Resonant Capital Advisors LLC Sells 5,407 Shares of Marathon Petroleum Co. (NYSE:MPC)

Resonant Capital Advisors LLC trimmed its stake in Marathon Petroleum Co. (NYSE:MPC) by 21.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,823 shares of the oil and gas company’s stock after selling 5,407 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Marathon Petroleum were worth $2,941,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MPC. Bruce G. Allen Investments LLC acquired a new position in shares of Marathon Petroleum during the 4th quarter worth about $32,000. Tennessee Valley Asset Management Partners bought a new position in shares of Marathon Petroleum during the fourth quarter worth approximately $40,000. Mascoma Wealth Management LLC acquired a new stake in shares of Marathon Petroleum in the third quarter valued at approximately $43,000. Peoples Bank KS bought a new stake in shares of Marathon Petroleum during the 3rd quarter valued at $44,000. Finally, Exchange Traded Concepts LLC grew its stake in Marathon Petroleum by 811.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 319 shares of the oil and gas company’s stock worth $47,000 after buying an additional 284 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on MPC shares. Wells Fargo & Company upped their price objective on Marathon Petroleum from $214.00 to $227.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. The Goldman Sachs Group upped their target price on Marathon Petroleum from $175.00 to $211.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Bank of America lifted their price target on Marathon Petroleum from $185.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. JPMorgan Chase & Co. upped their price objective on Marathon Petroleum from $172.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Finally, TD Cowen lifted their target price on shares of Marathon Petroleum from $168.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $193.77.

Marathon Petroleum Trading Up 0.7 %

Marathon Petroleum stock traded up $1.38 during trading hours on Friday, reaching $196.40. 1,105,799 shares of the company’s stock were exchanged, compared to its average volume of 2,825,913. The firm has a market capitalization of $70.77 billion, a PE ratio of 8.35, a PEG ratio of 1.92 and a beta of 1.52. The firm’s 50 day simple moving average is $188.96 and its 200 day simple moving average is $164.59. Marathon Petroleum Co. has a twelve month low of $104.32 and a twelve month high of $221.11. The company has a quick ratio of 1.13, a current ratio of 1.59 and a debt-to-equity ratio of 0.83.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, January 30th. The oil and gas company reported $3.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $1.77. Marathon Petroleum had a net margin of 6.44% and a return on equity of 30.58%. The business had revenue of $36.26 billion during the quarter, compared to the consensus estimate of $34.90 billion. During the same period in the prior year, the firm posted $6.65 EPS. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. Research analysts predict that Marathon Petroleum Co. will post 17.57 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Wednesday, February 21st were paid a $0.825 dividend. The ex-dividend date was Tuesday, February 20th. This represents a $3.30 dividend on an annualized basis and a yield of 1.68%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 14.02%.

Insider Activity

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 1,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $170.35, for a total value of $170,350.00. Following the completion of the sale, the director now directly owns 23,446 shares of the company’s stock, valued at $3,994,026.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.21% of the company’s stock.

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.