Williams Jones Wealth Management LLC. Cuts Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Williams Jones Wealth Management LLC. decreased its holdings in shares of Marathon Petroleum Co. (NYSE:MPCGet Rating) by 2.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,030 shares of the oil and gas company’s stock after selling 701 shares during the quarter. Williams Jones Wealth Management LLC.’s holdings in Marathon Petroleum were worth $2,653,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Herold Advisors Inc. purchased a new stake in shares of Marathon Petroleum during the first quarter worth approximately $26,000. Riverview Trust Co purchased a new stake in shares of Marathon Petroleum during the first quarter worth approximately $29,000. Dixon Hughes Goodman Wealth Advisors LLC increased its stake in shares of Marathon Petroleum by 138.5% during the first quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 353 shares of the oil and gas company’s stock worth $30,000 after buying an additional 205 shares during the period. Hazlett Burt & Watson Inc. purchased a new stake in shares of Marathon Petroleum during the first quarter worth approximately $30,000. Finally, DB Wealth Management Group LLC increased its stake in shares of Marathon Petroleum by 886.8% during the first quarter. DB Wealth Management Group LLC now owns 375 shares of the oil and gas company’s stock worth $32,000 after buying an additional 337 shares during the period. Institutional investors and hedge funds own 78.69% of the company’s stock.

Insider Buying and Selling

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

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $100.01 on Monday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.49 and a quick ratio of 1.10. The stock has a fifty day moving average price of $92.93 and a 200 day moving average price of $90.47. Marathon Petroleum Co. has a 1-year low of $56.08 and a 1-year high of $114.35. The company has a market cap of $49.87 billion, a PE ratio of 6.76, a P/E/G ratio of 0.21 and a beta of 1.70.

Marathon Petroleum (NYSE:MPCGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The oil and gas company reported $10.61 earnings per share for the quarter, topping the consensus estimate of $4.98 by $5.63. Marathon Petroleum had a return on equity of 23.85% and a net margin of 5.09%. The firm had revenue of $54.33 billion during the quarter, compared to the consensus estimate of $44.26 billion. During the same period last year, the company earned $0.67 earnings per share. The company’s revenue for the quarter was up 82.1% on a year-over-year basis. Sell-side analysts forecast that Marathon Petroleum Co. will post 21.11 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Wednesday, August 17th will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Tuesday, August 16th. Marathon Petroleum’s dividend payout ratio is presently 15.68%.

Analyst Ratings Changes

A number of analysts recently weighed in on MPC shares. Raymond James upped their target price on shares of Marathon Petroleum from $131.00 to $133.00 and gave the stock a “strong-buy” rating in a research note on Friday. Morgan Stanley increased their price target on shares of Marathon Petroleum from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, July 15th. Wells Fargo & Company dropped their price target on shares of Marathon Petroleum from $129.00 to $117.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 3rd. Royal Bank of Canada increased their price target on shares of Marathon Petroleum from $110.00 to $121.00 and gave the company an “outperform” rating in a research note on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Marathon Petroleum from $95.00 to $109.00 in a research note on Tuesday, May 17th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $115.67.

Marathon Petroleum Company Profile

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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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