Howard Capital Management Inc. Sells 285 Shares of Marathon Petroleum Corporation $MPC

Howard Capital Management Inc. cut its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 1.2% in the second quarter, HoldingsChannel reports. The firm owned 22,657 shares of the oil and gas company’s stock after selling 285 shares during the period. Howard Capital Management Inc.’s holdings in Marathon Petroleum were worth $3,764,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Baker Tilly Wealth Management LLC increased its stake in shares of Marathon Petroleum by 2.8% during the second quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company’s stock valued at $370,000 after buying an additional 60 shares during the period. CHICAGO TRUST Co NA grew its holdings in Marathon Petroleum by 3.9% during the 2nd quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company’s stock worth $280,000 after acquiring an additional 63 shares in the last quarter. Werba Rubin Papier Wealth Management grew its holdings in Marathon Petroleum by 4.2% during the 2nd quarter. Werba Rubin Papier Wealth Management now owns 1,577 shares of the oil and gas company’s stock worth $262,000 after acquiring an additional 64 shares in the last quarter. Sunpointe LLC increased its position in Marathon Petroleum by 4.1% during the 2nd quarter. Sunpointe LLC now owns 1,750 shares of the oil and gas company’s stock valued at $291,000 after purchasing an additional 69 shares during the period. Finally, Wallace Advisory Group LLC raised its holdings in shares of Marathon Petroleum by 3.4% in the 2nd quarter. Wallace Advisory Group LLC now owns 2,258 shares of the oil and gas company’s stock valued at $375,000 after purchasing an additional 75 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the sale, the insider owned 28,700 shares of the company’s stock, valued at approximately $4,678,100. The trade was a 27.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.25% of the company’s stock.

Marathon Petroleum Stock Down 0.0%

Marathon Petroleum stock opened at $196.13 on Tuesday. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $201.61. The business has a fifty day moving average price of $184.19 and a 200-day moving average price of $167.95. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. The stock has a market capitalization of $59.63 billion, a price-to-earnings ratio of 29.10, a PEG ratio of 4.11 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.74. The company had revenue of $34.10 billion during the quarter, compared to analysts’ expectations of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The firm’s revenue was down 11.1% compared to the same quarter last year. During the same period last year, the business posted $4.12 earnings per share. Equities research analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were paid a $0.91 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a yield of 1.9%. Marathon Petroleum’s dividend payout ratio (DPR) is 54.01%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MPC. TD Cowen dropped their price objective on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Raymond James Financial reaffirmed an “outperform” rating and set a $203.00 target price (up previously from $199.00) on shares of Marathon Petroleum in a research report on Friday, October 17th. Bank of America lifted their price target on Marathon Petroleum from $184.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, September 3rd. UBS Group upped their price objective on Marathon Petroleum from $203.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Finally, Evercore ISI lifted their target price on Marathon Petroleum from $170.00 to $210.00 and gave the company an “in-line” rating in a research note on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Marathon Petroleum has an average rating of “Moderate Buy” and a consensus target price of $200.31.

Marathon Petroleum 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.