Mader & Shannon Wealth Management Inc. Sells 9,653 Shares of Marathon Petroleum Corporation $MPC

by · The Markets Daily

Mader & Shannon Wealth Management Inc. cut its stake in Marathon Petroleum Corporation (NYSE:MPC – Free Report) by 52.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,758 shares of the oil and gas company’s stock after selling 9,653 shares during the period. Marathon Petroleum makes up 1.4% of Mader & Shannon Wealth Management Inc.’s investment portfolio, making the stock its 19th largest position. Mader & Shannon Wealth Management Inc.’s holdings in Marathon Petroleum were worth $3,463,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Vaquero Private Wealth Ltd. acquired a new position in Marathon Petroleum during the third quarter worth approximately $39,000. Solstein Capital LLC acquired a new position in shares of Marathon Petroleum in the 2nd quarter valued at $26,000. Caitlin John LLC acquired a new position in shares of Marathon Petroleum in the 2nd quarter valued at $26,000. Bell Investment Advisors Inc purchased a new stake in shares of Marathon Petroleum during the 2nd quarter valued at $27,000. Finally, MeadowBrook Investment Advisors LLC purchased a new stake in shares of Marathon Petroleum during the 3rd quarter valued at $47,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MPC. The Goldman Sachs Group increased their target price on Marathon Petroleum from $376.00 to $472.00 and gave the stock a “buy” rating in a research report on Monday, September 21st. UBS Group set a $510.00 price target on Marathon Petroleum in a research report on Friday, October 9th. Piper Sandler upped their price target on Marathon Petroleum from $462.00 to $466.00 and gave the stock an “overweight” rating in a research note on Thursday. Barclays raised their price objective on Marathon Petroleum from $321.00 to $488.00 and gave the stock an “overweight” rating in a report on Monday, October 12th. Finally, Bank of America lifted their price objective on Marathon Petroleum from $410.00 to $426.00 and gave the company a “neutral” rating in a research note on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $425.12.

View Our Latest Stock Report on Marathon Petroleum

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, VP Erin M. Brzezinski sold 570 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $362.79, for a total transaction of $206,790.30. Following the transaction, the vice president owned 1,576 shares in the company, valued at $571,757.04. The trade was a 26.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Shawn Lyon sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $350.00, for a total value of $875,000.00. Following the completion of the sale, the senior vice president directly owned 12,619 shares of the company’s stock, valued at $4,416,650. The trade was a 16.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,691 shares of company stock valued at $7,780,127 over the last three months. 0.17% of the stock is owned by company insiders.

Marathon Petroleum News Roundup

Here are the key news stories impacting Marathon Petroleum this week:

Marathon Petroleum Trading Down 1.3%

MPC traded down $4.84 during trading on Friday, hitting $372.48. 2,478,500 shares of the company’s stock were exchanged, compared to its average volume of 2,065,560. 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 moving average price of $421.69 and a 200 day moving average price of $295.35. The firm has a market cap of $108.74 billion, a P/E ratio of 12.80, a price-to-earnings-growth ratio of 0.11 and a beta of 0.53. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19.

Marathon Petroleum (NYSE:MPC – Get Free Report) last issued its earnings results on Tuesday, November 3rd. The oil and gas company reported $26.93 EPS for the quarter, beating analysts’ consensus estimates of $25.37 by $1.56. The business had revenue of $56.03 billion for the quarter, compared to the consensus estimate of $46.60 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The business’s revenue for the quarter was up 57.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.01 EPS. As a group, analysts expect that Marathon Petroleum Corporation will post 64.78 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, November 18th. Marathon Petroleum’s dividend payout ratio is currently 13.75%.

Marathon Petroleum Profile

(Free Report)

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.

Marathon Petroleum was established as an independent company in 2011, when it was spun off from Marathon Oil Corporation.

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