1,662 Marathon Petroleum Corporation $MPC Shares Sold by United Capital Management of KS Inc.

United Capital Management of KS Inc. cut its position in Marathon Petroleum Corporation (NYSE:MPC) by 3.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,703 shares of the oil and gas company’s stock after selling 1,662 shares during the quarter. Marathon Petroleum makes up about 2.4% of United Capital Management of KS Inc.’s holdings, making the stock its 13th biggest position. United Capital Management of KS Inc.’s holdings in Marathon Petroleum were worth $18,467,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of MPC. Texas Bank & Trust Co bought a new position in shares of Marathon Petroleum in the third quarter worth about $380,000. Vestor Capital LLC lifted its position in shares of Marathon Petroleum by 5,350.5% during the 3rd quarter. Vestor Capital LLC now owns 6,050 shares of the oil and gas company’s stock worth $2,392,000 after purchasing an additional 5,939 shares during the last quarter. Leuthold Group LLC bought a new stake in Marathon Petroleum during the 3rd quarter valued at approximately $8,979,000. Fulcrum Asset Management LLP boosted its stake in Marathon Petroleum by 96,518.2% during the 3rd quarter. Fulcrum Asset Management LLP now owns 10,628 shares of the oil and gas company’s stock valued at $4,166,000 after purchasing an additional 10,617 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Marathon Petroleum by 8.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 23,500 shares of the oil and gas company’s stock valued at $9,873,000 after buying an additional 1,747 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Molly Benson sold 17,196 shares of the firm’s stock in a transaction that occurred on 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 owned 30,334 shares in the company, valued at approximately $10,876,862.38. This trade represents a 36.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Erin M. Brzezinski sold 570 shares of Marathon Petroleum stock in a transaction that occurred 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 sale, the vice president directly owned 1,576 shares in the company, valued at $571,757.04. The trade was a 26.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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%

Shares of MPC opened at $389.91 on Tuesday. The company has a 50-day simple moving average of $422.11 and a 200-day simple moving average of $296.41. 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 debt-to-equity ratio of 1.10, a quick ratio of 0.89 and a current ratio of 1.45. Marathon Petroleum Corporation has a 52 week low of $161.93 and a 52 week high of $493.98.

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

Marathon Petroleum Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have commented on MPC shares. The Goldman Sachs Group lifted their price target on Marathon Petroleum from $376.00 to $472.00 and gave the stock a “buy” rating in a research report on Monday, September 21st. Morgan Stanley increased their price objective on Marathon Petroleum from $453.00 to $458.00 and gave the company an “overweight” rating in a research report on Wednesday, November 4th. Weiss Ratings raised Marathon Petroleum from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Evercore set a $330.00 price objective on shares of Marathon Petroleum in a research note on Wednesday, August 5th. Finally, TD Cowen boosted their target price on shares of Marathon Petroleum from $450.00 to $478.00 and gave the stock a “buy” rating in a research report on Thursday, October 22nd. One 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.