12,261 Marathon Petroleum Corporation $MPC Shares Sold by Trek Financial LLC

Trek Financial LLC lowered its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 38.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,971 shares of the oil and gas company’s stock after selling 12,261 shares during the quarter. Trek Financial LLC’s holdings in Marathon Petroleum were worth $7,897,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Focus Financial Network Inc. boosted its position in Marathon Petroleum by 2.0% in the third quarter. Focus Financial Network Inc. now owns 1,066 shares of the oil and gas company’s stock worth $422,000 after purchasing an additional 21 shares during the last quarter. CRA Financial Services LLC boosted its holdings in shares of Marathon Petroleum by 1.2% in the 3rd quarter. CRA Financial Services LLC now owns 1,844 shares of the oil and gas company’s stock worth $729,000 after buying an additional 21 shares during the last quarter. Avior Wealth Management LLC grew its position in Marathon Petroleum by 1.0% during the third quarter. Avior Wealth Management LLC now owns 2,130 shares of the oil and gas company’s stock valued at $842,000 after buying an additional 22 shares during the period. Physician Wealth Advisors Inc. grew its position in Marathon Petroleum by 7.8% during the third quarter. Physician Wealth Advisors Inc. now owns 316 shares of the oil and gas company’s stock valued at $125,000 after buying an additional 23 shares during the period. Finally, Global Assets Advisory LLC raised its position in Marathon Petroleum by 1.6% in the third quarter. Global Assets Advisory LLC now owns 1,442 shares of the oil and gas company’s stock worth $630,000 after acquiring an additional 23 shares during the period. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $444.92 on Monday. Marathon Petroleum Corporation has a fifty-two week low of $161.93 and a fifty-two week high of $493.98. The business has a 50-day simple moving average of $417.80 and a two-hundred day simple moving average of $289.77. 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 firm has a market cap of $129.89 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 0.12 and a beta of 0.53.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.27 by $3.46. The firm had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The company’s revenue for the quarter was up 53.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.96 EPS. On average, analysts expect that Marathon Petroleum Corporation will post 64.12 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be paid a $1.00 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $4.00 annualized dividend and a yield of 0.9%. Marathon Petroleum’s payout ratio is presently 13.75%.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, 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 owned 1,576 shares of the company’s stock, valued at $571,757.04. The trade was a 26.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Shawn Lyon sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the sale, the senior vice president owned 12,619 shares in the company, valued at approximately $4,416,650. This trade represents a 16.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 21,691 shares of company stock worth $7,780,127 in the last quarter. 0.17% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MPC shares. TD Cowen increased their price objective on Marathon Petroleum from $450.00 to $478.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. Evercore set a $330.00 target price on shares of Marathon Petroleum in a report on Wednesday, August 5th. Wells Fargo & Company lifted their target price on Marathon Petroleum from $400.00 to $560.00 and gave the company an “overweight” rating in a report on Wednesday, October 14th. Piper Sandler increased their price target on shares of Marathon Petroleum from $344.00 to $462.00 and gave the stock an “overweight” rating in a report on Thursday, September 3rd. Finally, UBS Group set a $510.00 price objective on Marathon Petroleum in a research note on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average price target of $424.31.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE:MPC) is an American downstream energy company engaged in refining, marketing, and transporting petroleum products. Its operations include converting crude oil into gasoline, diesel, jet fuel, asphalt, propane, and other refined products used by transportation, industrial, and commercial customers.

The company markets fuel under the Marathon brand and supplies products to independent marketers, commercial businesses, and other wholesale customers. Marathon Petroleum also owns a general-partner interest and significant limited-partner interest in MPLX Inc, a midstream company that operates pipelines, storage facilities, terminals, and gathering and processing assets supporting the movement of crude oil and natural gas liquids.

Marathon Petroleum’s refining and midstream activities are concentrated in the United States, with assets serving regions across the Midwest, Gulf Coast, and West Coast.