Douglas Lane & Associates LLC Sells 7,623 Shares of Marathon Petroleum Corporation $MPC

Douglas Lane & Associates LLC cut its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 7.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 101,802 shares of the oil and gas company’s stock after selling 7,623 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Marathon Petroleum were worth $40,255,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Solstein Capital LLC bought a new position in Marathon Petroleum during the 2nd quarter valued at $26,000. Caitlin John LLC bought a new position in shares of Marathon Petroleum during the second quarter worth about $26,000. Bell Investment Advisors Inc bought a new stake in Marathon Petroleum in the second quarter valued at about $27,000. Main Street Group LTD bought a new position in Marathon Petroleum during the 1st quarter worth approximately $35,000. Finally, Cetera Trust Company N.A acquired a new position in shares of Marathon Petroleum in the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of NYSE MPC traded down $1.10 during midday trading on Friday, hitting $462.24. 789,302 shares of the company’s stock were exchanged, compared to its average volume of 2,491,462. Marathon Petroleum Corporation has a twelve month low of $161.93 and a twelve month high of $470.00. The firm has a market cap of $134.95 billion, a P/E ratio of 15.91, a PEG ratio of 0.14 and a beta of 0.54. The stock’s 50 day moving average price is $377.66 and its 200-day moving average price is $299.77. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89.

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

Marathon Petroleum Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on MPC shares. Mizuho raised their price objective on Marathon Petroleum from $304.00 to $457.00 and gave the stock a “neutral” rating in a research note on Thursday. Jefferies Financial Group reaffirmed a “hold” rating and issued a $413.00 price target on shares of Marathon Petroleum in a report on Monday, September 21st. Citigroup reiterated a “neutral” rating on shares of Marathon Petroleum in a research note on Friday, October 2nd. Wells Fargo & Company upped their target price on Marathon Petroleum from $359.00 to $400.00 and gave the company an “overweight” rating in a report on Tuesday, September 1st. Finally, Morgan Stanley increased their price target on Marathon Petroleum from $265.00 to $453.00 and gave the stock an “overweight” rating in a research report on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and a consensus target price of $383.69.

Insider Buying and Selling

In other Marathon Petroleum news, SVP Shawn M. Lyon sold 1,000 shares of the business’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $375.75, for a total transaction of $375,750.00. Following the sale, the senior vice president directly owned 11,194 shares in the company, valued at approximately $4,206,145.50. The trade was a 8.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Molly R. Benson sold 17,196 shares of the company’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 transaction of $6,165,969.72. Following the completion of the sale, the insider directly owned 30,334 shares of the company’s stock, valued at approximately $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. Insiders sold 21,691 shares of company stock valued at $7,780,127 over the last 90 days. 0.17% of the stock is currently owned by company 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.