Wealthfront Advisers LLC trimmed its holdings in Marathon Petroleum Corp (NYSE:MPC) by 5.1% in the 1st quarter, HoldingsChannel reports. The fund owned 19,090 shares of the oil and gas company’s stock after selling 1,033 shares during the quarter. Wealthfront Advisers LLC’s holdings in Marathon Petroleum were worth $1,143,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Hanson McClain Inc. bought a new position in shares of Marathon Petroleum in the 4th quarter worth about $25,000. Alpha Omega Wealth Management LLC increased its stake in shares of Marathon Petroleum by 135.1% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 435 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 250 shares in the last quarter. Claybrook Capital LLC bought a new position in shares of Marathon Petroleum in the 4th quarter worth about $30,000. Bay Harbor Wealth Management LLC bought a new position in shares of Marathon Petroleum in the 1st quarter worth about $31,000. Finally, Berman Capital Advisors LLC bought a new position in shares of Marathon Petroleum in the 4th quarter worth about $30,000. Institutional investors own 77.57% of the company’s stock.
In related news, Director James E. Rohr purchased 12,500 shares of Marathon Petroleum stock in a transaction dated Tuesday, June 11th. The stock was purchased at an average cost of $48.14 per share, for a total transaction of $601,750.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donald C. Templin purchased 5,000 shares of Marathon Petroleum stock in a transaction dated Wednesday, May 15th. The stock was bought at an average price of $50.74 per share, with a total value of $253,700.00. Following the completion of the purchase, the insider now directly owns 93,182 shares of the company’s stock, valued at $4,728,054.68. The disclosure for this purchase can be found here. Insiders own 1.06% of the company’s stock.
MPC has been the subject of a number of analyst reports. Citigroup reduced their price objective on shares of Marathon Petroleum from $91.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Credit Suisse Group reduced their price objective on shares of Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, May 13th. Cowen restated an “outperform” rating and set a $90.00 price objective (down from $101.00) on shares of Marathon Petroleum in a research note on Monday, May 6th. Morgan Stanley reduced their price objective on shares of Marathon Petroleum from $82.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, May 17th. Finally, Wells Fargo & Co reduced their price objective on shares of Marathon Petroleum from $96.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $85.68.
NYSE:MPC traded down $0.18 on Friday, reaching $47.72. 139,808 shares of the stock traded hands, compared to its average volume of 7,527,128. The firm has a market cap of $31.60 billion, a P/E ratio of 7.04, a P/E/G ratio of 1.12 and a beta of 1.52. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.55 and a current ratio of 1.20. Marathon Petroleum Corp has a 12 month low of $45.47 and a 12 month high of $88.45.
Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.10). Marathon Petroleum had a return on equity of 11.10% and a net margin of 2.56%. The company had revenue of $28.62 billion during the quarter, compared to the consensus estimate of $27.70 billion. During the same quarter in the prior year, the firm earned $0.08 earnings per share. The business’s revenue was up 50.7% compared to the same quarter last year. On average, equities research analysts predict that Marathon Petroleum Corp will post 4.74 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 16th were paid a $0.53 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.44%. Marathon Petroleum’s dividend payout ratio is presently 31.27%.
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Marathon Petroleum Profile
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.
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