Integrated Wealth Concepts LLC Trims Stake in Marathon Petroleum Corporation $MPC

Key Points

• Integrated Wealth Concepts LLC reduced its holdings in Marathon Petroleum by 20.1% this quarter, owning 12,462 shares valued at $1,816,000 following the sale of 3,142 shares.
• Marathon Petroleum announced a quarterly dividend of $0.91 per share, representing a 2.0% yield with a payout ratio of 54.01%.
• Despite an 11.1% year-over-year decline in revenue, Marathon Petroleum beat earnings expectations with an EPS of $3.96 compared to a consensus estimate of $3.22.

Integrated Wealth Concepts LLC trimmed its position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 20.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,462 shares of the oil and gas company's stock after selling 3,142 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Marathon Petroleum were worth $1,816,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Marathon Petroleum by 12.3% during the 1st quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company's stock valued at $5,090,611,000 after acquiring an additional 3,834,501 shares in the last quarter. Wellington Management Group LLP boosted its position in Marathon Petroleum by 18.7% during the 1st quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company's stock valued at $1,722,664,000 after acquiring an additional 1,862,674 shares in the last quarter. Raymond James Financial Inc. boosted its position in Marathon Petroleum by 6.3% during the 1st quarter. Raymond James Financial Inc. now owns 6,037,532 shares of the oil and gas company's stock valued at $879,608,000 after acquiring an additional 355,215 shares in the last quarter. Boston Partners boosted its position in Marathon Petroleum by 58.5% during the 1st quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company's stock valued at $791,274,000 after acquiring an additional 2,011,810 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Marathon Petroleum by 3.7% during the 1st quarter. Bank of New York Mellon Corp now owns 4,982,348 shares of the oil and gas company's stock valued at $725,878,000 after acquiring an additional 178,397 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Stock Down 1.2%

MPC stock traded down $2.13 during midday trading on Friday, hitting $180.18. The company's stock had a trading volume of 1,500,292 shares, compared to its average volume of 1,733,300. The company has a market cap of $54.78 billion, a PE ratio of 26.73, a P/E/G ratio of 3.68 and a beta of 0.97. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $186.28. 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 firm's 50-day moving average is $172.81 and its 200-day moving average is $157.21.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings data 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 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%.The firm's quarterly revenue was down 11.1% on a year-over-year basis. During the same period in the prior year, the firm posted $4.12 EPS. On average, equities research analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

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

Analyst Upgrades and Downgrades

MPC has been the topic of a number of analyst reports. Wells Fargo & Company boosted their price target on Marathon Petroleum from $182.00 to $205.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Barclays boosted their price target on Marathon Petroleum from $159.00 to $189.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Evercore ISI initiated coverage on Marathon Petroleum in a research report on Wednesday, June 18th. They issued an "in-line" rating and a $170.00 price target on the stock. Bank of America boosted their price target on Marathon Petroleum from $184.00 to $192.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 3rd. Finally, Raymond James Financial boosted their price target on Marathon Petroleum from $195.00 to $199.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 9th. Eight equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, Marathon Petroleum has an average rating of "Moderate Buy" and a consensus target price of $189.36.

Insiders Place Their Bets

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the business's stock in a transaction 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 directly owned 18,944 shares in the company, valued at approximately $3,315,200. The trade was a 28.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Molly R. Benson sold 10,879 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the sale, the insider owned 28,700 shares of the company's stock, valued at approximately $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

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.