Arkadios Wealth Advisors lowered its stake in Marathon Petroleum Co. (NYSE:MPC – Get Rating) by 12.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,622 shares of the oil and gas company’s stock after selling 933 shares during the period. Arkadios Wealth Advisors’ holdings in Marathon Petroleum were worth $544,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Herold Advisors Inc. acquired a new position in shares of Marathon Petroleum in the first quarter valued at approximately $26,000. Riverview Trust Co acquired a new position in Marathon Petroleum during the first quarter worth $29,000. Dixon Hughes Goodman Wealth Advisors LLC grew its holdings in Marathon Petroleum by 138.5% during the first quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 353 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 205 shares during the period. Hazlett Burt & Watson Inc. acquired a new position in Marathon Petroleum during the first quarter worth $30,000. Finally, DB Wealth Management Group LLC grew its holdings in Marathon Petroleum by 886.8% during the first quarter. DB Wealth Management Group LLC now owns 375 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 337 shares during the period. Institutional investors and hedge funds own 78.69% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently weighed in on MPC shares. Credit Suisse Group upped their price objective on Marathon Petroleum to $130.00 in a report on Thursday, June 9th. StockNews.com raised Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Sunday, September 11th. Barclays upped their price objective on Marathon Petroleum from $94.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday, August 16th. Morgan Stanley boosted their target price on Marathon Petroleum from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, July 15th. Finally, Raymond James boosted their target price on Marathon Petroleum from $131.00 to $133.00 and gave the stock a “strong-buy” rating in a research report on Friday, September 9th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $116.54.
Marathon Petroleum Stock Down 4.7 %
MPC opened at $91.45 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.49 and a debt-to-equity ratio of 0.79. The firm has a market cap of $45.60 billion, a P/E ratio of 6.18, a PEG ratio of 0.19 and a beta of 1.70. Marathon Petroleum Co. has a 52 week low of $59.55 and a 52 week high of $114.35. The business’s fifty day simple moving average is $95.68 and its 200 day simple moving average is $91.77.
Marathon Petroleum (NYSE:MPC – Get Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The oil and gas company reported $10.61 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $5.63. The business had revenue of $54.33 billion for the quarter, compared to analyst estimates of $44.26 billion. Marathon Petroleum had a return on equity of 23.85% and a net margin of 5.09%. The business’s revenue for the quarter was up 82.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 earnings per share. As a group, equities research analysts anticipate that Marathon Petroleum Co. will post 21.76 EPS for the current fiscal year.
Marathon Petroleum Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Wednesday, August 17th were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend was Tuesday, August 16th. Marathon Petroleum’s payout ratio is 15.68%.
Insiders Place Their Bets
In other Marathon Petroleum news, VP Carl Kristopher Hagedorn sold 14,353 shares of the firm’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $105.41, for a total value of $1,512,949.73. Following the sale, the vice president now directly owns 7,873 shares of the company’s stock, valued at approximately $829,892.93. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Marathon Petroleum news, VP Carl Kristopher Hagedorn sold 14,353 shares of the firm’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $105.41, for a total value of $1,512,949.73. Following the sale, the vice president now directly owns 7,873 shares of the company’s stock, valued at approximately $829,892.93. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Suzanne Gagle sold 35,174 shares of the firm’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $93.57, for a total value of $3,291,231.18. Following the completion of the sale, the senior vice president now directly owns 43,996 shares in the company, valued at $4,116,705.72. The disclosure for this sale can be found here. 0.28% of the stock is owned by corporate insiders.
Marathon Petroleum Profile
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Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. 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.
See Also
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