Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Carson Advisory Inc.

Carson Advisory Inc. decreased its position in shares of Marathon Petroleum Co. (NYSE:MPCFree Report) by 27.0% in the first quarter, HoldingsChannel reports. The firm owned 1,267 shares of the oil and gas company’s stock after selling 468 shares during the quarter. Carson Advisory Inc.’s holdings in Marathon Petroleum were worth $255,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Catalina Capital Group LLC lifted its holdings in Marathon Petroleum by 41.6% in the first quarter. Catalina Capital Group LLC now owns 3,218 shares of the oil and gas company’s stock valued at $648,000 after acquiring an additional 945 shares during the period. Avidian Wealth Solutions LLC increased its position in shares of Marathon Petroleum by 1.2% in the first quarter. Avidian Wealth Solutions LLC now owns 7,816 shares of the oil and gas company’s stock valued at $1,575,000 after buying an additional 96 shares in the last quarter. Mediolanum International Funds Ltd purchased a new stake in shares of Marathon Petroleum in the first quarter valued at approximately $8,828,000. RIA Advisory Group LLC purchased a new stake in shares of Marathon Petroleum in the first quarter valued at approximately $3,871,000. Finally, Larson Financial Group LLC increased its position in shares of Marathon Petroleum by 82.8% in the first quarter. Larson Financial Group LLC now owns 3,889 shares of the oil and gas company’s stock valued at $784,000 after buying an additional 1,761 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Trading Down 0.4 %

Shares of Marathon Petroleum stock traded down $0.72 during trading hours on Wednesday, hitting $162.20. The company’s stock had a trading volume of 2,457,468 shares, compared to its average volume of 2,699,837. Marathon Petroleum Co. has a twelve month low of $117.28 and a twelve month high of $221.11. The firm has a fifty day moving average of $174.83 and a 200-day moving average of $176.83. The stock has a market cap of $57.15 billion, a price-to-earnings ratio of 8.10, a P/E/G ratio of 1.65 and a beta of 1.40. 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:MPCGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.53 by $0.25. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The business had revenue of $32.71 billion for the quarter, compared to analyst estimates of $32.07 billion. During the same quarter in the prior year, the company posted $6.09 EPS. The company’s quarterly revenue was down 6.2% on a year-over-year basis. Research analysts forecast that Marathon Petroleum Co. will post 16.9 EPS for the current year.

Marathon Petroleum declared that its board has initiated a stock buyback program on Tuesday, April 30th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to reacquire up to 7.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 16th were paid a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Analysts Set New Price Targets

MPC has been the subject of a number of recent analyst reports. Wells Fargo & Company cut their price objective on Marathon Petroleum from $227.00 to $223.00 and set an “overweight” rating for the company in a research report on Thursday, June 6th. StockNews.com cut Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. JPMorgan Chase & Co. cut their price objective on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Raymond James dropped their price target on Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating for the company in a research report on Thursday, May 30th. Finally, Scotiabank boosted their price target on Marathon Petroleum from $175.00 to $207.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Six research 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. Based on data from MarketBeat, Marathon Petroleum has an average rating of “Moderate Buy” and a consensus target price of $191.31.

Check Out Our Latest Analysis on MPC

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.

Recommended Stories

Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Co. (NYSE:MPCFree Report).

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

Receive News & Ratings for Marathon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.