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

Invera Wealth Advisors LLC trimmed its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 7.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,328 shares of the oil and gas company’s stock after selling 427 shares during the period. Marathon Petroleum comprises approximately 0.9% of Invera Wealth Advisors LLC’s portfolio, making the stock its 29th largest position. Invera Wealth Advisors LLC’s holdings in Marathon Petroleum were worth $875,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new stake in Marathon Petroleum in the fourth quarter valued at approximately $500,685,000. Granite Bay Wealth Management LLC purchased a new position in shares of Marathon Petroleum during the second quarter valued at approximately $219,537,000. Capital Wealth Planning LLC lifted its position in shares of Marathon Petroleum by 10,902.9% in the 1st quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock worth $223,792,000 after purchasing an additional 1,100,536 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Marathon Petroleum by 980.3% in the second quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company’s stock worth $118,785,000 after buying an additional 621,336 shares during the period. Finally, Schroder Investment Management Group boosted its position in shares of Marathon Petroleum by 309.9% during the fourth quarter. Schroder Investment Management Group now owns 643,590 shares of the oil and gas company’s stock valued at $95,483,000 after purchasing an additional 486,573 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MPC shares. Mizuho decreased their price objective on Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating for the company in a report on Thursday, June 20th. Piper Sandler dropped their price objective 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. Barclays decreased their target price on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday, July 1st. Jefferies Financial Group boosted their price target on Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Finally, Raymond James reduced their price objective on Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating for the company in a research report on Thursday, May 30th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and an average price target of $198.38.

Marathon Petroleum Trading Down 1.5 %

Shares of MPC stock opened at $166.00 on Monday. The stock has a market capitalization of $55.56 billion, a P/E ratio of 8.29, a P/E/G ratio of 2.18 and a beta of 1.38. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86. The firm’s 50 day moving average is $171.21 and its 200 day moving average is $180.42. Marathon Petroleum Co. has a 12-month low of $139.32 and a 12-month high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, topping the consensus estimate of $3.09 by $1.03. The company had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. Marathon Petroleum’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.32 earnings per share. Research analysts expect that Marathon Petroleum Co. will post 12.68 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio is presently 16.48%.

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.