Marathon Petroleum Corporation $MPC Holdings Cut by Ritholtz Wealth Management

Key Points

• Ritholtz Wealth Management reduced its holdings in Marathon Petroleum Corporation by 21.6% in Q2, owning 16,006 shares valued at approximately $2.66 million after selling 4,419 shares.
• The company reported $3.96 EPS in its last quarterly results, exceeding the consensus estimate of $3.22, and had a revenue of $34.10 billion, surpassing analyst forecasts.
• Marathon Petroleum declared a quarterly dividend of $0.91 per share, representing a yield of 2.0% with a payout ratio of 54.01%.

Ritholtz Wealth Management lowered its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 21.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,006 shares of the oil and gas company's stock after selling 4,419 shares during the period. Ritholtz Wealth Management's holdings in Marathon Petroleum were worth $2,659,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Good Steward Wealth Advisors LLC bought a new stake in shares of Marathon Petroleum during the first quarter valued at approximately $346,000. Silver Oak Securities Incorporated bought a new stake in shares of Marathon Petroleum during the first quarter valued at approximately $339,000. Financial Partners Group LLC raised its holdings in shares of Marathon Petroleum by 65.8% during the first quarter. Financial Partners Group LLC now owns 3,937 shares of the oil and gas company's stock valued at $574,000 after buying an additional 1,563 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Marathon Petroleum by 8.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 44,387 shares of the oil and gas company's stock valued at $6,467,000 after buying an additional 3,291 shares during the last quarter. Finally, Jump Financial LLC raised its holdings in shares of Marathon Petroleum by 128.0% during the first quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company's stock valued at $1,262,000 after buying an additional 4,863 shares during the last quarter. Institutional investors own 76.77% of the company's stock.

Marathon Petroleum Trading Up 0.5%

Marathon Petroleum stock opened at $184.09 on Thursday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. The firm has a market cap of $55.97 billion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 2.96 and a beta of 0.90. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $201.61. The firm's 50 day moving average price is $179.75 and its two-hundred day moving average price is $164.26.

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

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were given a $0.91 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 2.0%. Marathon Petroleum's payout ratio is 54.01%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Mizuho lifted their price target on Marathon Petroleum from $184.00 to $188.00 and gave the company a "neutral" rating in a report on Monday, September 15th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Marathon Petroleum in a report on Wednesday, October 8th. Citigroup raised their price objective on shares of Marathon Petroleum from $144.00 to $182.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. BMO Capital Markets raised their price objective on shares of Marathon Petroleum from $195.00 to $208.00 and gave the company an "outperform" rating in a research note on Monday, September 22nd. Finally, Piper Sandler raised their price objective on shares of Marathon Petroleum from $184.00 to $222.00 and gave the company a "neutral" rating in a research note on Thursday, September 11th. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $199.31.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the transaction, the insider 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.21% of the company's stock.

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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