Marathon Petroleum Corporation (MPC) VP Sells $1,116,585.90 in Stock
Marathon Petroleum Corporation (NYSE:MPC) VP C. Michael Palmer sold 17,298 shares of the business’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $64.55, for a total value of $1,116,585.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Marathon Petroleum Corporation (NYSE:MPC) opened at $65.75 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.80 and a current ratio of 1.52. Marathon Petroleum Corporation has a 52 week low of $46.88 and a 52 week high of $66.19. The firm has a market capitalization of $32,110.65, a P/E ratio of 19.98, a price-to-earnings-growth ratio of 1.61 and a beta of 1.61.
Marathon Petroleum (NYSE:MPC) last released its earnings results on Thursday, October 26th. The oil and gas company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.29. The firm had revenue of $19.36 billion for the quarter, compared to analysts’ expectations of $19.38 billion. Marathon Petroleum had a return on equity of 8.52% and a net margin of 2.35%. The company’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.58 earnings per share. equities analysts predict that Marathon Petroleum Corporation will post 3.83 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Thursday, November 16th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, November 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.43%. Marathon Petroleum’s dividend payout ratio is 49.08%.
Several brokerages have weighed in on MPC. Scotiabank reissued a “hold” rating and set a $55.00 price objective on shares of Marathon Petroleum in a research note on Friday, September 1st. BidaskClub raised Marathon Petroleum from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Jefferies Group reissued a “buy” rating and set a $64.00 price objective (down from $65.00) on shares of Marathon Petroleum in a research note on Wednesday, September 6th. Zacks Investment Research raised Marathon Petroleum from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Friday, November 10th. Finally, Wells Fargo & Company cut Marathon Petroleum from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $65.00 to $56.00 in a research note on Tuesday, September 5th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $66.25.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC grew its stake in shares of Marathon Petroleum by 2.3% during the third quarter. Parametric Portfolio Associates LLC now owns 2,320,761 shares of the oil and gas company’s stock valued at $130,148,000 after buying an additional 52,667 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of Marathon Petroleum during the third quarter valued at approximately $1,286,000. Tortoise Capital Advisors L.L.C. grew its stake in shares of Marathon Petroleum by 3.5% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 44,950 shares of the oil and gas company’s stock valued at $2,521,000 after buying an additional 1,524 shares during the last quarter. Americafirst Capital Management LLC bought a new position in shares of Marathon Petroleum during the third quarter valued at approximately $332,000. Finally, Belpointe Asset Management LLC bought a new position in shares of Marathon Petroleum during the third quarter valued at approximately $517,000. 80.83% of the stock is currently owned by hedge funds and other institutional investors.
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Marathon Petroleum Company Profile
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
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