Alpha Omega Wealth Management LLC Reduces Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Alpha Omega Wealth Management LLC reduced its stake in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 15.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,304 shares of the oil and gas company's stock after selling 8,950 shares during the quarter. Marathon Petroleum accounts for 1.4% of Alpha Omega Wealth Management LLC's portfolio, making the stock its 16th largest position. Alpha Omega Wealth Management LLC's holdings in Marathon Petroleum were worth $7,329,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in Marathon Petroleum by 30.9% during the 4th 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 in the last quarter. Kestra Private Wealth Services LLC lifted its position in Marathon Petroleum by 11.6% during the 4th quarter. Kestra Private Wealth Services LLC now owns 15,964 shares of the oil and gas company's stock worth $2,227,000 after buying an additional 1,654 shares in the last quarter. Savant Capital LLC lifted its position in Marathon Petroleum by 25.6% during the 4th quarter. Savant Capital LLC now owns 45,911 shares of the oil and gas company's stock worth $6,405,000 after buying an additional 9,371 shares in the last quarter. Ferguson Wellman Capital Management Inc. raised its holdings in shares of Marathon Petroleum by 3.0% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 4,461 shares of the oil and gas company's stock valued at $622,000 after purchasing an additional 129 shares during the period. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of Marathon Petroleum in the 4th quarter valued at about $64,000. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Stock Up 0.6%

Shares of NYSE:MPC traded up $0.92 during midday trading on Friday, hitting $165.99. 2,704,849 shares of the company's stock were exchanged, compared to its average volume of 2,688,754. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The stock has a 50 day moving average price of $147.49 and a 200-day moving average price of $146.38. The company has a market cap of $50.99 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 3.11 and a beta of 0.89. Marathon Petroleum Co. has a 12 month low of $115.10 and a 12 month high of $183.31.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.16. The company had revenue of $31.85 billion during the quarter, compared to the consensus estimate of $28.91 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The firm's revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.58 earnings per share. On average, sell-side analysts anticipate that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Wednesday, May 21st. Marathon Petroleum's dividend payout ratio (DPR) is presently 51.20%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MPC. Raymond James dropped their target price on shares of Marathon Petroleum from $193.00 to $183.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 9th. Piper Sandler dropped their target price on shares of Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. Scotiabank dropped their target price on shares of Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating on the stock in a report on Friday, April 11th. Wall Street Zen raised shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Wells Fargo & Company increased their price target on shares of Marathon Petroleum from $180.00 to $182.00 and gave the company an "overweight" rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $176.21.

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.