Marathon Petroleum Corporation $MPC Holdings Trimmed by Ritholtz Wealth Management

Ritholtz Wealth Management trimmed its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 21.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,006 shares of the oil and gas company’s stock after selling 4,419 shares during the period. Ritholtz Wealth Management’s holdings in Marathon Petroleum were worth $2,659,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Baker Tilly Wealth Management LLC boosted its stake in shares of Marathon Petroleum by 2.8% during the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company’s stock valued at $370,000 after buying an additional 60 shares during the period. CHICAGO TRUST Co NA boosted its stake in shares of Marathon Petroleum by 3.9% during the 2nd quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company’s stock valued at $280,000 after buying an additional 63 shares during the period. Sunpointe LLC boosted its stake in shares of Marathon Petroleum by 4.1% during the 2nd quarter. Sunpointe LLC now owns 1,750 shares of the oil and gas company’s stock valued at $291,000 after buying an additional 69 shares during the period. Beverly Hills Private Wealth LLC lifted its stake in shares of Marathon Petroleum by 1.3% in the 1st quarter. Beverly Hills Private Wealth LLC now owns 6,739 shares of the oil and gas company’s stock valued at $982,000 after purchasing an additional 84 shares during the last quarter. Finally, Harbour Investments Inc. lifted its stake in shares of Marathon Petroleum by 1.8% in the 2nd quarter. Harbour Investments Inc. now owns 4,755 shares of the oil and gas company’s stock valued at $790,000 after purchasing an additional 85 shares during the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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 transaction of $1,773,277.00. Following the transaction, the insider owned 28,700 shares in the company, valued at approximately $4,678,100. The trade was a 27.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.21% of the company’s stock.

Marathon Petroleum Stock Up 0.5%

Marathon Petroleum stock opened at $184.09 on Thursday. The firm has a market cap of $55.97 billion, a price-to-earnings ratio of 27.31, a P/E/G ratio of 2.96 and a beta of 0.90. 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 Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $201.61. The firm has a fifty day moving average price of $179.75 and a two-hundred day moving average price of $164.26.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $0.74. The firm had revenue of $34.10 billion during the quarter, compared to analyst estimates of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The business’s revenue was down 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.12 EPS. As a group, analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were issued a dividend of $0.91 per share. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.0%. Marathon Petroleum’s payout ratio is presently 54.01%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MPC. UBS Group lifted their price objective on shares of Marathon Petroleum from $203.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Barclays lifted their price objective on shares of Marathon Petroleum from $176.00 to $194.00 and gave the company an “overweight” rating in a research note on Monday. Wolfe Research lowered shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 14th. Morgan Stanley lifted their price objective on shares of Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, October 3rd. Finally, Bank of America lifted their price objective on shares of Marathon Petroleum from $184.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, September 3rd. Eight analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $199.31.

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.