Financial Partners Group LLC Decreases Stock Position in Marathon Petroleum Corporation $MPC

Key Points

• Financial Partners Group LLC reduced its stake in Marathon Petroleum Corporation by 39.1% in the second quarter, holding 2,396 shares valued at approximately $398,000.
• Institutional investors own 76.77% of Marathon Petroleum's stock, with multiple firms recently adjusting their stakes.
• Marathon Petroleum announced a quarterly dividend of $0.91 per share, representing an annualized yield of 1.8%.

Financial Partners Group LLC cut its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 39.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,396 shares of the oil and gas company's stock after selling 1,541 shares during the period. Financial Partners Group LLC's holdings in Marathon Petroleum were worth $398,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MPC. Baker Tilly Wealth Management LLC lifted its stake in Marathon Petroleum by 2.8% in the second quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company's stock valued at $370,000 after buying an additional 60 shares during the last quarter. CHICAGO TRUST Co NA lifted its stake in Marathon Petroleum by 3.9% in the second quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company's stock valued at $280,000 after buying an additional 63 shares during the last quarter. Sunpointe LLC increased its holdings in shares of Marathon Petroleum by 4.1% during the second quarter. Sunpointe LLC now owns 1,750 shares of the oil and gas company's stock valued at $291,000 after purchasing an additional 69 shares during the period. Beverly Hills Private Wealth LLC increased its holdings in shares of Marathon Petroleum by 1.3% during the first quarter. Beverly Hills Private Wealth LLC now owns 6,739 shares of the oil and gas company's stock valued at $982,000 after purchasing an additional 84 shares during the period. Finally, Valmark Advisers Inc. increased its holdings in shares of Marathon Petroleum by 2.3% during the first quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company's stock valued at $554,000 after purchasing an additional 86 shares during the period. Institutional investors and hedge funds own 76.77% of the company's stock.

Insider Transactions at Marathon Petroleum

In related news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total value of $1,293,600.00. Following the transaction, the director owned 18,944 shares of the company's stock, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the transaction, the insider directly owned 28,700 shares in the company, valued at $4,678,100. This represents a 27.49% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

Analyst Ratings Changes

MPC has been the topic of a number of research analyst reports. TD Cowen lowered their price target on Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Wells Fargo & Company raised their price target on Marathon Petroleum from $182.00 to $205.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Morgan Stanley raised their price target on Marathon Petroleum from $160.00 to $182.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Bank of America raised their price target on Marathon Petroleum from $184.00 to $192.00 and gave the company a "neutral" rating in a report on Wednesday, September 3rd. Finally, Piper Sandler lifted their target price on Marathon Petroleum from $184.00 to $222.00 and gave the stock a "neutral" rating in a report on Thursday, September 11th. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $195.00.

Marathon Petroleum Price Performance

Shares of Marathon Petroleum stock opened at $198.85 on Friday. The company's 50-day moving average price is $175.09 and its two-hundred day moving average price is $160.53. The stock has a market cap of $60.45 billion, a PE ratio of 29.50, a price-to-earnings-growth ratio of 3.44 and a beta of 0.97. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $201.61. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, topping analysts' consensus estimates of $3.22 by $0.74. The firm had revenue of $34.10 billion for the quarter, compared to analysts' expectations of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.Marathon Petroleum's revenue was down 11.1% on a year-over-year basis. During the same quarter last year, the business posted $4.12 EPS. As a group, sell-side analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were paid a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a yield of 1.8%. Marathon Petroleum's dividend payout ratio (DPR) is currently 54.01%.

Marathon Petroleum Company 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.

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