Legacy Financial Advisors Inc. Has $1.09 Million Position in Marathon Petroleum Corporation $MPC

Legacy Financial Advisors Inc. cut its stake in Marathon Petroleum Corporation (NYSE:MPC) by 25.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,264 shares of the oil and gas company’s stock after selling 1,436 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Marathon Petroleum were worth $1,090,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MPC. Proficio Capital Partners LLC acquired a new position in Marathon Petroleum in the 2nd quarter valued at about $476,000. Rehmann Capital Advisory Group raised its holdings in Marathon Petroleum by 7.2% in the 2nd quarter. Rehmann Capital Advisory Group now owns 4,971 shares of the oil and gas company’s stock valued at $1,271,000 after acquiring an additional 333 shares during the period. Railway Pension Investments Ltd acquired a new stake in Marathon Petroleum during the second quarter worth approximately $3,886,000. Benjamin Edwards Inc. boosted its holdings in shares of Marathon Petroleum by 6.7% during the second quarter. Benjamin Edwards Inc. now owns 6,293 shares of the oil and gas company’s stock worth $1,609,000 after acquiring an additional 395 shares during the period. Finally, GTS Securities LLC boosted its holdings in shares of Marathon Petroleum by 25.0% during the second quarter. GTS Securities LLC now owns 1,129 shares of the oil and gas company’s stock worth $289,000 after acquiring an additional 226 shares during the period. Institutional investors own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Citigroup increased their target price on Marathon Petroleum from $303.00 to $318.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Evercore set a $330.00 price target on Marathon Petroleum in a research note on Wednesday, August 5th. JPMorgan Chase & Co. upped their price objective on Marathon Petroleum from $235.00 to $257.00 in a report on Wednesday, May 6th. Mizuho increased their price objective on Marathon Petroleum from $284.00 to $304.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Finally, The Goldman Sachs Group boosted their target price on shares of Marathon Petroleum from $291.00 to $376.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus target price of $312.50.

Marathon Petroleum Stock Up 1.5%

NYSE MPC opened at $374.48 on Tuesday. The company has a market cap of $109.33 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 0.24 and a beta of 0.52. Marathon Petroleum Corporation has a 1-year low of $161.93 and a 1-year high of $376.56. 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 50 day moving average of $311.41 and a 200-day moving average of $261.80.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, topping analysts’ consensus estimates of $14.27 by $3.46. The firm had revenue of $51.99 billion for 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 company’s revenue was up 53.5% on a year-over-year basis. During the same quarter last year, the company earned $3.96 EPS. On average, equities research analysts expect that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a $1.00 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. Marathon Petroleum’s payout ratio is presently 13.75%.

Insider Activity

In other Marathon Petroleum news, VP Erin M. Brzezinski sold 570 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were 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 in the company, valued at $571,757.04. The trade was a 26.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Shawn M. Lyon sold 2,500 shares of the company’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 sale, the senior vice president owned 12,619 shares of the company’s stock, valued at $4,416,650. The trade was a 16.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 26,602 shares of company stock valued at $8,951,004. 0.17% of the stock is owned by insiders.

Marathon Petroleum Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.