AE Wealth Management LLC Decreases Stock Position in Marathon Petroleum Corporation (NYSE:MPC)

Key Points

• AE Wealth Management LLC reduced its stake in Marathon Petroleum Corporation by 50.7% in the first quarter, owning 12,152 shares worth approximately $1.77 million after selling 12,520 shares.
• Marathon Petroleum recently reported earnings of ($0.24) per share, exceeding analyst estimates, with revenue of $31.85 billion for the quarter.
• The company declared a quarterly dividend of $0.91 per share, reflecting an annualized yield of 2.12% and a payout ratio of 51.20%.

AE Wealth Management LLC cut its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 50.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,152 shares of the oil and gas company's stock after selling 12,520 shares during the quarter. AE Wealth Management LLC's holdings in Marathon Petroleum were worth $1,770,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Wakefield Asset Management LLLP purchased a new stake in shares of Marathon Petroleum during the first quarter valued at $205,000. Convergence Investment Partners LLC boosted its holdings in shares of Marathon Petroleum by 217.1% during the 1st quarter. Convergence Investment Partners LLC now owns 6,165 shares of the oil and gas company's stock valued at $898,000 after acquiring an additional 4,221 shares during the last quarter. WESPAC Advisors SoCal LLC bought a new stake in shares of Marathon Petroleum in the first quarter worth approximately $248,000. City National Bank of Florida MSD raised its holdings in shares of Marathon Petroleum by 16.0% during the first quarter. City National Bank of Florida MSD now owns 3,213 shares of the oil and gas company's stock valued at $468,000 after purchasing an additional 444 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of Marathon Petroleum by 7.4% during the first quarter. Venturi Wealth Management LLC now owns 2,344 shares of the oil and gas company's stock valued at $341,000 after purchasing an additional 161 shares during the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Performance

MPC opened at $171.64 on Friday. The firm has a market cap of $52.73 billion, a P/E ratio of 24.14, a PEG ratio of 2.93 and a beta of 0.88. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $183.31. The company has a 50 day simple moving average of $167.65 and a two-hundred day simple moving average of $152.42. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 0.73.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.40) by $0.16. The business had revenue of $31.85 billion during the quarter, compared to analyst estimates of $28.91 billion. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. Marathon Petroleum's revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.58 EPS. Equities analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were issued a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a yield of 2.12%. Marathon Petroleum's dividend payout ratio is presently 51.20%.

Insiders Place Their Bets

In other news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the sale, the director owned 18,944 shares in the company, valued at $3,315,200. This trade represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.21% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MPC. Citigroup raised their target price on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Raymond James Financial reaffirmed an "outperform" rating and issued a $200.00 price objective (up previously from $180.00) on shares of Marathon Petroleum in a report on Tuesday, July 15th. Morgan Stanley increased their target price on Marathon Petroleum from $160.00 to $182.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. TD Cowen raised their target price on Marathon Petroleum from $152.00 to $163.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Finally, Wolfe Research lowered shares of Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $183.93.

About Marathon Petroleum

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.

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