Creative Planning Sells 3,594 Shares of Marathon Petroleum Co. (NYSE:MPC)

Creative Planning lessened its holdings in Marathon Petroleum Co. (NYSE:MPC) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 156,085 shares of the oil and gas company’s stock after selling 3,594 shares during the quarter. Creative Planning’s holdings in Marathon Petroleum were worth $27,078,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Scarborough Advisors LLC grew its holdings 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 acquiring an additional 210 shares during the period. Global Assets Advisory LLC bought a new stake in Marathon Petroleum in the first quarter valued at about $36,823,000. Founders Financial Securities LLC lifted its stake in Marathon Petroleum by 22.8% in the second quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock valued at $863,000 after buying an additional 924 shares during the period. Fidelis Capital Partners LLC grew its position in shares of 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 buying an additional 94 shares during the period. Finally, LRI Investments LLC bought a new stake in shares of Marathon Petroleum in the 1st quarter valued at about $97,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 0.1 %

Marathon Petroleum stock opened at $163.65 on Monday. The company has a fifty day simple moving average of $169.70 and a 200 day simple moving average of $179.17. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86. Marathon Petroleum Co. has a 1-year low of $139.32 and a 1-year high of $221.11. The company has a market cap of $57.66 billion, a P/E ratio of 8.17, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The business had revenue of $38.36 billion for the quarter, compared to the consensus estimate of $36.66 billion. During the same quarter in the previous year, the business earned $5.32 earnings per share. Marathon Petroleum’s quarterly revenue was up 4.2% on a year-over-year basis. Research analysts anticipate that Marathon Petroleum Co. will post 10.56 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

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

Analyst Ratings Changes

MPC has been the subject of a number of analyst reports. Piper Sandler decreased their price objective on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Wells Fargo & Company lowered their price objective on shares of Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Scotiabank reduced their target price on Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Tudor Pickering downgraded Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 9th. Finally, JPMorgan Chase & Co. cut their price objective on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $197.69.

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.