Kingswood Wealth Advisors LLC Sells 2,385 Shares of Marathon Petroleum Corporation $MPC

Kingswood Wealth Advisors LLC decreased its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 47.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,639 shares of the oil and gas company’s stock after selling 2,385 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Marathon Petroleum were worth $438,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MPC. Baker Tilly Wealth Management LLC increased its stake in Marathon Petroleum by 2.8% in the second quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company’s stock valued at $370,000 after acquiring an additional 60 shares during the last quarter. CHICAGO TRUST Co NA increased its stake in Marathon Petroleum by 3.9% in the second quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company’s stock valued at $280,000 after acquiring an additional 63 shares during the last quarter. Sunpointe LLC increased its stake in Marathon Petroleum by 4.1% in the second quarter. Sunpointe LLC now owns 1,750 shares of the oil and gas company’s stock valued at $291,000 after acquiring an additional 69 shares during the last quarter. Beverly Hills Private Wealth LLC increased its stake in Marathon Petroleum by 1.3% in the first quarter. Beverly Hills Private Wealth LLC now owns 6,739 shares of the oil and gas company’s stock valued at $982,000 after acquiring an additional 84 shares during the last quarter. Finally, Valmark Advisers Inc. increased its stake in Marathon Petroleum by 2.3% in the first quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company’s stock valued at $554,000 after acquiring an additional 86 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Insider Transactions at Marathon Petroleum

In related news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the transaction, the insider directly owned 28,700 shares of the company’s stock, valued at $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on MPC shares. Bank of America upped their price target on shares of Marathon Petroleum from $184.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, September 3rd. Wells Fargo & Company upped their price target on shares of Marathon Petroleum from $182.00 to $205.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. TD Cowen cut their price target on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Evercore ISI upped their price target on shares of Marathon Petroleum from $170.00 to $210.00 and gave the company an “in-line” rating in a research report on Friday, September 19th. Finally, Barclays upped their price target on shares of Marathon Petroleum from $159.00 to $189.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. Eight equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $198.92.

Marathon Petroleum Stock Performance

Marathon Petroleum stock opened at $187.54 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. The firm has a 50-day moving average of $178.42 and a 200-day moving average of $163.28. The firm has a market cap of $57.02 billion, a P/E ratio of 27.82, a P/E/G ratio of 3.17 and a beta of 0.90. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $201.61.

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

Marathon Petroleum Dividend Announcement

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

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.