Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. trimmed its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 1.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,139 shares of the oil and gas company’s stock after selling 62 shares during the period. Legacy Financial Advisors Inc.’s holdings in Marathon Petroleum were worth $718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. NBC Securities Inc. boosted its holdings in Marathon Petroleum by 0.9% in the first quarter. NBC Securities Inc. now owns 6,333 shares of the oil and gas company’s stock valued at $1,276,000 after purchasing an additional 55 shares in the last quarter. Guidance Capital Inc. boosted its holdings in shares of Marathon Petroleum by 1.1% in the 1st quarter. Guidance Capital Inc. now owns 5,483 shares of the oil and gas company’s stock valued at $1,135,000 after buying an additional 57 shares in the last quarter. WR Wealth Planners LLC grew its position in shares of Marathon Petroleum by 15.2% in the 2nd quarter. WR Wealth Planners LLC now owns 431 shares of the oil and gas company’s stock valued at $75,000 after buying an additional 57 shares during the last quarter. Bruce G. Allen Investments LLC raised its stake in Marathon Petroleum by 27.3% during the 1st quarter. Bruce G. Allen Investments LLC now owns 275 shares of the oil and gas company’s stock worth $55,000 after acquiring an additional 59 shares in the last quarter. Finally, First Financial Corp IN lifted its position in Marathon Petroleum by 2.5% in the first quarter. First Financial Corp IN now owns 2,429 shares of the oil and gas company’s stock valued at $489,000 after acquiring an additional 59 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MPC. Barclays dropped their price objective on Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating on the stock in a report on Monday, July 1st. Jefferies Financial Group raised their price target on Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Piper Sandler reduced their price objective on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday. Tudor, Pickering, Holt & Co. lowered shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. Finally, Mizuho reduced their price target on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $197.69.

Marathon Petroleum Stock Performance

MPC opened at $164.34 on Friday. The stock’s 50 day simple moving average is $169.99 and its 200 day simple moving average is $179.77. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90. The stock has a market cap of $57.90 billion, a P/E ratio of 8.21, a P/E/G ratio of 2.09 and a beta of 1.38. Marathon Petroleum Co. has a 1-year low of $139.32 and a 1-year high of $221.11.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The company had revenue of $38.36 billion during the quarter, compared to analysts’ expectations of $36.66 billion. During the same quarter in the previous year, the business posted $5.32 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, equities analysts anticipate that Marathon Petroleum Co. will post 12.68 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio is presently 16.48%.

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.