Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Bar Harbor Wealth Management

Bar Harbor Wealth Management trimmed its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 30.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,317 shares of the oil and gas company’s stock after selling 1,469 shares during the period. Bar Harbor Wealth Management’s holdings in Marathon Petroleum were worth $483,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of MPC. Wellington Management Group LLP lifted its stake in Marathon Petroleum by 78.1% during the 4th quarter. Wellington Management Group LLP now owns 9,961,503 shares of the oil and gas company’s stock valued at $1,389,630,000 after acquiring an additional 4,367,774 shares during the period. Demars Financial Group LLC increased its holdings in shares of Marathon Petroleum by 16,338.3% during the 4th quarter. Demars Financial Group LLC now owns 4,177,133 shares of the oil and gas company’s stock valued at $582,710,000 after purchasing an additional 4,151,722 shares in the last quarter. Norges Bank purchased a new position in shares of Marathon Petroleum during the 4th quarter valued at approximately $453,427,000. GAMMA Investing LLC increased its holdings in shares of Marathon Petroleum by 14,969.1% during the 1st quarter. GAMMA Investing LLC now owns 1,540,963 shares of the oil and gas company’s stock valued at $224,503,000 after purchasing an additional 1,530,737 shares in the last quarter. Finally, Boston Partners increased its holdings in shares of Marathon Petroleum by 37.4% during the 4th quarter. Boston Partners now owns 3,436,704 shares of the oil and gas company’s stock valued at $480,501,000 after purchasing an additional 935,042 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MPC has been the subject of a number of research analyst reports. Scotiabank reduced their price objective on shares of Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating for the company in a research report on Friday, April 11th. Morgan Stanley reduced their price objective on shares of Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Piper Sandler reduced their price objective on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Wells Fargo & Company upped their price objective on shares of Marathon Petroleum from $180.00 to $182.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Raymond James reduced their price objective on shares of Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $176.21.

Marathon Petroleum Trading Up 0.6%

NYSE MPC opened at $165.99 on Friday. The firm’s 50-day moving average is $147.49 and its two-hundred day moving average is $146.44. Marathon Petroleum Co. has a 12 month low of $115.10 and a 12 month high of $183.31. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The stock has a market capitalization of $50.99 billion, a P/E ratio of 16.72, a PEG ratio of 3.11 and a beta of 0.89.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The company had revenue of $31.85 billion for the quarter, compared to analysts’ expectations of $28.91 billion. During the same quarter in the prior year, the company posted $2.58 earnings per share. Marathon Petroleum’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $3.64 annualized dividend and a dividend yield of 2.19%. Marathon Petroleum’s dividend payout ratio is presently 51.20%.

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.