Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Wealthspire Advisors LLC

Wealthspire Advisors LLC decreased its position in Marathon Petroleum Co. (NYSE:MPC) by 5.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,183 shares of the oil and gas company’s stock after selling 475 shares during the quarter. Wealthspire Advisors LLC’s holdings in Marathon Petroleum were worth $1,420,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MPC. Scarborough Advisors LLC increased its stake in Marathon Petroleum by 10.7% during the 4th quarter. Scarborough Advisors LLC now owns 2,174 shares of the oil and gas company’s stock worth $323,000 after buying an additional 210 shares during the period. Global Assets Advisory LLC acquired a new position in shares of Marathon Petroleum in the first quarter worth about $36,823,000. Founders Financial Securities LLC grew its stake in Marathon Petroleum by 22.8% during the 2nd quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock valued at $863,000 after purchasing an additional 924 shares in the last quarter. Fidelis Capital Partners LLC increased its holdings in Marathon Petroleum by 3.2% during the 1st quarter. Fidelis Capital Partners LLC now owns 3,050 shares of the oil and gas company’s stock worth $615,000 after purchasing an additional 94 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Marathon Petroleum by 17.6% in the 4th quarter. Franklin Resources Inc. now owns 692,063 shares of the oil and gas company’s stock valued at $102,675,000 after purchasing an additional 103,471 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

MPC stock opened at $163.58 on Monday. Marathon Petroleum Co. has a 1 year low of $139.32 and a 1 year high of $221.11. The stock has a market capitalization of $57.63 billion, a price-to-earnings ratio of 8.17, a PEG ratio of 2.09 and a beta of 1.38. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31. The stock’s fifty day moving average is $170.03 and its two-hundred day moving average is $180.16.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, beating the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The firm had revenue of $38.36 billion for the quarter, compared to the consensus estimate of $36.66 billion. During the same period last year, the firm posted $5.32 EPS. Marathon Petroleum’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, research analysts predict that Marathon Petroleum Co. will post 12.68 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.825 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.30 annualized dividend and a dividend yield of 2.02%. Marathon Petroleum’s dividend payout ratio is presently 16.48%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Mizuho dropped their price target on shares of Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating for the company in a research note on Thursday, June 20th. Barclays cut their target price on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating on the stock in a research note on Monday, July 1st. Scotiabank decreased their price target on Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Raymond James reduced their target price on Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating on the stock in a report on Thursday, May 30th. Finally, JPMorgan Chase & Co. decreased their target price on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $198.38.

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.