MAI Capital Management decreased its holdings in Marathon Petroleum Co. (NYSE:MPC – Get Rating) by 2.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,891 shares of the oil and gas company's stock after selling 287 shares during the quarter. MAI Capital Management's holdings in Marathon Petroleum were worth $978,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Herold Advisors Inc. bought a new stake in shares of Marathon Petroleum in the first quarter worth $26,000. Riverview Trust Co bought a new stake in shares of Marathon Petroleum in the first quarter worth $29,000. Hazlett Burt & Watson Inc. bought a new stake in shares of Marathon Petroleum in the first quarter worth $30,000. Dixon Hughes Goodman Wealth Advisors LLC grew its stake in shares of Marathon Petroleum by 138.5% in the first quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 353 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 205 shares during the last quarter. Finally, DB Wealth Management Group LLC grew its stake in shares of Marathon Petroleum by 886.8% in the first quarter. DB Wealth Management Group LLC now owns 375 shares of the oil and gas company's stock worth $32,000 after purchasing an additional 337 shares during the last quarter. Institutional investors own 78.69% of the company's stock.
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Marathon Petroleum Price Performance
Shares of NYSE MPC opened at $98.70 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.10 and a debt-to-equity ratio of 0.79. Marathon Petroleum Co. has a 1-year low of $59.55 and a 1-year high of $114.35. The firm has a market capitalization of $49.21 billion, a P/E ratio of 6.67, a P/E/G ratio of 0.19 and a beta of 1.70. The firm's 50-day moving average price is $96.34 and its 200-day moving average price is $92.16.
Marathon Petroleum (NYSE:MPC – Get Rating) last posted its earnings results on Tuesday, August 2nd. The oil and gas company reported $10.61 earnings per share for the quarter, topping analysts' consensus estimates of $4.98 by $5.63. Marathon Petroleum had a net
margin of 5.09% and a return on equity of 23.85%. The company had revenue of $54.33 billion for the quarter, compared to analyst estimates of $44.26 billion. During the same quarter in the prior year, the business posted $0.67 EPS. The firm's revenue was up 82.1% compared to the same quarter last year. Equities research analysts anticipate that Marathon Petroleum Co. will post 21.77 earnings per share for the current fiscal year.
Marathon Petroleum Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Wednesday, August 17th were issued a $0.58 dividend. The ex-dividend date was Tuesday, August 16th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.35%. Marathon Petroleum's dividend payout ratio is presently 15.68%.
Analysts Set New Price Targets
MPC has been the topic of several analyst reports. Royal Bank of Canada boosted their price objective on shares of Marathon Petroleum from $110.00 to $121.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 3rd. StockNews.com raised shares of Marathon Petroleum from a "buy" rating to a "strong-buy" rating in a research report on Sunday, September 11th. Morgan Stanley upped their price target on shares of Marathon Petroleum from $115.00 to $120.00 and gave the company an "overweight" rating in a research report on Friday, July 15th. Wells Fargo & Company cut their price target on shares of Marathon Petroleum from $117.00 to $116.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 21st. Finally, Piper Sandler cut their price target on shares of Marathon Petroleum from $111.00 to $110.00 and set a "neutral" rating on the stock in a research report on Monday, September 12th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $116.54.
Insider Buying and Selling
In related news, SVP Suzanne Gagle sold 35,174 shares of the company's stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $93.57, for a total value of $3,291,231.18. Following the sale, the senior vice president now owns 43,996 shares in the company, valued at approximately $4,116,705.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Marathon Petroleum news, SVP Suzanne Gagle sold 35,174 shares of the stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $93.57, for a total value of $3,291,231.18. Following the completion of the sale, the senior vice president now owns 43,996 shares in the company, valued at approximately $4,116,705.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Carl Kristopher Hagedorn sold 14,353 shares of the stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $105.41, for a total transaction of $1,512,949.73. Following the completion of the sale, the vice president now owns 7,873 shares of the company's stock, valued at approximately $829,892.93. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by company insiders.
Marathon Petroleum Company Profile
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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.
Further Reading
- Get a free copy of the StockNews.com research report on Marathon Petroleum (MPC)
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