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

ForthRight Wealth Management LLC decreased its holdings in Marathon Petroleum Co. (NYSE:MPC) by 3.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,782 shares of the oil and gas company’s stock after selling 377 shares during the period. Marathon Petroleum makes up approximately 0.7% of ForthRight Wealth Management LLC’s investment portfolio, making the stock its 25th largest position. ForthRight Wealth Management LLC’s holdings in Marathon Petroleum were worth $1,870,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Sitrin Capital Management LLC increased its position in Marathon Petroleum by 0.6% during the second quarter. Sitrin Capital Management LLC now owns 31,788 shares of the oil and gas company’s stock worth $5,515,000 after purchasing an additional 198 shares during the last quarter. Thrive Wealth Management LLC purchased a new position in Marathon Petroleum in the second quarter worth approximately $206,000. Country Trust Bank increased its stake in Marathon Petroleum by 94.4% during the second quarter. Country Trust Bank now owns 14,213 shares of the oil and gas company’s stock worth $2,466,000 after acquiring an additional 6,900 shares during the last quarter. Gateway Investment Advisers LLC raised its position in Marathon Petroleum by 17.1% in the second quarter. Gateway Investment Advisers LLC now owns 38,670 shares of the oil and gas company’s stock valued at $6,708,000 after purchasing an additional 5,654 shares during the period. Finally, Atlas Private Wealth Advisors purchased a new position in shares of Marathon Petroleum during the 2nd quarter worth $260,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MPC has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Piper Sandler lowered their target price on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a report on Friday, June 14th. Wells Fargo & Company cut their price target on shares of Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Raymond James lowered their price objective on shares of Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating for the company in a research note on Thursday, May 30th. Finally, StockNews.com downgraded shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.38.

Marathon Petroleum Stock Up 1.0 %

Marathon Petroleum stock traded up $1.68 during midday trading on Friday, reaching $175.83. The company’s stock had a trading volume of 2,321,874 shares, compared to its average volume of 2,645,106. The business has a 50-day simple moving average of $170.93 and a 200-day simple moving average of $179.30. The company has a market cap of $61.95 billion, a P/E ratio of 8.78, a P/E/G ratio of 2.09 and a beta of 1.40. Marathon Petroleum Co. has a fifty-two week low of $139.32 and a fifty-two week high of $221.11. The company has a quick ratio of 0.99, a current ratio of 1.43 and a debt-to-equity ratio of 0.85.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, topping the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The firm had revenue of $38.36 billion during the quarter, compared to analysts’ expectations of $36.66 billion. During the same quarter in the previous year, the business earned $5.32 earnings per share. The firm’s revenue was up 4.2% compared to the same quarter last year. On average, research analysts expect that Marathon Petroleum Co. will post 13.84 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a $0.825 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $3.30 dividend on an annualized basis and a yield of 1.88%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Marathon Petroleum announced that its Board of Directors has initiated a share repurchase plan on Tuesday, April 30th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the oil and gas company to repurchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Marathon Petroleum Company 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.