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.
Get Our Latest Stock Report on Marathon Petroleum
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
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Free Report)
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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