Money Concepts Capital Corp cut its stake in shares of Marathon Petroleum Co. (NYSE:MPC – Get Rating) by 90.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 325 shares of the oil and gas company's stock after selling 3,110 shares during the quarter. Money Concepts Capital Corp's holdings in Marathon Petroleum were worth $27,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in MPC. Stratos Wealth Partners LTD. raised its holdings in shares of Marathon Petroleum by 3.6% in the first quarter. Stratos Wealth Partners LTD. now owns 23,843 shares of the oil and gas company's stock valued at $2,039,000 after buying an additional 824 shares during the last quarter. FDx Advisors Inc. raised its holdings in shares of Marathon Petroleum by 39.7% in the first quarter. FDx Advisors Inc. now owns 4,505 shares of the oil and gas company's stock valued at $385,000 after buying an additional 1,280 shares during the last quarter. Checchi Capital Advisers LLC raised its holdings in shares of Marathon Petroleum by 10.1% in the first quarter. Checchi Capital Advisers LLC now owns 8,815 shares of the oil and gas company's stock valued at $754,000 after buying an additional 810 shares during the last quarter. Vanguard Capital Wealth Advisors bought a new position in shares of Marathon Petroleum in the first quarter valued at about $570,000. Finally, Stephens Inc. AR raised its holdings in shares of Marathon Petroleum by 6.7% in the first quarter. Stephens Inc. AR now owns 17,377 shares of the oil and gas company's stock valued at $1,486,000 after buying an additional 1,085 shares during the last quarter. 78.69% of the stock is owned by institutional investors.
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Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the company. Raymond James lifted their price target on Marathon Petroleum from $131.00 to $133.00 and gave the company a "strong-buy" rating in a report on Friday, September 9th. Credit Suisse Group boosted their price objective on Marathon Petroleum to $130.00 in a report on Thursday, June 9th. Wells Fargo & Company dropped their price objective on Marathon Petroleum from $117.00 to $116.00 and set an "overweight" rating for the company in a report on Wednesday, September 21st. Barclays boosted their price objective on Marathon Petroleum from $94.00 to $112.00 and gave the stock an "overweight" rating in a report on Tuesday, August 16th. Finally, Morgan Stanley boosted their price objective on Marathon Petroleum from $115.00 to $120.00 and gave the stock an "overweight" rating in a report on Friday, July 15th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Marathon Petroleum presently has an average rating of "Buy" and an average target price of $116.54.
Insider Activity at Marathon Petroleum
In related news, SVP Suzanne Gagle sold 35,174 shares of the business's stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $93.57, for a total value of $3,291,231.18. Following the completion of the transaction, the senior vice president now directly owns 43,996 shares in the company, valued at approximately $4,116,705.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through
the SEC website. In other news, VP Carl Kristopher Hagedorn sold 14,353 shares of the firm's stock in a transaction that occurred on 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 transaction, the vice president now directly owns 7,873 shares of the company's stock, valued at approximately $829,892.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through
this hyperlink. Also, SVP Suzanne Gagle sold 35,174 shares of the firm's stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $93.57, for a total transaction of $3,291,231.18. Following the transaction, the senior vice president now directly owns 43,996 shares of the company's stock, valued at $4,116,705.72. The disclosure for this sale can be found
here. 0.28% of the stock is owned by insiders.
Marathon Petroleum Price Performance
Shares of MPC opened at $102.79 on Tuesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.10 and a current ratio of 1.49. The stock has a 50 day simple moving average of $96.89 and a 200 day simple moving average of $92.74. Marathon Petroleum Co. has a 52-week low of $59.55 and a 52-week high of $114.35. The firm has a market capitalization of $51.25 billion, a PE ratio of 6.95, a P/E/G ratio of 0.20 and a beta of 1.60.
Marathon Petroleum (NYSE:MPC – Get Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The oil and gas company reported $10.61 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $44.26 billion. During the same period in the previous year, the firm earned $0.67 EPS. Marathon Petroleum's quarterly revenue was up 82.1% compared to the same quarter last year. Sell-side analysts predict that Marathon Petroleum Co. will post 21.77 EPS for the current fiscal year.
Marathon Petroleum Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Wednesday, August 17th were given a $0.58 dividend. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $2.32 annualized dividend and a dividend yield of 2.26%. Marathon Petroleum's dividend payout ratio is presently 15.68%.
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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