16,959 Marathon Petroleum Corporation $MPC Shares Sold by Turn8 Private Wealth Inc.

Turn8 Private Wealth Inc. cut its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 91.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,515 shares of the oil and gas company’s stock after selling 16,959 shares during the quarter. Turn8 Private Wealth Inc.’s holdings in Marathon Petroleum were worth $599,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MPC. Focus Financial Network Inc. lifted its stake in Marathon Petroleum by 2.0% in the 3rd quarter. Focus Financial Network Inc. now owns 1,066 shares of the oil and gas company’s stock valued at $422,000 after buying an additional 21 shares in the last quarter. CRA Financial Services LLC increased its position in Marathon Petroleum by 1.2% during the third quarter. CRA Financial Services LLC now owns 1,844 shares of the oil and gas company’s stock worth $729,000 after buying an additional 21 shares in the last quarter. Avior Wealth Management LLC increased its position in Marathon Petroleum by 1.0% during the third quarter. Avior Wealth Management LLC now owns 2,130 shares of the oil and gas company’s stock worth $842,000 after buying an additional 22 shares in the last quarter. Physician Wealth Advisors Inc. increased its position in Marathon Petroleum by 7.8% during the third quarter. Physician Wealth Advisors Inc. now owns 316 shares of the oil and gas company’s stock worth $125,000 after buying an additional 23 shares in the last quarter. Finally, Global Assets Advisory LLC raised its holdings in shares of Marathon Petroleum by 1.6% in the third quarter. Global Assets Advisory LLC now owns 1,442 shares of the oil and gas company’s stock worth $630,000 after acquiring an additional 23 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, insider Molly R. Benson sold 17,196 shares of the firm’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 sale, the insider directly owned 30,334 shares of the company’s stock, valued at approximately $10,876,862.38. This trade represents a 36.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Erin M. Brzezinski sold 570 shares of Marathon Petroleum stock in a transaction dated 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 of the company’s stock, valued at $571,757.04. This trade represents a 26.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 21,691 shares of company stock worth $7,780,127. 0.17% of the stock is currently owned by insiders.

Marathon Petroleum Stock Up 0.0%

MPC stock opened at $389.90 on Wednesday. The company 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 debt-to-equity ratio of 1.10, a quick ratio of 1.09 and a current ratio of 1.45. The stock has a market capitalization of $106.16 billion, a P/E ratio of 13.40, a PEG ratio of 0.10 and a beta of 0.53. Marathon Petroleum Corporation has a one year low of $161.93 and a one year high of $493.98.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, November 3rd. The oil and gas company reported $26.93 earnings per share for the quarter, topping 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 company had revenue of $56.03 billion for the quarter, compared to analyst estimates of $46.60 billion. During the same quarter in the prior year, the company posted $3.01 EPS. The business’s revenue for the quarter was up 57.6% compared to the same quarter last year. As a group, sell-side analysts expect that Marathon Petroleum Corporation will post 66.31 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders 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 dividend yield of 1.0%. Marathon Petroleum’s payout ratio is currently 13.75%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MPC. Bank of America upped their price objective on Marathon Petroleum from $410.00 to $426.00 and gave the company a “neutral” rating in a research report on Friday, October 2nd. Jefferies Financial Group reiterated a “hold” rating and set a $433.00 price objective on shares of Marathon Petroleum in a research report on Sunday, October 11th. The Goldman Sachs Group boosted their target price on shares of Marathon Petroleum from $376.00 to $472.00 and gave the company a “buy” rating in a research note on Monday, September 21st. UBS Group set a $510.00 target price on shares of Marathon Petroleum in a report on Friday, October 9th. Finally, Wells Fargo & Company raised their price target on shares of Marathon Petroleum from $560.00 to $564.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.