Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. lowered its position in shares of Marathon Petroleum Co. (NYSE:MPCGet Rating) by 6.8% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 295,198 shares of the oil and gas company’s stock after selling 21,377 shares during the quarter. Meyer Handelman Co.’s holdings in Marathon Petroleum were worth $24,268,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MPC. Norges Bank acquired a new stake in Marathon Petroleum during the 4th quarter worth about $411,853,000. Bank of New York Mellon Corp raised its stake in shares of Marathon Petroleum by 21.9% during the 1st quarter. Bank of New York Mellon Corp now owns 12,481,878 shares of the oil and gas company’s stock valued at $1,067,202,000 after buying an additional 2,244,421 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Marathon Petroleum by 22,119.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,227,468 shares of the oil and gas company’s stock valued at $190,449,000 after buying an additional 2,217,443 shares during the last quarter. Invesco Ltd. raised its stake in shares of Marathon Petroleum by 39.0% during the 1st quarter. Invesco Ltd. now owns 6,695,296 shares of the oil and gas company’s stock valued at $572,449,000 after buying an additional 1,878,976 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Marathon Petroleum by 89.1% during the 1st quarter. First Trust Advisors LP now owns 1,431,767 shares of the oil and gas company’s stock valued at $122,416,000 after buying an additional 674,456 shares during the last quarter. Institutional investors and hedge funds own 78.69% of the company’s stock.

Marathon Petroleum Price Performance

Shares of Marathon Petroleum stock traded down $5.04 on Friday, hitting $90.94. 123,772 shares of the company were exchanged, compared to its average volume of 5,116,276. The stock has a market capitalization of $45.34 billion, a price-to-earnings ratio of 6.49, a price-to-earnings-growth ratio of 0.19 and a beta of 1.70. The company has a 50-day moving average price of $95.54 and a 200 day moving average price of $91.55. Marathon Petroleum Co. has a 1-year low of $59.55 and a 1-year high of $114.35. The company has a quick ratio of 1.10, a current ratio of 1.49 and a debt-to-equity ratio of 0.79.

Marathon Petroleum (NYSE:MPCGet Rating) last issued its earnings results on Tuesday, August 2nd. The oil and gas company reported $10.61 earnings per share for the quarter, topping the consensus estimate of $4.98 by $5.63. The business had revenue of $54.33 billion for the quarter, compared to analysts’ expectations of $44.26 billion. Marathon Petroleum had a return on equity of 23.85% and a net margin of 5.09%. The business’s revenue for the quarter was up 82.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 EPS. As a group, sell-side analysts predict that Marathon Petroleum Co. will post 21.76 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Wednesday, August 17th were issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date was Tuesday, August 16th. Marathon Petroleum’s dividend payout ratio is presently 15.68%.

Insider Activity at Marathon Petroleum

In related news, VP Carl Kristopher Hagedorn sold 14,353 shares of the company’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $105.41, for a total value of $1,512,949.73. Following the transaction, the vice president now directly owns 7,873 shares in the company, valued at $829,892.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Marathon Petroleum news, VP Carl Kristopher Hagedorn sold 14,353 shares of the company’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $105.41, for a total transaction of $1,512,949.73. Following the transaction, the vice president now directly owns 7,873 shares in the company, valued at $829,892.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Suzanne Gagle sold 35,174 shares of the company’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $93.57, for a total value of $3,291,231.18. Following the transaction, the senior vice president now owns 43,996 shares in the company, valued at $4,116,705.72. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by insiders.

Analyst Ratings Changes

MPC has been the subject of a number of recent research reports. Credit Suisse Group lifted their price objective on Marathon Petroleum to $130.00 in a research note on Thursday, June 9th. Barclays lifted their price target on Marathon Petroleum from $94.00 to $112.00 and gave the company an “overweight” rating in a research note on Tuesday, August 16th. Cowen lifted their price target on Marathon Petroleum to $129.00 in a research note on Tuesday. Morgan Stanley lifted their price target on Marathon Petroleum from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, July 15th. Finally, Piper Sandler cut their price target on Marathon Petroleum from $111.00 to $110.00 and set a “neutral” rating for the company in a research note on Monday, September 12th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Marathon Petroleum presently has an average rating of “Buy” and an average target price of $116.54.

Marathon Petroleum Company Profile

(Get Rating)

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. 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.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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