B. Riley Wealth Advisors Inc. trimmed its position in Marathon Petroleum Co. (NYSE:MPC – Get Rating) by 15.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,273 shares of the oil and gas company’s stock after selling 3,170 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Marathon Petroleum were worth $1,717,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of MPC. Ten Capital Wealth Advisors LLC acquired a new stake in shares of Marathon Petroleum in the third quarter valued at about $29,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Marathon Petroleum in the third quarter valued at about $32,000. MBM Wealth Consultants LLC grew its stake in shares of Marathon Petroleum by 41.3% in the third quarter. MBM Wealth Consultants LLC now owns 342 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 100 shares in the last quarter. Homestead Advisers Corp acquired a new stake in shares of Marathon Petroleum in the third quarter valued at about $35,000. Finally, Almanack Investment Partners LLC. acquired a new stake in shares of Marathon Petroleum in the third quarter valued at about $38,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the company. Piper Sandler lowered their price objective on Marathon Petroleum from $153.00 to $143.00 and set a “neutral” rating for the company in a research note on Monday, December 19th. Raymond James raised their price target on Marathon Petroleum from $155.00 to $165.00 and gave the stock a “strong-buy” rating in a report on Wednesday, February 1st. Mizuho raised Marathon Petroleum from a “neutral” rating to a “buy” rating and lifted their target price for the company from $133.00 to $160.00 in a research note on Friday, March 10th. UBS Group began coverage on Marathon Petroleum in a research note on Wednesday, March 8th. They set a “buy” rating and a $165.00 target price on the stock. Finally, StockNews.com began coverage on Marathon Petroleum in a research report on Thursday. They set a “strong-buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $138.63.
Marathon Petroleum Stock Performance
Marathon Petroleum (NYSE:MPC – Get Rating) last released its quarterly earnings data on Tuesday, January 31st. The oil and gas company reported $6.65 EPS for the quarter, beating analysts’ consensus estimates of $5.54 by $1.11. The business had revenue of $39.82 billion during the quarter, compared to analysts’ expectations of $35.29 billion. Marathon Petroleum had a net margin of 8.07% and a return on equity of 41.55%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.30 EPS. Equities research analysts forecast that Marathon Petroleum Co. will post 19.88 EPS for the current year.
Marathon Petroleum Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Thursday, February 16th were paid a $0.75 dividend. The ex-dividend date was Wednesday, February 15th. This represents a $3.00 annualized dividend and a yield of 2.43%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 10.49%.
Insider Activity at Marathon Petroleum
In other Marathon Petroleum news, Director Kim K.W. Rucker sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $130.00, for a total transaction of $780,000.00. Following the completion of the sale, the director now directly owns 34,950 shares in the company, valued at $4,543,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.28% of the stock is currently owned by company insiders.
Marathon Petroleum Company Profile
Marathon Petroleum Corp. is an independent company, which engages in the refining, marketing, and transportation of petroleum products in the United States. It operates through the following segments: Refining and Marketing, and Midstream. The Refining and Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals, and trucks that the company owns or operates.
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