Insider Selling: Marathon Petroleum (NYSE:MPC) SVP Sells $875,000.00 in Stock

Marathon Petroleum Corporation (NYSE:MPC) SVP Shawn Lyon sold 2,500 shares of Marathon Petroleum stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total value of $875,000.00. Following the transaction, the senior vice president directly owned 12,619 shares of the company’s stock, valued at $4,416,650. This trade represents a 16.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Marathon Petroleum Trading Down 1.4%

Shares of MPC opened at $361.02 on Thursday. Marathon Petroleum Corporation has a 1-year low of $161.93 and a 1-year high of $367.24. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. The firm has a 50 day simple moving average of $293.31 and a 200-day simple moving average of $252.19. The stock has a market cap of $105.40 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 0.24 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, topping the consensus estimate of $14.27 by $3.46. The company had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.Marathon Petroleum’s revenue was up 53.5% compared to the same quarter last year. During the same quarter last year, the business posted $3.96 earnings per share. Equities analysts forecast that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a dividend of $1.00 per share. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. Marathon Petroleum’s dividend payout ratio (DPR) is 13.75%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MPC shares. Scotiabank boosted their target price on shares of Marathon Petroleum from $174.00 to $210.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. The Goldman Sachs Group boosted their price objective on shares of Marathon Petroleum from $291.00 to $376.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. UBS Group reiterated a “buy” rating and issued a $321.00 target price on shares of Marathon Petroleum in a report on Friday, July 10th. Piper Sandler raised their price objective on Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Finally, Wells Fargo & Company boosted their target price on Marathon Petroleum from $344.00 to $359.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $312.50.

Institutional Investors Weigh In On Marathon Petroleum

Several institutional investors and hedge funds have recently made changes to their positions in MPC. BlackRock Inc. acquired a new stake in Marathon Petroleum during the second quarter worth about $6,648,958,000. Bank of New York Mellon Corp bought a new position in shares of Marathon Petroleum during the second quarter valued at approximately $1,029,611,000. Norges Bank acquired a new stake in shares of Marathon Petroleum during the 4th quarter worth approximately $472,312,000. Bank of America Corp DE bought a new stake in shares of Marathon Petroleum in the 2nd quarter worth approximately $621,832,000. Finally, Capital Wealth Planning LLC boosted its position in Marathon Petroleum by 49,392.0% during the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock valued at $245,157,000 after purchasing an additional 1,495,097 shares during the period. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.