Kingswood Wealth Advisors LLC Cuts Stake in Marathon Petroleum Co. (NYSE:MPC)

Kingswood Wealth Advisors LLC cut its stake in Marathon Petroleum Co. (NYSE:MPC) by 16.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,510 shares of the oil and gas company’s stock after selling 1,681 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Marathon Petroleum were worth $1,715,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MPC. First Financial Corp IN boosted its stake in shares of Marathon Petroleum by 2.5% in the first quarter. First Financial Corp IN now owns 2,429 shares of the oil and gas company’s stock worth $489,000 after acquiring an additional 59 shares during the last quarter. Wallace Advisory Group LLC boosted its stake in Marathon Petroleum by 6.8% during the 1st quarter. Wallace Advisory Group LLC now owns 2,623 shares of the oil and gas company’s stock worth $529,000 after purchasing an additional 167 shares during the last quarter. Riverview Trust Co purchased a new stake in shares of Marathon Petroleum during the first quarter worth $69,000. Nova R Wealth Inc. acquired a new stake in shares of Marathon Petroleum in the first quarter valued at about $240,000. Finally, Harbor Investment Advisory LLC lifted its stake in shares of Marathon Petroleum by 69.2% in the first quarter. Harbor Investment Advisory LLC now owns 4,842 shares of the oil and gas company’s stock worth $976,000 after buying an additional 1,980 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on MPC. Barclays cut their price objective on shares of Marathon Petroleum from $221.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, May 6th. Mizuho reduced their price objective on Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Scotiabank upped their target price on Marathon Petroleum from $175.00 to $207.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Tudor Pickering upgraded Marathon Petroleum to a “strong-buy” rating in a report on Thursday, May 30th. Finally, Piper Sandler dropped their price objective on shares of Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a report on Friday, June 14th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average price target of $192.08.

Marathon Petroleum Trading Up 0.7 %

Marathon Petroleum stock traded up $1.26 during trading on Tuesday, hitting $175.25. The company had a trading volume of 2,147,922 shares, compared to its average volume of 2,739,118. The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. The company’s 50 day simple moving average is $180.17 and its 200-day simple moving average is $175.35. Marathon Petroleum Co. has a 1-year low of $111.27 and a 1-year high of $221.11. The stock has a market cap of $61.75 billion, a price-to-earnings ratio of 8.75, a price-to-earnings-growth ratio of 1.54 and a beta of 1.45.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.25. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The firm had revenue of $32.71 billion for the quarter, compared to the consensus estimate of $32.07 billion. During the same quarter in the previous year, the business earned $6.09 EPS. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. As a group, analysts expect that Marathon Petroleum Co. will post 18.65 EPS for the current fiscal year.

Marathon Petroleum declared that its board has initiated a share buyback plan on Tuesday, April 30th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 16.48%.

About Marathon Petroleum

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.