Cherokee Insurance Co Sells 7,500 Shares of Marathon Petroleum Corporation $MPC

Cherokee Insurance Co lessened its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 36.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,258 shares of the oil and gas company’s stock after selling 7,500 shares during the period. Marathon Petroleum makes up about 1.9% of Cherokee Insurance Co’s portfolio, making the stock its 17th biggest holding. Cherokee Insurance Co’s holdings in Marathon Petroleum were worth $5,242,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MPC. First Command Advisory Services Inc. grew its position in Marathon Petroleum by 320.2% during the 3rd quarter. First Command Advisory Services Inc. now owns 1,080 shares of the oil and gas company’s stock worth $427,000 after purchasing an additional 823 shares during the last quarter. Machina Capital S.A.S. purchased a new position in shares of Marathon Petroleum in the third quarter worth $2,637,000. Illinois Municipal Retirement Fund lifted its stake in shares of Marathon Petroleum by 4.9% during the third quarter. Illinois Municipal Retirement Fund now owns 67,579 shares of the oil and gas company’s stock worth $26,722,000 after buying an additional 3,152 shares during the period. Knights of Columbus Asset Advisors LLC acquired a new stake in shares of Marathon Petroleum during the third quarter worth $1,830,000. Finally, AMG National Trust Bank grew its holdings in shares of Marathon Petroleum by 0.5% during the third quarter. AMG National Trust Bank now owns 15,660 shares of the oil and gas company’s stock valued at $6,192,000 after buying an additional 76 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 3.4%

Shares of MPC opened at $402.73 on Thursday. The firm has a market cap of $109.65 billion, a P/E ratio of 7.73, a PEG ratio of 0.10 and a beta of 0.53. Marathon Petroleum Corporation has a 12 month low of $161.93 and a 12 month high of $493.98. The stock’s 50 day moving average is $422.83 and its two-hundred day moving average is $298.62. The company has a current ratio of 1.45, a quick ratio of 1.09 and a debt-to-equity ratio of 1.10.

Marathon Petroleum (NYSE:MPC) last announced 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 for the quarter, compared to analyst estimates of $46.60 billion. During the same quarter last year, the firm posted $3.01 EPS. The business’s revenue was up 57.6% on a year-over-year basis. Analysts predict that Marathon Petroleum Corporation will post 66.31 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be given a dividend of $1.00 per share. The ex-dividend date 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 is currently 13.75%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MPC shares. Morgan Stanley upped their target price on Marathon Petroleum from $453.00 to $458.00 and gave the company an “overweight” rating in a research report on Wednesday, November 4th. Bank of America increased their price objective on Marathon Petroleum from $410.00 to $426.00 and gave the company a “neutral” rating in a report on Friday, October 2nd. Piper Sandler raised their price objective on Marathon Petroleum from $462.00 to $466.00 and gave the stock an “overweight” rating in a research note on Thursday, November 5th. Jefferies Financial Group restated a “hold” rating and issued a $433.00 price objective on shares of Marathon Petroleum in a research note on Sunday, October 11th. Finally, Weiss Ratings raised Marathon Petroleum from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. One equities research 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $425.12.

Insiders Place Their Bets

In other Marathon Petroleum news, SVP Shawn Lyon sold 1,000 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $375.75, for a total transaction of $375,750.00. Following the transaction, the senior vice president directly owned 11,194 shares of the company’s stock, valued at $4,206,145.50. This trade represents a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 transaction of $206,790.30. Following the completion of the sale, the vice president owned 1,576 shares in the company, valued at approximately $571,757.04. This trade represents a 26.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 19,191 shares of company stock worth $6,905,127. Company insiders own 0.17% of the company’s stock.

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.