Marathon Petroleum Corporation $MPC Stock Position Cut by Philadelphia Trust Co.

Philadelphia Trust Co. decreased its position in Marathon Petroleum Corporation (NYSE:MPC) by 37.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,378 shares of the oil and gas company’s stock after selling 25,661 shares during the quarter. Marathon Petroleum accounts for approximately 1.1% of Philadelphia Trust Co.’s holdings, making the stock its 21st largest holding. Philadelphia Trust Co.’s holdings in Marathon Petroleum were worth $17,153,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Solstein Capital LLC bought a new position in shares of Marathon Petroleum during the second quarter worth about $26,000. Caitlin John LLC bought a new stake in Marathon Petroleum in the 2nd quarter valued at approximately $26,000. Bell Investment Advisors Inc bought a new stake in Marathon Petroleum in the 2nd quarter valued at approximately $27,000. Main Street Group LTD bought a new stake in Marathon Petroleum in the 1st quarter valued at approximately $35,000. Finally, Cetera Trust Company N.A acquired a new position in Marathon Petroleum during the 2nd quarter worth approximately $35,000. 76.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Marathon Petroleum news, VP Erin M. Brzezinski sold 570 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $362.79, for a total value of $206,790.30. Following the completion of the sale, the vice president owned 1,576 shares in the company, valued at $571,757.04. This trade represents a 26.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Molly Benson sold 17,196 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the completion of the sale, the insider owned 30,334 shares of the company’s stock, valued at approximately $10,876,862.38. This represents a 36.18% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 21,691 shares of company stock valued at $7,780,127. 0.17% of the stock is currently owned by corporate insiders.

Marathon Petroleum Stock Up 0.0%

MPC stock opened at $389.90 on Wednesday. The company has a market cap of $106.16 billion, a price-to-earnings ratio of 13.40, a P/E/G ratio of 0.10 and a beta of 0.53. Marathon Petroleum Corporation has a twelve month low of $161.93 and a twelve month high of $493.98. The business has a 50 day moving average price of $422.42 and a two-hundred day moving average price of $297.48. 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 (NYSE:MPC) last announced its quarterly earnings data on Tuesday, November 3rd. The oil and gas company reported $26.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $25.37 by $1.56. The company had revenue of $56.03 billion for the quarter, compared to analysts’ expectations of $46.60 billion. Marathon Petroleum had a return on equity of 55.82% and a net margin of 8.27%. The business’s revenue was up 57.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.01 EPS. Analysts anticipate that Marathon Petroleum Corporation will post 66.31 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be issued 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 payout ratio is presently 13.75%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MPC. Zacks Research raised shares of Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 4th. The Goldman Sachs Group boosted their price objective on shares of Marathon Petroleum from $376.00 to $472.00 and gave the stock a “buy” rating in a research report on Monday, September 21st. Citigroup increased 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. UBS Group set a $510.00 target price on shares of Marathon Petroleum in a research report on Friday, October 9th. Finally, Raymond James Financial lifted their price target on shares of Marathon Petroleum from $350.00 to $445.00 and gave the company an “outperform” rating in a research note on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus price target of $425.12.

About Marathon Petroleum

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.