1900 Wealth Management LLC Cuts Holdings in Marathon Petroleum Co. (NYSE:MPC)

1900 Wealth Management LLC decreased its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,456 shares of the oil and gas company’s stock after selling 80 shares during the period. 1900 Wealth Management LLC’s holdings in Marathon Petroleum were worth $364,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MPC. Bruce G. Allen Investments LLC purchased a new position in shares of Marathon Petroleum during the fourth quarter valued at about $32,000. Tennessee Valley Asset Management Partners purchased a new position in shares of Marathon Petroleum during the fourth quarter valued at about $40,000. Peoples Bank KS purchased a new position in Marathon Petroleum in the third quarter worth about $44,000. Exchange Traded Concepts LLC grew its position in Marathon Petroleum by 811.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 319 shares of the oil and gas company’s stock worth $47,000 after acquiring an additional 284 shares in the last quarter. Finally, PFS Partners LLC purchased a new position in Marathon Petroleum in the fourth quarter worth about $78,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 0.3 %

Shares of NYSE MPC traded down $0.67 during mid-day trading on Tuesday, reaching $197.58. The company had a trading volume of 424,435 shares, compared to its average volume of 2,785,523. The company has a current ratio of 1.59, a quick ratio of 1.13 and a debt-to-equity ratio of 0.83. The firm has a 50 day simple moving average of $190.08 and a two-hundred day simple moving average of $165.60. The stock has a market cap of $71.20 billion, a P/E ratio of 8.43, a PEG ratio of 1.69 and a beta of 1.52. Marathon Petroleum Co. has a 52-week low of $104.32 and a 52-week high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, January 30th. The oil and gas company reported $3.98 earnings per share for the quarter, beating the consensus estimate of $2.21 by $1.77. The business had revenue of $36.26 billion for the quarter, compared to the consensus estimate of $34.90 billion. Marathon Petroleum had a net margin of 6.44% and a return on equity of 30.58%. The business’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.65 earnings per share. Sell-side analysts predict that Marathon Petroleum Co. will post 19.42 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Wednesday, February 21st were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.67%. The ex-dividend date was Tuesday, February 20th. Marathon Petroleum’s payout ratio is 14.02%.

Analyst Ratings Changes

Several research analysts recently commented on MPC shares. Wells Fargo & Company lifted their price target on Marathon Petroleum from $214.00 to $227.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Scotiabank lifted 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. The Goldman Sachs Group lifted their price target on Marathon Petroleum from $175.00 to $211.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Raymond James lifted their price target on Marathon Petroleum from $175.00 to $185.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 31st. Finally, Mizuho raised their price objective on shares of Marathon Petroleum from $201.00 to $202.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $193.77.

Insider Activity

In other news, Director Kim K.W. Rucker sold 1,000 shares of Marathon Petroleum stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $170.35, for a total value of $170,350.00. Following the sale, the director now owns 23,446 shares of the company’s stock, valued at $3,994,026.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.21% of the company’s stock.

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.