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

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

Other large investors also recently bought and sold shares of the company. Westwood Holdings Group Inc. acquired a new position in shares of Marathon Petroleum during the 2nd quarter worth approximately $611,000. Thrivent Financial for Lutherans lifted its position in Marathon Petroleum by 3.8% during the second quarter. Thrivent Financial for Lutherans now owns 453,501 shares of the oil and gas company’s stock worth $78,673,000 after buying an additional 16,778 shares in the last quarter. Sei Investments Co. boosted its stake in Marathon Petroleum by 4.8% during the second quarter. Sei Investments Co. now owns 159,384 shares of the oil and gas company’s stock worth $27,649,000 after buying an additional 7,245 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Marathon Petroleum by 8.5% in the 2nd quarter. Pacer Advisors Inc. now owns 2,669,815 shares of the oil and gas company’s stock worth $463,160,000 after acquiring an additional 209,270 shares during the last quarter. Finally, AE Wealth Management LLC boosted its position in shares of Marathon Petroleum by 184.9% during the 2nd quarter. AE Wealth Management LLC now owns 27,206 shares of the oil and gas company’s stock valued at $4,720,000 after acquiring an additional 17,657 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $164.34 on Friday. The firm has a 50 day moving average of $169.99 and a two-hundred day moving average of $179.77. The stock has a market capitalization of $57.90 billion, a PE ratio of 8.21, a P/E/G ratio of 2.09 and a beta of 1.38. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. Marathon Petroleum Co. has a 52 week low of $139.32 and a 52 week high of $221.11.

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 firm had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. During the same period last year, the business posted $5.32 earnings per share. Marathon Petroleum’s revenue was up 4.2% compared to the same quarter last year. On average, research analysts predict that Marathon Petroleum Co. will post 12.68 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were issued a $0.825 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.30 annualized dividend and a yield of 2.01%. Marathon Petroleum’s dividend payout ratio (DPR) is 16.48%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Scotiabank dropped their price target on shares of Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. JPMorgan Chase & Co. cut their target price on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. TD Cowen increased their price target on Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Jefferies Financial Group boosted their price objective on shares of Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Mizuho lowered their target price on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock 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.