Gilliland Jeter Wealth Management LLC Sells 2,056 Shares of Marathon Petroleum Corporation (NYSE:MPC)

Gilliland Jeter Wealth Management LLC reduced its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 8.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,653 shares of the oil and gas company's stock after selling 2,056 shares during the quarter. Marathon Petroleum accounts for about 1.2% of Gilliland Jeter Wealth Management LLC's investment portfolio, making the stock its 18th largest position. Gilliland Jeter Wealth Management LLC's holdings in Marathon Petroleum were worth $3,446,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MPC. Fourth Dimension Wealth LLC purchased a new position in Marathon Petroleum in the fourth quarter worth $26,000. Decker Retirement Planning Inc. lifted its stake in Marathon Petroleum by 1,621.4% during the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock worth $35,000 after purchasing an additional 227 shares during the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Marathon Petroleum in the 1st quarter worth about $35,000. OFI Invest Asset Management bought a new position in shares of Marathon Petroleum during the 4th quarter valued at about $44,000. Finally, Capital A Wealth Management LLC purchased a new position in shares of Marathon Petroleum during the 4th quarter valued at about $52,000. Hedge funds and other institutional investors own 76.77% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MPC shares. Wells Fargo & Company upped their target price on Marathon Petroleum from $180.00 to $182.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. Raymond James Financial reiterated a "strong-buy" rating on shares of Marathon Petroleum in a research report on Monday, June 30th. Morgan Stanley lowered their price target on shares of Marathon Petroleum from $175.00 to $160.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Evercore ISI initiated coverage on Marathon Petroleum in a research note on Wednesday, June 18th. They set an "in-line" rating and a $170.00 price objective on the stock. Finally, Barclays boosted their target price on Marathon Petroleum from $141.00 to $159.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $176.13.

Marathon Petroleum Trading Up 0.2%

NYSE MPC traded up $0.39 during trading on Monday, hitting $176.44. The company had a trading volume of 1,692,260 shares, compared to its average volume of 2,708,906. The company's fifty day moving average is $159.64 and its 200-day moving average is $148.53. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $183.31. The company has a current ratio of 1.19, a quick ratio of 0.73 and a debt-to-equity ratio of 1.16. The company has a market cap of $54.20 billion, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 3.46 and a beta of 0.88.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 1.75% and a return on equity of 8.89%. Marathon Petroleum's revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.58 earnings per share. On average, sell-side analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date was Wednesday, May 21st. Marathon Petroleum's payout ratio is presently 51.20%.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total value of $1,293,600.00. Following the completion of the transaction, the director owned 18,944 shares in the company, valued at approximately $3,315,200. This represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is owned by corporate 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.