Wells Trecaso Financial Group LLC Sells 100 Shares of Marathon Petroleum Corporation $MPC

Wells Trecaso Financial Group LLC lessened its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 5.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,870 shares of the oil and gas company’s stock after selling 100 shares during the quarter. Wells Trecaso Financial Group LLC’s holdings in Marathon Petroleum were worth $311,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Good Steward Wealth Advisors LLC bought a new stake in Marathon Petroleum in the 1st quarter valued at $346,000. Silver Oak Securities Incorporated bought a new stake in shares of Marathon Petroleum in the 1st quarter worth about $339,000. Financial Partners Group LLC grew its holdings in shares of Marathon Petroleum by 65.8% in the 1st quarter. Financial Partners Group LLC now owns 3,937 shares of the oil and gas company’s stock worth $574,000 after purchasing an additional 1,563 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Marathon Petroleum by 8.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 44,387 shares of the oil and gas company’s stock worth $6,467,000 after purchasing an additional 3,291 shares during the last quarter. Finally, Jump Financial LLC grew its holdings in shares of Marathon Petroleum by 128.0% in the 1st quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company’s stock worth $1,262,000 after purchasing an additional 4,863 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 0.6%

Shares of NYSE MPC opened at $193.31 on Friday. The firm’s 50-day simple moving average is $177.02 and its 200 day simple moving average is $162.17. The company has a market cap of $58.77 billion, a price-to-earnings ratio of 28.68, a price-to-earnings-growth ratio of 3.33 and a beta of 0.90. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $201.61.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.74. The business had revenue of $34.10 billion for the quarter, compared to the consensus estimate of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The firm’s quarterly revenue was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.12 EPS. On average, research analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were given a dividend of $0.91 per share. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a yield of 1.9%. Marathon Petroleum’s dividend payout ratio is presently 54.01%.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the transaction, the insider directly owned 28,700 shares in the company, valued at approximately $4,678,100. This represents a 27.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MPC shares. BMO Capital Markets upped their target price on shares of Marathon Petroleum from $195.00 to $208.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Raymond James Financial upped their target price on shares of Marathon Petroleum from $195.00 to $199.00 and gave the stock an “outperform” rating in a report on Tuesday, September 9th. Evercore ISI upped their target price on shares of Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a report on Friday, September 19th. Dbs Bank raised shares of Marathon Petroleum to a “moderate buy” rating in a report on Monday, July 28th. Finally, UBS Group upped their target price on shares of Marathon Petroleum from $203.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Eight equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Marathon Petroleum currently has a consensus rating of “Hold” and a consensus target price of $196.29.

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.