Marathon Petroleum Corporation $MPC Shares Sold by Centric Wealth Management

Key Points

• Centric Wealth Management has reduced its stake in Marathon Petroleum Corporation by 15.8%, owning 14,462 shares valued at approximately $2.1 million as of the latest SEC filing.
• Marathon Petroleum's stock had strong recent performance, with a reported $3.96 EPS for the last quarter, surpassing analyst expectations of $3.22.
• The company announced a quarterly dividend of $0.91 per share, translating to an annualized yield of 2.0%, with a payout ratio of 54.01%.

Centric Wealth Management lowered its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 15.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,462 shares of the oil and gas company's stock after selling 2,704 shares during the period. Centric Wealth Management's holdings in Marathon Petroleum were worth $2,107,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fourth Dimension Wealth LLC purchased a new stake in shares of Marathon Petroleum during the 4th quarter valued at $26,000. CBIZ Investment Advisory Services LLC grew its position in Marathon Petroleum by 1,546.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company's stock worth $31,000 after purchasing an additional 201 shares during the period. Hughes Financial Services LLC acquired a new stake in Marathon Petroleum during the 1st quarter worth about $32,000. WPG Advisers LLC acquired a new stake in shares of Marathon Petroleum during the 1st quarter valued at about $32,000. Finally, Decker Retirement Planning Inc. grew its position in shares of Marathon Petroleum by 1,621.4% during the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock valued at $35,000 after acquiring an additional 227 shares during the period. Hedge funds and other institutional investors own 76.77% of the company's stock.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC traded down $1.21 on Wednesday, reaching $178.94. The company's stock had a trading volume of 1,751,294 shares, compared to its average volume of 2,595,321. The stock's 50-day moving average is $171.00 and its two-hundred day moving average is $155.73. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $183.50. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. The stock has a market capitalization of $54.40 billion, a P/E ratio of 26.55, a PEG ratio of 3.27 and a beta of 0.97.

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

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.0%. The ex-dividend date is Wednesday, August 20th. Marathon Petroleum's dividend payout ratio is presently 54.01%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Raymond James Financial reaffirmed an "outperform" rating and issued a $200.00 price target (up from $180.00) on shares of Marathon Petroleum in a research note on Tuesday, July 15th. UBS Group raised their target price on shares of Marathon Petroleum from $175.00 to $203.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Citigroup lifted their price target on shares of Marathon Petroleum from $144.00 to $182.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Evercore ISI assumed coverage on shares of Marathon Petroleum in a research report on Wednesday, June 18th. They set an "in-line" rating and a $170.00 price target on the stock. Finally, Wall Street Zen upgraded shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $186.57.

Insider Activity at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of the 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 sale, the insider directly owned 28,700 shares in the company, valued at $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kim K.W. Rucker sold 7,392 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the completion of the sale, the director owned 18,944 shares in the company, valued at $3,315,200. This represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

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.