Allworth Financial LP Has $2.03 Million Stake in Marathon Petroleum Co. (NYSE:MPC)

Allworth Financial LP lessened its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 5.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,449 shares of the oil and gas company’s stock after selling 735 shares during the period. Allworth Financial LP’s holdings in Marathon Petroleum were worth $2,028,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. WR Wealth Planners LLC grew its stake in Marathon Petroleum by 15.2% during the second quarter. WR Wealth Planners LLC now owns 431 shares of the oil and gas company’s stock valued at $75,000 after acquiring an additional 57 shares in the last quarter. D Orazio & Associates Inc. grew its position in shares of Marathon Petroleum by 3.2% during the 1st quarter. D Orazio & Associates Inc. now owns 1,894 shares of the oil and gas company’s stock valued at $382,000 after purchasing an additional 59 shares in the last quarter. Legacy Advisors LLC increased its holdings in shares of Marathon Petroleum by 5.0% in the second quarter. Legacy Advisors LLC now owns 1,238 shares of the oil and gas company’s stock worth $215,000 after purchasing an additional 59 shares during the period. Latitude Advisors LLC raised its position in shares of Marathon Petroleum by 3.6% in the second quarter. Latitude Advisors LLC now owns 1,714 shares of the oil and gas company’s stock worth $297,000 after buying an additional 60 shares in the last quarter. Finally, SouthState Corp boosted its stake in Marathon Petroleum by 1.5% during the second quarter. SouthState Corp now owns 4,122 shares of the oil and gas company’s stock valued at $715,000 after buying an additional 61 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on MPC shares. Scotiabank lowered their price target on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Wells Fargo & Company lowered their target price on shares of Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Tudor, Pickering, Holt & Co. lowered shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a report on Monday, September 9th. Tudor Pickering downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 9th. Finally, Piper Sandler reduced their target price on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $187.00.

Marathon Petroleum Price Performance

Shares of Marathon Petroleum stock opened at $152.36 on Monday. The stock has a market capitalization of $53.68 billion, a P/E ratio of 7.61, a price-to-earnings-growth ratio of 3.03 and a beta of 1.37. Marathon Petroleum Co. has a one year low of $140.98 and a one year high of $221.11. 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 business’s 50 day simple moving average is $165.37 and its two-hundred day simple moving average is $173.25.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, beating 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 analyst estimates of $36.66 billion. During the same period in the prior year, the business posted $5.32 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. Analysts forecast that Marathon Petroleum Co. will post 8.71 EPS for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were issued a dividend of $0.825 per share. The ex-dividend date was Wednesday, August 21st. This represents a $3.30 dividend on an annualized basis and a yield of 2.17%. Marathon Petroleum’s dividend payout ratio is presently 16.48%.

About Marathon Petroleum

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.