Balentine LLC Has $244,000 Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Balentine LLC lowered its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 90.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,405 shares of the oil and gas company’s stock after selling 13,651 shares during the quarter. Balentine LLC’s holdings in Marathon Petroleum were worth $244,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. FinTrust Capital Advisors LLC boosted its stake in shares of Marathon Petroleum by 400.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Crewe Advisors LLC acquired a new position in Marathon Petroleum during the first quarter valued at approximately $29,000. ICA Group Wealth Management LLC bought a new position in Marathon Petroleum in the fourth quarter valued at approximately $30,000. Vima LLC acquired a new position in shares of Marathon Petroleum during the 4th quarter worth approximately $30,000. Finally, Manchester Capital Management LLC raised its stake in shares of Marathon Petroleum by 97.2% during the 4th quarter. Manchester Capital Management LLC now owns 215 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 106 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Stock Performance

Shares of NYSE MPC opened at $163.24 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90. The firm has a market cap of $54.63 billion, a price-to-earnings ratio of 8.15, a P/E/G ratio of 2.18 and a beta of 1.38. The stock’s fifty day moving average price is $170.98 and its two-hundred day moving average price is $180.39. Marathon Petroleum Co. has a one year low of $139.32 and a one year high of $221.11.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, beating the consensus estimate of $3.09 by $1.03. The business had revenue of $38.36 billion for the quarter, compared to the consensus estimate of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. Marathon Petroleum’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted $5.32 earnings per share. On average, equities analysts forecast that Marathon Petroleum Co. will post 12.68 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be paid a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio (DPR) is currently 16.48%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wolfe Research initiated coverage on shares of Marathon Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $200.00 target price for the company. Tudor, Pickering, Holt & Co. lowered shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research note on Monday. Tudor Pickering raised shares of Marathon Petroleum to a “strong-buy” rating in a report on Thursday, May 30th. Barclays reduced their price target on Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a report on Monday, July 1st. Finally, Wells Fargo & Company dropped their price objective on Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $198.38.

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.