Gilliland Jeter Wealth Management LLC Decreases Stock Holdings in Marathon Petroleum Corporation (NYSE:MPC)

Gilliland Jeter Wealth Management LLC decreased its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 8.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,653 shares of the oil and gas company's stock after selling 2,056 shares during the period. Marathon Petroleum makes up about 1.2% of Gilliland Jeter Wealth Management LLC's holdings, making the stock its 18th biggest holding. Gilliland Jeter Wealth Management LLC's holdings in Marathon Petroleum were worth $3,446,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Greatmark Investment Partners Inc. boosted its position in Marathon Petroleum by 3.5% during the 4th quarter. Greatmark Investment Partners Inc. now owns 161,171 shares of the oil and gas company's stock valued at $22,483,000 after buying an additional 5,476 shares during the period. TCTC Holdings LLC boosted its position in Marathon Petroleum by 3.3% during the 4th quarter. TCTC Holdings LLC now owns 91,256 shares of the oil and gas company's stock valued at $12,730,000 after buying an additional 2,892 shares during the period. Cambridge Financial Group Inc. purchased a new stake in Marathon Petroleum during the 4th quarter valued at $5,624,000. Good Steward Wealth Advisors LLC purchased a new stake in Marathon Petroleum during the 1st quarter valued at $346,000. Finally, New Age Alpha Advisors LLC purchased a new stake in Marathon Petroleum during the 4th quarter valued at $1,192,000. Hedge funds and other institutional investors own 76.77% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MPC shares. Wall Street Zen raised shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Evercore ISI started coverage on shares of Marathon Petroleum in a research report on Wednesday, June 18th. They issued an "in-line" rating and a $170.00 target price for the company. Raymond James Financial reissued a "strong-buy" rating on shares of Marathon Petroleum in a research report on Monday, June 30th. Barclays lifted their price target on shares of Marathon Petroleum from $141.00 to $159.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. Finally, Mizuho lifted their price target on shares of Marathon Petroleum from $168.00 to $184.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Marathon Petroleum presently has a consensus rating of "Moderate Buy" and a consensus target price of $176.13.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The shares were 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 directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.21% of the stock is currently owned by insiders.

Marathon Petroleum Stock Performance

NYSE MPC traded down $0.41 during trading hours on Wednesday, hitting $179.52. 1,976,230 shares of the company's stock traded hands, compared to its average volume of 2,704,088. The business's fifty day moving average price is $162.09 and its two-hundred day moving average price is $149.26. 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 firm has a market capitalization of $55.15 billion, a P/E ratio of 25.25, a P/E/G ratio of 3.47 and a beta of 0.88. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $183.31.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.16. The company had revenue of $31.85 billion during the quarter, compared to analyst estimates of $28.91 billion. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The firm's quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.58 earnings per share. Equities research analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st were given a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.03%. Marathon Petroleum's payout ratio is currently 51.20%.

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.