Marathon Petroleum Corporation $MPC Stock Sold by North Point Portfolio Managers Corp OH

North Point Portfolio Managers Corp OH cut its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 25.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,223 shares of the oil and gas company’s stock after selling 15,736 shares during the period. Marathon Petroleum accounts for 3.3% of North Point Portfolio Managers Corp OH’s holdings, making the stock its 10th biggest holding. North Point Portfolio Managers Corp OH’s holdings in Marathon Petroleum were worth $17,882,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Energy Income Partners LLC purchased a new stake in Marathon Petroleum in the 2nd quarter worth $4,912,000. Evolve Private Wealth LLC bought a new position in Marathon Petroleum during the second quarter valued at approximately $673,000. Railway Pension Investments Ltd purchased a new position in Marathon Petroleum during the 2nd quarter valued at approximately $3,886,000. Pictet Asset Management Holding SA increased its stake in Marathon Petroleum by 31.0% in the 1st quarter. Pictet Asset Management Holding SA now owns 213,545 shares of the oil and gas company’s stock worth $52,146,000 after acquiring an additional 50,521 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in shares of Marathon Petroleum by 570.7% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 168,644 shares of the oil and gas company’s stock worth $41,180,000 after acquiring an additional 143,500 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MPC shares. Citigroup restated a “neutral” rating on shares of Marathon Petroleum in a research report on Friday, October 2nd. Piper Sandler upped their target price on shares of Marathon Petroleum from $344.00 to $462.00 and gave the company an “overweight” rating in a research report on Thursday, September 3rd. Raymond James Financial increased their price target on shares of Marathon Petroleum from $350.00 to $445.00 and gave the company an “outperform” rating in a report on Monday, September 14th. Mizuho upped their price objective on Marathon Petroleum from $284.00 to $304.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Finally, UBS Group reaffirmed a “buy” rating on shares of Marathon Petroleum in a research note on Thursday, October 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $370.38.

Marathon Petroleum Trading Up 1.7%

MPC stock traded up $7.17 during mid-day trading on Wednesday, reaching $439.54. 951,055 shares of the stock traded hands, compared to its average volume of 2,494,014. Marathon Petroleum Corporation has a one year low of $161.93 and a one year high of $444.99. The stock has a market capitalization of $128.32 billion, a PE ratio of 15.12, a PEG ratio of 0.13 and a beta of 0.54. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25. The business has a 50-day moving average price of $372.02 and a two-hundred day moving average price of $296.69.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The firm had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. During the same quarter last year, the business earned $3.96 EPS. The business’s revenue was up 53.5% on a year-over-year basis. Equities research analysts expect that Marathon Petroleum Corporation will post 61.31 EPS for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, August 19th. Marathon Petroleum’s payout ratio is 13.75%.

Insider Activity

In other news, VP Erin M. Brzezinski sold 570 shares of the 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 approximately $571,757.04. This represents a 26.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 sale, the insider directly owned 30,334 shares of the company’s stock, valued at $10,876,862.38. This represents a 36.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 21,691 shares of company stock valued at $7,780,127. 0.17% of the stock is currently owned by insiders.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE:MPC) is an integrated downstream energy company engaged primarily in refining, marketing and transporting petroleum products. The company converts crude oil and other feedstocks into gasoline, diesel, jet fuel, asphalt, propane and other refined products used by consumers, businesses and industrial customers.

Marathon Petroleum operates refineries and related logistics assets in the United States, with a refining and marketing presence serving markets across the Midwest, Gulf Coast and West Coast.