Corient Private Wealth LLC Trims Holdings in Marathon Petroleum Corporation $MPC

Corient Private Wealth LLC reduced its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 4.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 145,582 shares of the oil and gas company’s stock after selling 6,075 shares during the quarter. Corient Private Wealth LLC’s holdings in Marathon Petroleum were worth $24,183,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Delos Wealth Advisors LLC purchased a new stake in Marathon Petroleum in the 2nd quarter valued at about $25,000. Activest Wealth Management raised its stake in shares of Marathon Petroleum by 290.2% during the second quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 119 shares in the last quarter. WPG Advisers LLC purchased a new stake in shares of Marathon Petroleum in the first quarter valued at approximately $32,000. NewSquare Capital LLC grew its stake in Marathon Petroleum by 103.1% in the second quarter. NewSquare Capital LLC now owns 199 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 101 shares in the last quarter. Finally, WFA of San Diego LLC purchased a new position in Marathon Petroleum during the 2nd quarter worth $33,000. 76.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on MPC shares. Evercore ISI increased their price target on Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a research report on Friday, September 19th. Wall Street Zen upgraded shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Mizuho set a $196.00 price target on shares of Marathon Petroleum in a report on Friday, December 12th. Raymond James Financial increased their price objective on shares of Marathon Petroleum from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Tuesday, November 25th. Finally, Piper Sandler boosted their price objective on shares of Marathon Petroleum from $220.00 to $231.00 and gave the stock a “neutral” rating in a research note on Friday, November 14th. Eight investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $203.79.

Marathon Petroleum Stock Down 1.5%

NYSE:MPC opened at $174.21 on Thursday. The company’s 50-day simple moving average is $190.31 and its 200-day simple moving average is $179.89. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.79 and a current ratio of 1.32. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $202.29. The stock has a market capitalization of $52.37 billion, a P/E ratio of 18.57, a P/E/G ratio of 0.91 and a beta of 0.72.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.01. The company had revenue of $34.81 billion during the quarter, compared to analysts’ expectations of $31.06 billion. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. On average, equities analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Wednesday, November 19th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s payout ratio is 42.64%.

Marathon Petroleum 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.