Gilliland Jeter Wealth Management LLC Cuts Position in Marathon Petroleum Corporation $MPC

Gilliland Jeter Wealth Management LLC lowered its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 2.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 23,139 shares of the oil and gas company’s stock after selling 514 shares during the quarter. Marathon Petroleum comprises approximately 1.3% of Gilliland Jeter Wealth Management LLC’s investment portfolio, making the stock its 17th largest position. Gilliland Jeter Wealth Management LLC’s holdings in Marathon Petroleum were worth $3,844,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MPC. Brighton Jones LLC increased its position in shares of Marathon Petroleum by 30.9% during the fourth quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock valued at $696,000 after acquiring an additional 1,178 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Marathon Petroleum by 42.6% during the first quarter. Farther Finance Advisors LLC now owns 4,698 shares of the oil and gas company’s stock valued at $689,000 after acquiring an additional 1,403 shares in the last quarter. Wealthcare Advisory Partners LLC increased its position in shares of Marathon Petroleum by 57.3% during the first quarter. Wealthcare Advisory Partners LLC now owns 6,183 shares of the oil and gas company’s stock valued at $901,000 after acquiring an additional 2,252 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Marathon Petroleum by 3.4% during the first quarter. GAMMA Investing LLC now owns 10,577 shares of the oil and gas company’s stock valued at $1,541,000 after acquiring an additional 351 shares in the last quarter. Finally, Simplicity Wealth LLC increased its position in shares of Marathon Petroleum by 16.0% during the first quarter. Simplicity Wealth LLC now owns 3,213 shares of the oil and gas company’s stock valued at $468,000 after acquiring an additional 444 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MPC shares. Raymond James Financial raised their target price on shares of Marathon Petroleum from $195.00 to $199.00 and gave the stock an “outperform” rating in a report on Tuesday, September 9th. Morgan Stanley raised their target price on shares of Marathon Petroleum from $182.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, October 3rd. Evercore ISI raised their target price on shares of Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a report on Friday, September 19th. Piper Sandler raised their target price on shares of Marathon Petroleum from $184.00 to $222.00 and gave the stock a “neutral” rating in a report on Thursday, September 11th. Finally, Wells Fargo & Company raised their target price on shares of Marathon Petroleum from $182.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Eight investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $198.92.

Marathon Petroleum Stock Down 0.6%

Shares of MPC stock opened at $187.54 on Friday. The company has a market capitalization of $57.02 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 3.17 and a beta of 0.90. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $201.61. The company’s fifty day moving average price is $178.42 and its 200-day moving average price is $163.28. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.74. The company had revenue of $34.10 billion for the quarter, compared to the consensus estimate of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. Marathon Petroleum’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.12 EPS. Sell-side analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were issued a $0.91 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.9%. Marathon Petroleum’s payout ratio is 54.01%.

Insider Buying and Selling at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the sale, the insider directly owned 28,700 shares in the company, valued at $4,678,100. The trade was a 27.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by company insiders.

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.