Marathon Petroleum Corporation $MPC Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC cut its stake in Marathon Petroleum Corporation (NYSE:MPC) by 0.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 66,242 shares of the oil and gas company’s stock after selling 618 shares during the quarter. ProShare Advisors LLC’s holdings in Marathon Petroleum were worth $11,003,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of MPC. Jump Financial LLC raised its position in shares of Marathon Petroleum by 128.0% during the 1st quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company’s stock worth $1,262,000 after purchasing an additional 4,863 shares during the last quarter. Journey Strategic Wealth LLC boosted its stake in shares of Marathon Petroleum by 105.0% during the first quarter. Journey Strategic Wealth LLC now owns 8,582 shares of the oil and gas company’s stock valued at $1,250,000 after acquiring an additional 4,396 shares during the last quarter. FSM Wealth Advisors LLC acquired a new position in Marathon Petroleum in the 2nd quarter valued at about $685,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Marathon Petroleum by 12.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 578,641 shares of the oil and gas company’s stock valued at $84,302,000 after purchasing an additional 64,849 shares in the last quarter. Finally, United Capital Management of KS Inc. grew its holdings in shares of Marathon Petroleum by 6.3% during the first quarter. United Capital Management of KS Inc. now owns 44,117 shares of the oil and gas company’s stock worth $6,427,000 after buying an additional 2,627 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Buying and Selling

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the transaction, the insider directly owned 28,700 shares of the company’s stock, valued at $4,678,100. This represents a 27.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.21% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MPC has been the topic of a number of analyst reports. Dbs Bank upgraded shares of Marathon Petroleum to a “moderate buy” rating in a research report on Monday, July 28th. Wells Fargo & Company reduced their target price on Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Raymond James Financial set a $200.00 price objective on shares of Marathon Petroleum in a research note on Tuesday, November 4th. Barclays boosted their target price on shares of Marathon Petroleum from $176.00 to $194.00 and gave the company an “overweight” rating in a report on Monday, October 13th. Finally, Evercore ISI lifted their price target on shares of Marathon Petroleum from $170.00 to $210.00 and gave the company an “in-line” rating in a report on Friday, September 19th. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $200.00.

Marathon Petroleum Trading Down 1.8%

NYSE:MPC opened at $196.60 on Thursday. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $202.25. The business’s 50-day moving average is $188.94 and its two-hundred day moving average is $173.44. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79. The firm has a market capitalization of $59.10 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 3.88 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.01. The company had revenue of $34.81 billion during the quarter, compared to the consensus estimate of $31.06 billion. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. Research analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th will be paid a dividend of $1.00 per share. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $4.00 annualized dividend and a yield of 2.0%. Marathon Petroleum’s payout ratio is presently 38.81%.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.