Raymond James Financial Services Advisors Inc. Trims Stake in Marathon Petroleum Co. (NYSE:MPC)

Raymond James Financial Services Advisors Inc. trimmed its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,116,581 shares of the oil and gas company’s stock after selling 21,139 shares during the quarter. Raymond James Financial Services Advisors Inc. owned about 0.60% of Marathon Petroleum worth $367,185,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Marathon Petroleum during the fourth quarter worth about $25,000. FinTrust Capital Advisors LLC lifted its stake in shares of Marathon Petroleum by 400.0% in the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 100 shares during the last quarter. Crewe Advisors LLC bought a new stake in shares of Marathon Petroleum in the 1st quarter valued at about $29,000. ICA Group Wealth Management LLC bought a new stake in shares of Marathon Petroleum in the 4th quarter valued at about $30,000. Finally, Vima LLC bought a new stake in shares of Marathon Petroleum in the 4th quarter valued at about $30,000. Institutional investors own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

MPC has been the subject of a number of recent research reports. Scotiabank lowered their target price on Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Wolfe Research started coverage on Marathon Petroleum in a research report on Thursday, July 18th. They set an “outperform” rating and a $200.00 price target for the company. Wells Fargo & Company lowered their price target on Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Mizuho lowered their price target on Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. Finally, Piper Sandler lowered their price target on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a research report on Friday, June 14th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $198.38.

Marathon Petroleum Stock Down 0.6 %

Shares of Marathon Petroleum stock traded down $1.13 during midday trading on Monday, hitting $178.90. The company had a trading volume of 2,057,007 shares, compared to its average volume of 2,639,633. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 1.43. The stock has a market capitalization of $63.03 billion, a P/E ratio of 8.94, a P/E/G ratio of 2.09 and a beta of 1.40. The company has a 50 day moving average of $171.36 and a 200 day moving average of $180.10. Marathon Petroleum Co. has a 52-week low of $139.32 and a 52-week high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its quarterly 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. The company had revenue of $38.36 billion for the quarter, compared to the consensus estimate of $36.66 billion. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.32 EPS. On average, equities analysts predict that Marathon Petroleum Co. will post 13.84 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed 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 of this dividend is Wednesday, August 21st. This represents a $3.30 annualized dividend and a yield of 1.84%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Marathon Petroleum declared that its board has initiated a stock repurchase plan on Tuesday, April 30th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is 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.