SteelPeak Wealth LLC Sells 7,373 Shares of Marathon Petroleum Corporation $MPC

SteelPeak Wealth LLC cut its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 34.1% during the 4th quarter, HoldingsChannel reports. The firm owned 14,255 shares of the oil and gas company’s stock after selling 7,373 shares during the period. SteelPeak Wealth LLC’s holdings in Marathon Petroleum were worth $2,318,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Delos Wealth Advisors LLC purchased a new position in Marathon Petroleum during the second quarter valued at $25,000. WFA of San Diego LLC purchased a new stake in shares of Marathon Petroleum in the 2nd quarter worth about $33,000. Transce3nd LLC increased its stake in shares of Marathon Petroleum by 10,250.0% in the 2nd quarter. Transce3nd LLC now owns 207 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 205 shares in the last quarter. Rialto Wealth Management LLC increased its stake in shares of Marathon Petroleum by 721.4% in the 4th quarter. Rialto Wealth Management LLC now owns 230 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 202 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in Marathon Petroleum during the 2nd quarter valued at about $38,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Marathon Petroleum

In other news, insider Ricky D. Hessling sold 1,810 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $224.78, for a total transaction of $406,851.80. Following the sale, the insider directly owned 10,188 shares in the company, valued at approximately $2,290,058.64. This represents a 15.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have sold 4,473 shares of company stock valued at $1,015,428. Company insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on MPC. Zacks Research cut shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. The Goldman Sachs Group upped their price target on Marathon Petroleum from $211.00 to $239.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. Weiss Ratings lowered Marathon Petroleum from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, March 19th. Jefferies Financial Group lowered their price objective on Marathon Petroleum from $216.00 to $205.00 and set a “buy” rating for the company in a research note on Monday, January 26th. Finally, Wells Fargo & Company increased their target price on Marathon Petroleum from $213.00 to $217.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $219.19.

Marathon Petroleum Trading Up 0.0%

Shares of Marathon Petroleum stock opened at $241.81 on Friday. The stock has a market capitalization of $71.21 billion, a PE ratio of 18.11, a P/E/G ratio of 0.51 and a beta of 0.58. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.26 and a quick ratio of 0.74. The company’s fifty day simple moving average is $212.32 and its 200-day simple moving average is $194.47. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $255.77.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share for the quarter, beating analysts’ consensus estimates of $3.73 by $0.34. Marathon Petroleum had a net margin of 2.99% and a return on equity of 13.90%. The company had revenue of $32.57 billion for the quarter, compared to analysts’ expectations of $30.89 billion. During the same quarter in the previous year, the company earned $0.77 EPS. Marathon Petroleum’s revenue for the quarter was down .1% on a year-over-year basis. As a group, equities analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 18th were given a dividend of $1.00 per share. The ex-dividend date was Wednesday, February 18th. This represents a $4.00 annualized dividend and a yield of 1.7%. Marathon Petroleum’s dividend payout ratio (DPR) is 29.96%.

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.