Marathon Petroleum Co. (NYSE:MPC) Stock Position Trimmed by Wealthsource Partners LLC

Wealthsource Partners LLC cut its position in Marathon Petroleum Co. (NYSE:MPCGet Rating) by 1.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,154 shares of the oil and gas company’s stock after selling 179 shares during the quarter. Wealthsource Partners LLC’s holdings in Marathon Petroleum were worth $1,296,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MPC. Legacy Financial Advisors Inc. raised its holdings in Marathon Petroleum by 3.5% during the 1st quarter. Legacy Financial Advisors Inc. now owns 3,317 shares of the oil and gas company’s stock worth $284,000 after buying an additional 111 shares during the period. Lindbrook Capital LLC grew its stake in shares of Marathon Petroleum by 5.7% during the 1st quarter. Lindbrook Capital LLC now owns 2,227 shares of the oil and gas company’s stock worth $190,000 after acquiring an additional 121 shares in the last quarter. Center for Financial Planning Inc. grew its stake in shares of Marathon Petroleum by 3.8% during the 1st quarter. Center for Financial Planning Inc. now owns 3,647 shares of the oil and gas company’s stock worth $312,000 after acquiring an additional 132 shares in the last quarter. Freestone Capital Holdings LLC grew its stake in shares of Marathon Petroleum by 1.3% during the 4th quarter. Freestone Capital Holdings LLC now owns 10,133 shares of the oil and gas company’s stock worth $648,000 after acquiring an additional 133 shares in the last quarter. Finally, Stillwater Investment Management LLC grew its stake in shares of Marathon Petroleum by 0.7% during the 1st quarter. Stillwater Investment Management LLC now owns 21,102 shares of the oil and gas company’s stock worth $1,804,000 after acquiring an additional 146 shares in the last quarter. 80.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MPC has been the subject of several analyst reports. Raymond James raised their target price on shares of Marathon Petroleum from $125.00 to $131.00 and gave the company a “strong-buy” rating in a research note on Wednesday. Citigroup raised their target price on shares of Marathon Petroleum from $85.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, April 26th. The Goldman Sachs Group downgraded Marathon Petroleum from a “buy” rating to a “neutral” rating and raised their price target for the company from $90.00 to $102.00 in a report on Monday, May 16th. Wells Fargo & Company cut their price target on Marathon Petroleum from $129.00 to $117.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their price target on Marathon Petroleum from $95.00 to $109.00 in a report on Tuesday, May 17th. Two 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $112.83.

Marathon Petroleum Stock Up 0.1 %

MPC stock opened at $90.22 on Friday. The company has a market cap of $44.99 billion, a PE ratio of 6.10, a price-to-earnings-growth ratio of 0.20 and a beta of 1.76. The business has a 50-day simple moving average of $91.74 and a 200 day simple moving average of $86.18. Marathon Petroleum Co. has a 52 week low of $53.47 and a 52 week high of $114.35. The company has a quick ratio of 1.07, a current ratio of 1.49 and a debt-to-equity ratio of 0.79.

Marathon Petroleum (NYSE:MPCGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The oil and gas company reported $10.61 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $5.63. Marathon Petroleum had a return on equity of 23.85% and a net margin of 5.09%. The business had revenue of $54.33 billion during the quarter, compared to the consensus estimate of $44.26 billion. During the same quarter in the previous year, the firm earned $0.67 earnings per share. Marathon Petroleum’s revenue for the quarter was up 82.1% compared to the same quarter last year. Sell-side analysts anticipate that Marathon Petroleum Co. will post 20.54 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Wednesday, August 17th will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Tuesday, August 16th. Marathon Petroleum’s dividend payout ratio is presently 15.68%.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, VP Raymond L. Brooks sold 133,857 shares of Marathon Petroleum stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $96.82, for a total value of $12,960,034.74. Following the transaction, the vice president now owns 63,248 shares in the company, valued at $6,123,671.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.28% of the company’s stock.

About Marathon Petroleum

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Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. 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.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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