Allworth Financial LP Lowers Position in Marathon Petroleum Corporation $MPC

Allworth Financial LP trimmed its position in Marathon Petroleum Corporation (NYSE:MPC) by 21.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,966 shares of the oil and gas company’s stock after selling 4,613 shares during the period. Allworth Financial LP’s holdings in Marathon Petroleum were worth $3,270,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Delos Wealth Advisors LLC bought a new stake in shares of Marathon Petroleum during the 2nd quarter valued at $25,000. WFA of San Diego LLC purchased a new position in Marathon Petroleum during the 2nd quarter valued at about $33,000. Transce3nd LLC boosted its stake in Marathon Petroleum by 10,250.0% during the second quarter. Transce3nd LLC now owns 207 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 205 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of Marathon Petroleum during the second quarter valued at approximately $38,000. Finally, IAG Wealth Partners LLC purchased a new position in shares of Marathon Petroleum during the third quarter valued at approximately $39,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Buying and Selling at Marathon Petroleum

In other news, insider Ricky D. Hessling sold 1,810 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $224.78, for a total value of $406,851.80. Following the transaction, the insider directly owned 10,188 shares in the company, valued at $2,290,058.64. This trade represents a 15.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders sold 4,473 shares of company stock worth $1,015,428. 0.21% of the stock is owned by corporate insiders.

Marathon Petroleum Price Performance

NYSE MPC opened at $232.91 on Friday. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $242.98. The stock has a 50-day moving average of $199.02 and a 200 day moving average of $190.14. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.26. The company has a market capitalization of $68.59 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.39 and a beta of 0.69.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.73 by $0.34. The business had revenue of $32.57 billion for the quarter, compared to analysts’ expectations of $30.89 billion. Marathon Petroleum had a net margin of 2.99% and a return on equity of 13.90%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 EPS. On average, sell-side analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 18th were paid a dividend of $1.00 per share. The ex-dividend date was Wednesday, February 18th. This represents a $4.00 dividend on an annualized basis and a yield of 1.7%. Marathon Petroleum’s payout ratio is currently 29.96%.

Wall Street Analyst Weigh In

MPC has been the topic of a number of recent research reports. Scotiabank reissued an “outperform” rating and issued a $174.00 target price on shares of Marathon Petroleum in a research note on Friday, January 16th. JPMorgan Chase & Co. lowered their price target on Marathon Petroleum from $211.00 to $179.00 and set a “neutral” rating for the company in a research report on Tuesday, January 13th. BMO Capital Markets upped their price target on shares of Marathon Petroleum from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 3rd. UBS Group reissued a “buy” rating and set a $221.00 price objective on shares of Marathon Petroleum in a research report on Friday, February 6th. Finally, The Goldman Sachs Group raised their price objective on shares of Marathon Petroleum from $211.00 to $239.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. Ten research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $205.44.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.