Marathon Petroleum Co. (NYSE:MPC) Stake Reduced by Clarius Group LLC

Clarius Group LLC cut its holdings in Marathon Petroleum Co. (NYSE:MPC) by 6.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,345 shares of the oil and gas company’s stock after selling 297 shares during the quarter. Clarius Group LLC’s holdings in Marathon Petroleum were worth $754,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. CX Institutional raised its holdings in Marathon Petroleum by 2.0% during the 2nd quarter. CX Institutional now owns 26,477 shares of the oil and gas company’s stock worth $4,593,000 after buying an additional 529 shares during the period. Valeo Financial Advisors LLC raised its holdings in Marathon Petroleum by 3.8% during the 2nd quarter. Valeo Financial Advisors LLC now owns 8,345 shares of the oil and gas company’s stock worth $1,448,000 after buying an additional 306 shares during the period. NBC Securities Inc. raised its holdings in Marathon Petroleum by 4.0% during the 2nd quarter. NBC Securities Inc. now owns 6,585 shares of the oil and gas company’s stock worth $1,142,000 after buying an additional 252 shares during the period. CWM LLC raised its holdings in Marathon Petroleum by 9.3% during the 2nd quarter. CWM LLC now owns 16,489 shares of the oil and gas company’s stock worth $2,861,000 after buying an additional 1,398 shares during the period. Finally, Naples Money Management LLC raised its holdings in Marathon Petroleum by 0.7% during the 2nd quarter. Naples Money Management LLC now owns 14,615 shares of the oil and gas company’s stock worth $2,555,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on MPC. Barclays cut their price objective on Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating on the stock in a report on Monday, July 1st. Piper Sandler dropped their target price on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a report on Friday, June 14th. Scotiabank dropped their target price on Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. TD Cowen upped their target price on Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company dropped their target price on Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $198.38.

Marathon Petroleum Stock Up 0.6 %

Shares of NYSE MPC traded up $1.08 during trading hours on Friday, hitting $175.23. The stock had a trading volume of 213,037 shares, compared to its average volume of 2,631,674. The company has a market capitalization of $61.74 billion, a P/E ratio of 8.70, a P/E/G ratio of 2.09 and a beta of 1.40. 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 firm’s 50-day moving average price is $170.94 and its two-hundred day moving average price is $178.98. Marathon Petroleum Co. has a 52 week low of $139.32 and a 52 week high of $221.11.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. The firm had revenue of $38.36 billion during the quarter, compared to analysts’ expectations of $36.66 billion. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The company’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.32 earnings per share. Analysts anticipate that Marathon Petroleum Co. will post 13.84 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a dividend of $0.825 per share. The ex-dividend date is Wednesday, August 21st. This represents a $3.30 dividend on an annualized basis and a yield of 1.88%. Marathon Petroleum’s payout ratio is currently 16.48%.

Marathon Petroleum announced that its Board of Directors has initiated a share repurchase program on Tuesday, April 30th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 7.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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.