Cetera Advisor Networks LLC Reduces Stake in Marathon Petroleum Co. (NYSE:MPC)

Cetera Advisor Networks LLC reduced its position in Marathon Petroleum Co. (NYSE:MPCFree Report) by 8.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 56,328 shares of the oil and gas company’s stock after selling 5,459 shares during the period. Cetera Advisor Networks LLC’s holdings in Marathon Petroleum were worth $8,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Marino Stram & Associates LLC boosted its stake in shares of Marathon Petroleum by 0.5% in the 4th quarter. Marino Stram & Associates LLC now owns 11,424 shares of the oil and gas company’s stock worth $1,695,000 after buying an additional 60 shares during the last quarter. SteelPeak Wealth LLC boosted its stake in shares of Marathon Petroleum by 0.3% in the 4th quarter. SteelPeak Wealth LLC now owns 20,408 shares of the oil and gas company’s stock worth $3,028,000 after buying an additional 67 shares during the last quarter. Aaron Wealth Advisors LLC raised its holdings in Marathon Petroleum by 4.5% in the 4th quarter. Aaron Wealth Advisors LLC now owns 1,559 shares of the oil and gas company’s stock worth $231,000 after purchasing an additional 67 shares during the period. Mission Wealth Management LP raised its holdings in Marathon Petroleum by 0.8% in the 4th quarter. Mission Wealth Management LP now owns 8,756 shares of the oil and gas company’s stock worth $1,299,000 after purchasing an additional 67 shares during the period. Finally, Pine Valley Investments Ltd Liability Co raised its holdings in Marathon Petroleum by 1.9% in the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 4,102 shares of the oil and gas company’s stock worth $609,000 after purchasing an additional 75 shares during the period. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MPC has been the topic of a number of recent research reports. Wells Fargo & Company decreased their target price on Marathon Petroleum from $227.00 to $223.00 and set an “overweight” rating on the stock in a report on Thursday. Bank of America increased their price objective on shares of Marathon Petroleum from $185.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Tudor Pickering raised shares of Marathon Petroleum to a “strong-buy” rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. boosted their target price on shares of Marathon Petroleum from $172.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Finally, Piper Sandler reduced their target price on shares of Marathon Petroleum from $204.00 to $190.00 and set a “neutral” rating on the stock in a report on Tuesday, May 14th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.92.

View Our Latest Analysis on Marathon Petroleum

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $175.08 on Friday. The stock has a market cap of $61.69 billion, a price-to-earnings ratio of 8.75, a price-to-earnings-growth ratio of 1.52 and a beta of 1.45. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 0.99. Marathon Petroleum Co. has a 1 year low of $108.88 and a 1 year high of $221.11. The firm has a 50-day moving average of $189.53 and a two-hundred day moving average of $172.93.

Marathon Petroleum (NYSE:MPCGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.25. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The company had revenue of $32.71 billion during the quarter, compared to analysts’ expectations of $32.07 billion. During the same period in the previous year, the company earned $6.09 EPS. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. On average, research analysts forecast that Marathon Petroleum Co. will post 19.3 earnings per share for the current year.

Marathon Petroleum announced that its Board of Directors has authorized a stock repurchase program on Tuesday, April 30th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the oil and gas company to buy up to 7.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be given a $0.825 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $3.30 annualized dividend and a dividend yield of 1.88%. Marathon Petroleum’s payout ratio is presently 16.48%.

About Marathon Petroleum

(Free Report)

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.

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

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