Allworth Financial LP Trims Holdings in Marathon Petroleum Corporation $MPC

Key Points

• Allworth Financial LP trimmed its stake in Marathon Petroleum by 21.4%, selling 4,613 shares and leaving it with 16,966 shares valued at about $3.27 million after the third quarter.
• Insider selling has picked up: director Ricky D. Hessling sold 1,810 shares at an average price of $224.78 (about $406,852), and insiders have sold a total of 4,473 shares (~$1.02 million) in the past 90 days, while insiders own just 0.21% of the stock.
• Operationally, Marathon posted quarterly EPS of $4.07 (beating estimates by $0.34) on revenue of $32.57 billion, and the company pays a quarterly dividend of $1.00 (annualized $4.00, ~1.7% yield; DPR ~29.96%).

Allworth Financial LP decreased its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 21.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 16,966 shares of the oil and gas company's stock after selling 4,613 shares during the period. Allworth Financial LP's holdings in Marathon Petroleum were worth $3,270,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Delos Wealth Advisors LLC purchased a new position in Marathon Petroleum during the second quarter valued at approximately $25,000. WFA of San Diego LLC purchased a new position in shares of Marathon Petroleum during the 2nd quarter valued at $33,000. Transce3nd LLC increased its holdings in shares of Marathon Petroleum by 10,250.0% in the second quarter. Transce3nd LLC now owns 207 shares of the oil and gas company's stock worth $34,000 after purchasing an additional 205 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Marathon Petroleum in the second quarter worth $38,000. Finally, IAG Wealth Partners LLC bought a new stake in Marathon Petroleum during the third quarter valued at $39,000. Institutional investors own 76.77% of the company's stock.

Insider Activity

In other Marathon Petroleum news, insider Ricky D. Hessling sold 1,810 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $224.78, for a total value of $406,851.80. Following the completion of the sale, the insider owned 10,188 shares in the company, valued at approximately $2,290,058.64. This trade represents a 15.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 4,473 shares of company stock valued at $1,015,428 in the last 90 days. 0.21% of the stock is currently owned by insiders.

Marathon Petroleum Stock Down 1.2%

MPC opened at $232.91 on Friday. The company has a market cap of $68.59 billion, a P/E ratio of 17.45, a P/E/G ratio of 1.39 and a beta of 0.69. The business's 50-day moving average price is $199.02 and its 200-day moving average price is $190.14. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 1.27. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $242.98.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share for the quarter, beating the consensus estimate of $3.73 by $0.34. Marathon Petroleum had a return on equity of 13.90% and a net margin of 2.99%.The company had revenue of $32.57 billion during the quarter, compared to analysts' expectations of $30.89 billion. During the same period in the prior year, the business posted $0.77 EPS. Marathon Petroleum's quarterly revenue was down .1% compared to the same quarter last year. On average, equities analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 18th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Wednesday, February 18th. Marathon Petroleum's dividend payout ratio (DPR) is 29.96%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Marathon Petroleum from $211.00 to $239.00 and gave the company a "buy" rating in a research note on Thursday, March 12th. Barclays dropped their price objective on shares of Marathon Petroleum from $202.00 to $194.00 and set an "overweight" rating for the company in a report on Tuesday, January 13th. Weiss Ratings downgraded Marathon Petroleum from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday. Raymond James Financial upped their price objective on Marathon Petroleum from $205.00 to $210.00 and gave the stock an "outperform" rating in a report on Friday, January 23rd. Finally, Wells Fargo & Company raised their price objective on Marathon Petroleum from $213.00 to $217.00 and gave the company an "overweight" rating in a report on Wednesday, February 4th. Ten analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Marathon Petroleum presently has a consensus rating of "Moderate Buy" and an average target price of $205.44.

About Marathon Petroleum

Marathon Petroleum Corporation NYSE: MPC is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum's operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.

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