Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Aviance Capital Partners LLC

Aviance Capital Partners LLC decreased its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 4.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,341 shares of the oil and gas company’s stock after selling 100 shares during the quarter. Aviance Capital Partners LLC’s holdings in Marathon Petroleum were worth $472,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Marathon Petroleum in the 4th quarter worth $25,000. ICA Group Wealth Management LLC purchased a new position in shares of Marathon Petroleum in the 4th quarter worth $30,000. Vima LLC purchased a new position in shares of Marathon Petroleum in the 4th quarter worth $30,000. Bruce G. Allen Investments LLC purchased a new position in shares of Marathon Petroleum in the 4th quarter worth $32,000. Finally, Bare Financial Services Inc purchased a new position in shares of Marathon Petroleum in the 4th quarter worth $32,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 0.0 %

NYSE:MPC traded up $0.03 during mid-day trading on Monday, reaching $173.51. The stock had a trading volume of 200,364 shares, compared to its average volume of 2,709,164. The company has a market capitalization of $61.13 billion, a price-to-earnings ratio of 8.67, a price-to-earnings-growth ratio of 1.62 and a beta of 1.40. Marathon Petroleum Co. has a 1-year low of $112.82 and a 1-year high of $221.11. The stock’s 50 day simple moving average is $178.71 and its two-hundred day simple moving average is $175.96. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 0.99.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.25. The business had revenue of $32.71 billion during the quarter, compared to the consensus estimate of $32.07 billion. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period last year, the firm earned $6.09 earnings per share. Equities analysts anticipate that Marathon Petroleum Co. will post 17.85 EPS for the current year.

Marathon Petroleum declared that its Board of Directors has approved a share buyback plan on Tuesday, April 30th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas company to purchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were paid a $0.825 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $3.30 dividend on an annualized basis and a yield of 1.90%. Marathon Petroleum’s dividend payout ratio (DPR) is 16.48%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MPC shares. Mizuho cut their target price on Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. The Goldman Sachs Group raised their price objective on Marathon Petroleum from $175.00 to $211.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. StockNews.com lowered Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Bank of America raised their price objective on Marathon Petroleum from $185.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Finally, Piper Sandler cut their price objective on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $192.08.

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.