Balentine LLC Has $205,000 Position in Marathon Petroleum Corporation $MPC

Balentine LLC reduced its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 12.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,232 shares of the oil and gas company’s stock after selling 177 shares during the period. Balentine LLC’s holdings in Marathon Petroleum were worth $205,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Syverson Strege & Co acquired a new stake in Marathon Petroleum in the 2nd quarter valued at $445,000. Integrity Alliance LLC. increased its stake in Marathon Petroleum by 324.0% in the 2nd quarter. Integrity Alliance LLC. now owns 6,313 shares of the oil and gas company’s stock valued at $1,049,000 after buying an additional 4,824 shares during the last quarter. Linscomb Wealth Inc. increased its stake in Marathon Petroleum by 3.4% in the 2nd quarter. Linscomb Wealth Inc. now owns 5,999 shares of the oil and gas company’s stock valued at $996,000 after buying an additional 198 shares during the last quarter. Creative Financial Designs Inc. ADV increased its stake in Marathon Petroleum by 7.5% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 1,852 shares of the oil and gas company’s stock valued at $308,000 after buying an additional 129 shares during the last quarter. Finally, Simon Quick Advisors LLC increased its stake in Marathon Petroleum by 60.3% in the 2nd quarter. Simon Quick Advisors LLC now owns 6,168 shares of the oil and gas company’s stock valued at $1,025,000 after buying an additional 2,321 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Stock Down 0.3%

Shares of MPC opened at $195.01 on Friday. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $201.61. The firm has a market cap of $59.29 billion, a P/E ratio of 28.93, a price-to-earnings-growth ratio of 4.09 and a beta of 0.90. The firm’s 50-day simple moving average is $186.45 and its 200 day simple moving average is $169.63. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23.

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

Marathon Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $4.00 dividend on an annualized basis and a yield of 2.1%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s payout ratio is presently 54.01%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Marathon Petroleum in a research note on Friday, October 17th. They set an “overweight” rating and a $214.00 price objective on the stock. Raymond James Financial restated an “outperform” rating and set a $203.00 price objective (up from $199.00) on shares of Marathon Petroleum in a research note on Friday, October 17th. Barclays boosted their price objective on shares of Marathon Petroleum from $176.00 to $194.00 and gave the stock an “overweight” rating in a research note on Monday, October 13th. Piper Sandler boosted their price objective on shares of Marathon Petroleum from $184.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, September 11th. Finally, Wolfe Research lowered shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average price target of $200.31.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the business’s 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 sale, the insider owned 28,700 shares of the company’s stock, valued at $4,678,100. The trade was a 27.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.21% of the stock is owned by corporate insiders.

About Marathon Petroleum

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.