Prudent Man Advisors LLC Trims Position in Marathon Petroleum Corporation $MPC

Prudent Man Advisors LLC lessened its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 56.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,755 shares of the oil and gas company’s stock after selling 2,301 shares during the quarter. Prudent Man Advisors LLC’s holdings in Marathon Petroleum were worth $292,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Silver Oak Securities Incorporated purchased a new position in Marathon Petroleum during the 1st quarter valued at about $339,000. Jump Financial LLC grew its holdings in Marathon Petroleum by 128.0% during the 1st quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company’s stock valued at $1,262,000 after buying an additional 4,863 shares in the last quarter. Weatherly Asset Management L. P. purchased a new position in Marathon Petroleum during the 1st quarter valued at about $216,000. Journey Strategic Wealth LLC grew its holdings in Marathon Petroleum by 105.0% during the 1st quarter. Journey Strategic Wealth LLC now owns 8,582 shares of the oil and gas company’s stock valued at $1,250,000 after buying an additional 4,396 shares in the last quarter. Finally, FSM Wealth Advisors LLC purchased a new position in Marathon Petroleum during the 2nd quarter valued at about $685,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

MPC has been the subject of a number of recent analyst reports. BMO Capital Markets lifted their target price on Marathon Petroleum from $195.00 to $208.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Mizuho boosted their price objective on Marathon Petroleum from $184.00 to $188.00 and gave the stock a “neutral” rating in a report on Monday, September 15th. Raymond James Financial reissued an “outperform” rating and set a $203.00 price objective (up previously from $199.00) on shares of Marathon Petroleum in a report on Friday, October 17th. Evercore ISI boosted their price objective on Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a report on Friday, September 19th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Marathon Petroleum in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $200.31.

Marathon Petroleum Stock Up 0.1%

Shares of MPC opened at $196.17 on Friday. The firm has a market cap of $59.64 billion, a P/E ratio of 29.10, a P/E/G ratio of 4.11 and a beta of 0.90. The stock has a 50 day simple moving average of $183.52 and a two-hundred day simple moving average of $167.25. 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 1 year low of $115.10 and a 1 year high of $201.61.

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

Marathon Petroleum Announces Dividend

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

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the sale, the insider owned 28,700 shares of the company’s stock, valued at $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is currently owned by corporate 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.