Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lowered its holdings in Marathon Petroleum Co. (NYSE:MPC) by 5.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,696 shares of the oil and gas company’s stock after selling 4,579 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Marathon Petroleum were worth $17,469,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. NBC Securities Inc. grew its holdings in 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 valued at $1,276,000 after purchasing an additional 55 shares in the last quarter. Bruce G. Allen Investments LLC lifted its position in shares of Marathon Petroleum by 27.3% during 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 holdings 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 buying an additional 59 shares during the last quarter. Marino Stram & Associates LLC raised its stake in Marathon Petroleum by 0.5% during the fourth quarter. Marino Stram & Associates LLC now owns 11,424 shares of the oil and gas company’s stock valued at $1,695,000 after buying an additional 60 shares in the last quarter. Finally, SteelPeak Wealth LLC lifted its holdings in Marathon Petroleum by 0.3% during the 4th quarter. SteelPeak Wealth LLC now owns 20,408 shares of the oil and gas company’s stock worth $3,028,000 after buying an additional 67 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on MPC. The Goldman Sachs Group increased their target price on Marathon Petroleum from $175.00 to $211.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Mizuho reduced their target price on Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Piper Sandler reduced their target price on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a report on Friday, June 14th. Bank of America increased their target price on Marathon Petroleum from $185.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Finally, Tudor Pickering raised Marathon Petroleum to a “strong-buy” rating in a report on Thursday, May 30th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $192.08.

Marathon Petroleum Stock Up 0.3 %

MPC opened at $173.40 on Friday. Marathon Petroleum Co. has a 12 month low of $112.82 and a 12 month high of $221.11. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 0.99. The stock has a market cap of $61.09 billion, a P/E ratio of 8.66, a P/E/G ratio of 1.61 and a beta of 1.45. The stock’s 50 day moving average price is $178.71 and its 200 day moving average price is $175.53.

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, beating 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 firm had revenue of $32.71 billion for the quarter, compared to analysts’ expectations of $32.07 billion. During the same period last year, the firm earned $6.09 EPS. The firm’s revenue was down 6.2% compared to the same quarter last year. As a group, research analysts predict that Marathon Petroleum Co. will post 17.85 earnings per share for the current year.

Marathon Petroleum declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, April 30th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to purchase up to 7.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Marathon Petroleum Announces Dividend

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

Marathon Petroleum 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.