Marathon Petroleum Corporation $MPC Stock Holdings Reduced by Joseph Group Capital Management

Joseph Group Capital Management trimmed its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 31.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 14,395 shares of the oil and gas company’s stock after selling 6,604 shares during the period. Joseph Group Capital Management’s holdings in Marathon Petroleum were worth $5,692,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Marathon Petroleum in the 2nd quarter valued at $6,648,958,000. Bank of New York Mellon Corp acquired a new stake in shares of Marathon Petroleum during the 2nd quarter worth about $1,029,611,000. Bank of America Corp DE increased its position in shares of Marathon Petroleum by 1.6% during the 1st quarter. Bank of America Corp DE now owns 2,595,084 shares of the oil and gas company’s stock worth $633,668,000 after purchasing an additional 40,124 shares during the last quarter. Amundi increased its position in shares of Marathon Petroleum by 17.5% during the 2nd quarter. Amundi now owns 2,237,930 shares of the oil and gas company’s stock worth $572,172,000 after purchasing an additional 332,551 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Marathon Petroleum by 16.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,508,489 shares of the oil and gas company’s stock valued at $385,675,000 after buying an additional 215,686 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Activity

In related news, SVP Shawn M. Lyon sold 2,500 shares of the company’s stock in a transaction that occurred 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 approximately $4,416,650. This represents a 16.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Erin M. Brzezinski sold 570 shares of the firm’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 sale, the vice president directly owned 1,576 shares in the company, valued at approximately $571,757.04. This trade represents a 26.56% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 21,691 shares of company stock worth $7,780,127. 0.17% of the stock is currently owned by company insiders.

Marathon Petroleum Stock Up 4.6%

Marathon Petroleum stock opened at $389.91 on Tuesday. The firm has a market capitalization of $106.16 billion, a P/E ratio of 13.40, a P/E/G ratio of 0.10 and a beta of 0.53. The company has a current ratio of 1.45, a quick ratio of 0.89 and a debt-to-equity ratio of 1.10. Marathon Petroleum Corporation has a twelve month low of $161.93 and a twelve month high of $493.98. The stock’s fifty day simple moving average is $422.11 and its 200-day simple moving average is $296.41.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, November 3rd. The oil and gas company reported $26.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $25.37 by $1.56. Marathon Petroleum had a return on equity of 55.82% and a net margin of 8.27%. The firm had revenue of $56.03 billion during the quarter, compared to analyst estimates of $46.60 billion. During the same period last year, the business posted $3.01 earnings per share. Marathon Petroleum’s revenue was up 57.6% compared to the same quarter last year. As a group, equities analysts expect that Marathon Petroleum Corporation will post 66.31 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be given a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $4.00 dividend on an annualized basis and a yield of 1.0%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 13.75%.

Analyst Upgrades and Downgrades

MPC has been the topic of a number of recent analyst reports. Mizuho upped their target price on shares of Marathon Petroleum from $304.00 to $457.00 and gave the company a “neutral” rating in a research report on Thursday, October 8th. 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 report on Monday, September 14th. Bank of America lifted their price target on shares of Marathon Petroleum from $410.00 to $426.00 and gave the company a “neutral” rating in a research report on Friday, October 2nd. Zacks Research raised shares of Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 4th. Finally, The Goldman Sachs Group upped their price objective on shares of Marathon Petroleum from $376.00 to $472.00 and gave the stock a “buy” rating in a report on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $425.12.

Marathon Petroleum Company Profile

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.

Marathon Petroleum was established as an independent company in 2011, when it was spun off from Marathon Oil Corporation.