Marathon Petroleum Corporation $MPC Shares Sold by Abacus Planning Group Inc.

Abacus Planning Group Inc. lessened its stake in Marathon Petroleum Corporation (NYSE:MPC) by 23.4% during the second quarter, HoldingsChannel.com reports. The firm owned 2,784 shares of the oil and gas company’s stock after selling 852 shares during the period. Abacus Planning Group Inc.’s holdings in Marathon Petroleum were worth $462,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. CBIZ Investment Advisory Services LLC raised its stake in shares of Marathon Petroleum by 1,546.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 201 shares in the last quarter. Hughes Financial Services LLC acquired a new stake in shares of Marathon Petroleum in the 1st quarter valued at about $32,000. WPG Advisers LLC acquired a new stake in shares of Marathon Petroleum in the 1st quarter valued at about $32,000. Decker Retirement Planning Inc. raised its stake in shares of Marathon Petroleum by 1,621.4% in the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 227 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Marathon Petroleum in the 1st quarter valued at about $35,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

NYSE MPC opened at $192.36 on Friday. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $201.61. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. The stock has a market cap of $58.48 billion, a price-to-earnings ratio of 28.54, a price-to-earnings-growth ratio of 3.33 and a beta of 0.90. The company has a 50-day moving average price of $176.59 and a two-hundred day moving average price of $161.84.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, topping the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The firm had revenue of $34.10 billion during the quarter, compared to analysts’ expectations of $31.70 billion. During the same quarter in the prior year, the firm earned $4.12 EPS. Marathon Petroleum’s quarterly revenue was down 11.1% on a year-over-year basis. Analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were given a $0.91 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 1.9%. Marathon Petroleum’s dividend payout ratio is 54.01%.

Analyst Ratings Changes

Several research firms recently weighed in on MPC. Bank of America increased their price objective on shares of Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 3rd. Wells Fargo & Company increased their price objective on shares of Marathon Petroleum from $182.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Piper Sandler increased their price objective on shares of Marathon Petroleum from $184.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, September 11th. Morgan Stanley increased their price objective on shares of Marathon Petroleum from $160.00 to $182.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Finally, TD Cowen dropped their price objective on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $195.00.

Insider Buying and Selling

In other news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the transaction, the insider directly owned 28,700 shares in the company, valued at $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.21% of the company’s stock.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. 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 and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.