on Tuesday, reaching $471.89. The company’s stock had a trading volume of 1,010,574 shares, compared to its average volume of 2,468,446. 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 company has a market capitalization of $137.76 billion, a price-to-earnings ratio of 16.25, a P/E/G ratio of 0.14 and a beta of 0.54. The firm’s fifty day simple moving average is $400.75 and its two-hundred day simple moving average is $311.01. Marathon Petroleum Corporation has a 52 week low of $161.93 and a 52 week high of $493.98.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data 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. The firm had revenue of $51.99 billion during the quarter, compared to analysts’ expectations of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The firm’s quarterly revenue was up 53.5% on a year-over-year basis. During the same period in the previous year, the company earned $3.96 earnings per share. Equities analysts anticipate that Marathon Petroleum Corporation will post 62.78 earnings per share for the current year.

Marathon Petroleum Announces Dividend

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

Insider Transactions at Marathon Petroleum

In other news, SVP Shawn M. Lyon sold 2,500 shares of the firm’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 $4,416,650. This trade represents a 16.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Erin M. Brzezinski sold 570 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president directly owned 1,576 shares of the company’s stock, valued at $571,757.04. This represents a 26.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 21,691 shares of company stock valued at $7,780,127 over the last quarter. 0.17% of the stock is currently owned by company insiders.

Marathon Petroleum 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.