Marathon Petroleum Corporation $MPC Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC lowered its position in Marathon Petroleum Corporation (NYSE:MPC) by 3.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,100 shares of the oil and gas company’s stock after selling 1,508 shares during the quarter. New York Life Investment Management LLC’s holdings in Marathon Petroleum were worth $16,647,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Solstein Capital LLC acquired a new position in shares of Marathon Petroleum in the 2nd quarter valued at about $26,000. Caitlin John LLC purchased a new stake in shares of Marathon Petroleum during the 2nd quarter worth about $26,000. Bell Investment Advisors Inc purchased a new stake in shares of Marathon Petroleum during the 2nd quarter worth about $27,000. Main Street Group LTD purchased a new stake in shares of Marathon Petroleum during the 1st quarter worth about $35,000. Finally, Cetera Trust Company N.A acquired a new stake in Marathon Petroleum during the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Activity

In other news, insider Molly Benson sold 17,196 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the transaction, the insider directly owned 30,334 shares of the company’s stock, valued at approximately $10,876,862.38. The trade was a 36.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Shawn Lyon sold 1,000 shares of the company’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $375.75, for a total transaction of $375,750.00. Following the completion of the transaction, the senior vice president owned 11,194 shares of the company’s stock, valued at $4,206,145.50. This trade represents a 8.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 19,191 shares of company stock worth $6,905,127 over the last 90 days. Company insiders own 0.17% of the company’s stock.

Marathon Petroleum Price Performance

MPC stock opened at $402.73 on Thursday. The firm has a market cap of $109.65 billion, a P/E ratio of 13.84, a price-to-earnings-growth ratio of 0.10 and a beta of 0.53. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.09 and a current ratio of 1.45. Marathon Petroleum Corporation has a 1 year low of $161.93 and a 1 year high of $493.98. The stock has a 50-day simple moving average of $422.83 and a 200-day simple moving average of $298.62.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, November 3rd. The oil and gas company reported $26.93 EPS for the quarter, topping the consensus estimate of $25.37 by $1.56. The firm had revenue of $56.03 billion for the quarter, compared to analyst estimates of $46.60 billion. Marathon Petroleum had a return on equity of 55.82% and a net margin of 8.27%. Marathon Petroleum’s revenue for the quarter was up 57.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.01 EPS. On average, equities analysts predict that Marathon Petroleum Corporation will post 66.31 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be paid a dividend of $1.00 per share. The ex-dividend date is Wednesday, November 18th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.0%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 13.75%.

Analyst Ratings Changes

Several research firms recently commented on MPC. Citigroup raised their price target on shares of Marathon Petroleum from $318.00 to $518.00 and gave the company a “neutral” rating in a report on Tuesday, October 13th. Evercore set a $330.00 price target on shares of Marathon Petroleum in a research report on Wednesday, August 5th. Weiss Ratings upgraded shares of Marathon Petroleum from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Jefferies Financial Group reissued a “hold” rating and issued a $433.00 price objective on shares of Marathon Petroleum in a research report on Sunday, October 11th. Finally, Wells Fargo & Company increased their price objective on shares of Marathon Petroleum from $560.00 to $564.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $425.12.

About Marathon Petroleum

Marathon Petroleum Corporation is an integrated downstream energy company focused on refining, marketing, and transporting petroleum products. Its refineries produce fuels and other products, including gasoline, diesel, jet fuel, asphalt, and petrochemical feedstocks. The company sells transportation fuels and related products through a network of branded locations and other wholesale and commercial channels, primarily in the United States. Its midstream operations, conducted largely through its affiliated partnership MPLX, include gathering, processing, and transporting natural gas and natural gas liquids, as well as storing and transporting crude oil and refined products.