Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Buckley Wealth Management LLC

Buckley Wealth Management LLC lowered its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 7.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,060 shares of the oil and gas company’s stock after selling 1,145 shares during the quarter. Marathon Petroleum makes up approximately 1.0% of Buckley Wealth Management LLC’s holdings, making the stock its 23rd biggest holding. Buckley Wealth Management LLC’s holdings in Marathon Petroleum were worth $3,035,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. NBC Securities Inc. boosted its position in Marathon Petroleum by 0.9% during the first quarter. NBC Securities Inc. now owns 6,333 shares of the oil and gas company’s stock worth $1,276,000 after acquiring an additional 55 shares during the last quarter. Bruce G. Allen Investments LLC boosted its position in Marathon Petroleum by 27.3% during the first quarter. Bruce G. Allen Investments LLC now owns 275 shares of the oil and gas company’s stock worth $55,000 after acquiring an additional 59 shares during the last quarter. First Financial Corp IN boosted its position in Marathon Petroleum by 2.5% during 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. Marino Stram & Associates LLC boosted its position in Marathon Petroleum by 0.5% during the fourth quarter. Marino Stram & Associates LLC now owns 11,424 shares of the oil and gas company’s stock worth $1,695,000 after acquiring an additional 60 shares during the last quarter. Finally, SteelPeak Wealth LLC boosted its position in Marathon Petroleum by 0.3% during the fourth quarter. SteelPeak Wealth LLC now owns 20,408 shares of the oil and gas company’s stock worth $3,028,000 after acquiring an additional 67 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Shares of NYSE MPC traded down $0.31 during mid-day trading on Friday, reaching $172.60. 656,400 shares of the company traded hands, compared to its average volume of 2,704,808. Marathon Petroleum Co. has a fifty-two week low of $112.82 and a fifty-two week high of $221.11. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 0.99. The firm has a market cap of $60.81 billion, a PE ratio of 8.64, a price-to-earnings-growth ratio of 1.63 and a beta of 1.45. The stock has a fifty day simple moving average of $179.61 and a 200-day simple moving average of $175.35.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.25. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The business had revenue of $32.71 billion for the quarter, compared to analyst estimates of $32.07 billion. During the same quarter last year, the business earned $6.09 earnings per share. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. Equities research analysts anticipate that Marathon Petroleum Co. will post 17.85 EPS for the current fiscal year.

Marathon Petroleum declared that its board has authorized a stock repurchase program on Tuesday, April 30th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to repurchase up to 7.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were given a $0.825 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $3.30 annualized dividend and a yield of 1.91%. Marathon Petroleum’s dividend payout ratio (DPR) is 16.48%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MPC shares. Piper Sandler cut their price target on shares of Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a research note on Friday, June 14th. JPMorgan Chase & Co. increased their price target on shares of Marathon Petroleum from $172.00 to $186.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. StockNews.com downgraded shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Scotiabank raised their target price on shares of Marathon Petroleum from $175.00 to $207.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Finally, Wells Fargo & Company cut their target price on shares of Marathon Petroleum from $227.00 to $223.00 and set an “overweight” rating on the stock in a research note on Thursday, June 6th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $192.08.

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.