Kingswood Wealth Advisors LLC Has $438,000 Stock Position in Marathon Petroleum Corporation $MPC

Key Points

• Kingswood Wealth Advisors LLC reduced its stake in Marathon Petroleum Corporation by 47.5%, owning 2,639 shares worth $438,000 after selling 2,385 shares in Q2.
• Marathon Petroleum reported earnings of $3.96 per share for the last quarter, exceeding estimates significantly, and noted a revenue of $34.10 billion, though this was down 11.1% year-over-year.
• The company declared a quarterly dividend of $0.91 per share, resulting in an annualized dividend yield of 1.9% and a payout ratio of 54.01%.

Kingswood Wealth Advisors LLC lowered its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 47.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,639 shares of the oil and gas company's stock after selling 2,385 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in Marathon Petroleum were worth $438,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MPC. Brighton Jones LLC increased its position in Marathon Petroleum by 30.9% during the fourth quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company's stock worth $696,000 after buying an additional 1,178 shares during the last quarter. Farther Finance Advisors LLC increased its position in Marathon Petroleum by 42.6% during the first quarter. Farther Finance Advisors LLC now owns 4,698 shares of the oil and gas company's stock worth $689,000 after buying an additional 1,403 shares during the last quarter. Wealthcare Advisory Partners LLC increased its position in Marathon Petroleum by 57.3% during the first quarter. Wealthcare Advisory Partners LLC now owns 6,183 shares of the oil and gas company's stock worth $901,000 after buying an additional 2,252 shares during the last quarter. GAMMA Investing LLC increased its position in Marathon Petroleum by 3.4% during the first quarter. GAMMA Investing LLC now owns 10,577 shares of the oil and gas company's stock worth $1,541,000 after buying an additional 351 shares during the last quarter. Finally, Simplicity Wealth LLC increased its position in Marathon Petroleum by 16.0% during the first quarter. Simplicity Wealth LLC now owns 3,213 shares of the oil and gas company's stock worth $468,000 after buying an additional 444 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company's stock.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $187.54 on Friday. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $201.61. The stock's 50 day moving average is $178.42 and its 200-day moving average is $163.28. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $57.02 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 3.17 and a beta of 0.90.

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 (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.74. The business had revenue of $34.10 billion during 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%.The firm's revenue for the quarter was down 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $4.12 earnings per share. Equities research analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

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. This represents a $3.64 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum's payout ratio is 54.01%.

Wall Street Analyst Weigh In

MPC has been the topic of a number of recent analyst reports. Piper Sandler boosted their price target on Marathon Petroleum from $184.00 to $222.00 and gave the stock a "neutral" rating in a research report on Thursday, September 11th. Scotiabank reissued an "outperform" rating on shares of Marathon Petroleum in a research report on Thursday. Mizuho boosted their price target on Marathon Petroleum from $184.00 to $188.00 and gave the stock a "neutral" rating in a research report on Monday, September 15th. BMO Capital Markets upped their target price on Marathon Petroleum from $195.00 to $208.00 and gave the company an "outperform" rating in a research report on Monday, September 22nd. Finally, Citigroup upped their target price on Marathon Petroleum from $144.00 to $182.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum currently has an average rating of "Moderate Buy" and an average target price of $198.92.

Insider Activity

In related news, insider Molly R. Benson sold 10,879 shares of the business's stock in a transaction that occurred on 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 sale, the insider directly owned 28,700 shares in the company, valued at approximately $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.21% of the company's stock.

Marathon Petroleum 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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