EverSource Wealth Advisors LLC Lowers Position in Marathon Petroleum Co. (NYSE:MPC)

EverSource Wealth Advisors LLC lessened its stake in Marathon Petroleum Co. (NYSE:MPCGet Rating) by 44.8% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 474 shares of the oil and gas company’s stock after selling 384 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Marathon Petroleum were worth $41,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Stratos Wealth Partners LTD. raised its stake in Marathon Petroleum by 3.6% during the first quarter. Stratos Wealth Partners LTD. now owns 23,843 shares of the oil and gas company’s stock valued at $2,039,000 after purchasing an additional 824 shares in the last quarter. FDx Advisors Inc. raised its stake in Marathon Petroleum by 39.7% during the first quarter. FDx Advisors Inc. now owns 4,505 shares of the oil and gas company’s stock valued at $385,000 after purchasing an additional 1,280 shares in the last quarter. Checchi Capital Advisers LLC raised its stake in Marathon Petroleum by 10.1% during the first quarter. Checchi Capital Advisers LLC now owns 8,815 shares of the oil and gas company’s stock valued at $754,000 after purchasing an additional 810 shares in the last quarter. Vanguard Capital Wealth Advisors bought a new position in Marathon Petroleum during the first quarter valued at $570,000. Finally, Stephens Inc. AR increased its position in Marathon Petroleum by 6.7% during the first quarter. Stephens Inc. AR now owns 17,377 shares of the oil and gas company’s stock valued at $1,486,000 after acquiring an additional 1,085 shares during the last quarter. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Analyst Upgrades and Downgrades

MPC has been the topic of a number of analyst reports. Wells Fargo & Company cut their price objective on shares of Marathon Petroleum from $129.00 to $117.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 3rd. Credit Suisse Group boosted their price objective on shares of Marathon Petroleum to $130.00 in a research report on Thursday, June 9th. Raymond James boosted their price objective on shares of Marathon Petroleum from $131.00 to $133.00 and gave the company a “strong-buy” rating in a research report on Friday, September 9th. Piper Sandler cut their price objective on shares of Marathon Petroleum from $111.00 to $110.00 and set a “neutral” rating on the stock in a research report on Monday, September 12th. Finally, Barclays upped their price target on shares of Marathon Petroleum from $94.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday, August 16th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $115.58.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, VP Carl Kristopher Hagedorn sold 14,353 shares of the stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $105.41, for a total transaction of $1,512,949.73. Following the completion of the sale, the vice president now directly owns 7,873 shares of the company’s stock, valued at $829,892.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.28% of the company’s stock.

Marathon Petroleum Stock Down 0.5 %

NYSE:MPC opened at $95.65 on Monday. Marathon Petroleum Co. has a 1-year low of $56.08 and a 1-year high of $114.35. The company has a 50-day moving average of $94.44 and a 200 day moving average of $91.11. The firm has a market cap of $47.69 billion, a PE ratio of 6.46, a price-to-earnings-growth ratio of 0.20 and a beta of 1.70. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.49 and a quick ratio of 1.10.

Marathon Petroleum (NYSE:MPCGet Rating) last released its quarterly earnings data on Tuesday, August 2nd. The oil and gas company reported $10.61 earnings per share for the quarter, topping analysts’ consensus estimates of $4.98 by $5.63. Marathon Petroleum had a net margin of 5.09% and a return on equity of 23.85%. The company had revenue of $54.33 billion during the quarter, compared to analyst estimates of $44.26 billion. During the same period in the prior year, the firm earned $0.67 earnings per share. The firm’s revenue for the quarter was up 82.1% compared to the same quarter last year. As a group, research analysts anticipate that Marathon Petroleum Co. will post 21.15 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Wednesday, August 17th were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.43%. The ex-dividend date was Tuesday, August 16th. Marathon Petroleum’s payout ratio is 15.68%.

Marathon Petroleum Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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