Marathon Petroleum Corporation $MPC Stock Sold by Venture Visionary Partners LLC

Venture Visionary Partners LLC decreased its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 9.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 28,489 shares of the oil and gas company’s stock after selling 2,969 shares during the period. Venture Visionary Partners LLC’s holdings in Marathon Petroleum were worth $11,266,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In related news, insider Molly Benson sold 17,196 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $358.57, for a total value of $6,165,969.72. Following the completion of the sale, the insider directly owned 30,334 shares of the company’s stock, valued at $10,876,862.38. The trade was a 36.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Erin M. Brzezinski sold 570 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total value of $206,790.30. Following the transaction, 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 SEC filing for this sale provides additional information. Over the last three months, insiders sold 21,691 shares of company stock worth $7,780,127. Corporate insiders own 0.17% of the company’s stock.

Marathon Petroleum Stock Up 2.2%

NYSE MPC traded up $9.52 on Wednesday, reaching $441.88. The company had a trading volume of 1,923,747 shares, compared to its average volume of 2,499,254. The firm has a market capitalization of $129.00 billion, a PE ratio of 15.19, a P/E/G ratio of 0.13 and a beta of 0.54. The firm has a 50-day moving average of $374.68 and a 200-day moving average of $298.14. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. Marathon Petroleum Corporation has a 1 year low of $161.93 and a 1 year high of $444.99.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $40.87 billion. During the same quarter in the previous year, the firm posted $3.96 EPS. The firm’s quarterly 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 declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were given a dividend of $1.00 per share. The ex-dividend date of this dividend 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 presently 13.75%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MPC. Barclays increased their price target on Marathon Petroleum from $289.00 to $321.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Jefferies Financial Group reiterated a “hold” rating and set a $413.00 target price on shares of Marathon Petroleum in a research report on Monday, September 21st. UBS Group reissued a “buy” rating on shares of Marathon Petroleum in a research note on Thursday, October 1st. Evercore set a $330.00 price target on shares of Marathon Petroleum in a research note on Wednesday, August 5th. Finally, Wells Fargo & Company upped their target price on Marathon Petroleum from $359.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $370.38.

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.