Marathon Petroleum Co. (NYSE:MPC) Shares Sold by EP Wealth Advisors LLC

EP Wealth Advisors LLC lessened its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 10.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,360 shares of the oil and gas company’s stock after selling 1,719 shares during the quarter. EP Wealth Advisors LLC’s holdings in Marathon Petroleum were worth $2,279,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of MPC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Marathon Petroleum in the 4th quarter valued at about $25,000. Bruce G. Allen Investments LLC acquired a new stake in Marathon Petroleum during the 4th quarter valued at approximately $32,000. Bare Financial Services Inc purchased a new stake in Marathon Petroleum during the 4th quarter worth approximately $32,000. Manchester Capital Management LLC increased its holdings in Marathon Petroleum by 97.2% during the 4th quarter. Manchester Capital Management LLC now owns 215 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 106 shares during the last quarter. Finally, Pittenger & Anderson Inc. acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of MPC traded down $0.44 during mid-day trading on Friday, reaching $170.07. 2,933,965 shares of the company’s stock traded hands, compared to its average volume of 2,418,018. Marathon Petroleum Co. has a 12 month low of $108.88 and a 12 month high of $221.11. The stock has a market capitalization of $59.92 billion, a P/E ratio of 8.50, a price-to-earnings-growth ratio of 1.47 and a beta of 1.45. The business’s 50-day moving average price is $185.37 and its 200-day moving average price is $173.88. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 1.43.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.25. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The firm had revenue of $32.71 billion during the quarter, compared to analyst estimates of $32.07 billion. During the same quarter in the prior year, the firm posted $6.09 EPS. Marathon Petroleum’s revenue was down 6.2% compared to the same quarter last year. Equities analysts predict that Marathon Petroleum Co. will post 19.3 earnings per share for the current year.

Marathon Petroleum announced that its Board of Directors has approved a stock repurchase program on Tuesday, April 30th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 7.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were issued a dividend of $0.825 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $3.30 annualized dividend and a yield of 1.94%. Marathon Petroleum’s payout ratio is 16.48%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MPC. The Goldman Sachs Group lifted their price target on shares of Marathon Petroleum from $175.00 to $211.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Wells Fargo & Company cut their target price on shares of Marathon Petroleum from $227.00 to $223.00 and set an “overweight” rating on the stock in a research note on Thursday, June 6th. Piper Sandler decreased their price target on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a research note on Friday. Tudor Pickering upgraded Marathon Petroleum to a “strong-buy” rating in a research note on Thursday, May 30th. Finally, Mizuho increased their target price on shares of Marathon Petroleum from $200.00 to $203.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $192.23.

Marathon Petroleum Company 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.