Red Door Wealth Management LLC Cuts Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Red Door Wealth Management LLC lowered its position in Marathon Petroleum Co. (NYSE:MPC) by 52.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,228 shares of the oil and gas company’s stock after selling 1,365 shares during the period. Red Door Wealth Management LLC’s holdings in Marathon Petroleum were worth $247,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in MPC. NBC Securities Inc. lifted its position in shares of Marathon Petroleum by 0.9% during the 1st quarter. NBC Securities Inc. now owns 6,333 shares of the oil and gas company’s stock worth $1,276,000 after buying an additional 55 shares in the last quarter. Guidance Capital Inc. lifted its holdings in Marathon Petroleum by 1.1% during the first quarter. Guidance Capital Inc. now owns 5,483 shares of the oil and gas company’s stock worth $1,135,000 after acquiring an additional 57 shares during the period. Bruce G. Allen Investments LLC boosted its position in Marathon Petroleum by 27.3% in the first quarter. Bruce G. Allen Investments LLC now owns 275 shares of the oil and gas company’s stock worth $55,000 after purchasing an additional 59 shares during the last quarter. First Financial Corp IN increased its position in shares of Marathon Petroleum by 2.5% during the 1st quarter. First Financial Corp IN now owns 2,429 shares of the oil and gas company’s stock valued at $489,000 after purchasing an additional 59 shares during the last quarter. Finally, Marino Stram & Associates LLC raised its stake in shares of Marathon Petroleum by 0.5% during the 4th quarter. Marino Stram & Associates LLC now owns 11,424 shares of the oil and gas company’s stock worth $1,695,000 after purchasing an additional 60 shares during the period. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Stock Up 0.3 %

Shares of NYSE:MPC opened at $173.48 on Monday. The company has a market cap of $61.12 billion, a price-to-earnings ratio of 8.67, a PEG ratio of 1.62 and a beta of 1.40. Marathon Petroleum Co. has a one year low of $112.82 and a one year high of $221.11. The firm has a fifty day moving average price of $178.71 and a two-hundred day moving average price of $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 earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.53 by $0.25. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The business had revenue of $32.71 billion during the quarter, compared to analysts’ expectations of $32.07 billion. During the same period in the previous year, the business earned $6.09 earnings per share. The firm’s revenue was down 6.2% on a year-over-year basis. Analysts anticipate that Marathon Petroleum Co. will post 17.85 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were given a dividend of $0.825 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $3.30 annualized dividend and a yield of 1.90%. Marathon Petroleum’s payout ratio is presently 16.48%.

Marathon Petroleum declared that its board has initiated a share repurchase program on Tuesday, April 30th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the oil and gas company to repurchase up to 7.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have commented on MPC shares. The Goldman Sachs Group lifted their price objective on shares of Marathon Petroleum from $175.00 to $211.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. StockNews.com downgraded Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Scotiabank raised their target price on Marathon Petroleum from $175.00 to $207.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Raymond James dropped their price target on Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating on the stock in a research report on Thursday, May 30th. Finally, Mizuho decreased their price objective on Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating for the company in a report on Thursday, June 20th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.