Waldron Private Wealth LLC Cuts Holdings in Marathon Petroleum Co. (NYSE:MPC)

Waldron Private Wealth LLC decreased its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 3.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,088 shares of the oil and gas company’s stock after selling 127 shares during the period. Waldron Private Wealth LLC’s holdings in Marathon Petroleum were worth $666,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Raymond James & Associates lifted its holdings in shares of Marathon Petroleum by 2.6% in the 2nd quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company’s stock valued at $743,690,000 after acquiring an additional 107,915 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Marathon Petroleum by 1.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company’s stock valued at $620,815,000 after acquiring an additional 31,100 shares during the last quarter. Boston Partners lifted its holdings in shares of Marathon Petroleum by 0.3% in the 1st quarter. Boston Partners now owns 2,773,050 shares of the oil and gas company’s stock valued at $558,390,000 after acquiring an additional 8,476 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Marathon Petroleum by 8.5% in the 2nd quarter. Pacer Advisors Inc. now owns 2,669,815 shares of the oil and gas company’s stock valued at $463,160,000 after acquiring an additional 209,270 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Marathon Petroleum by 7.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company’s stock valued at $335,241,000 after acquiring an additional 117,790 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $158.24 on Wednesday. The company’s 50 day moving average is $166.98 and its 200 day moving average is $174.53. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. Marathon Petroleum Co. has a 52-week low of $140.98 and a 52-week high of $221.11. The firm has a market cap of $55.75 billion, a price-to-earnings ratio of 7.90, a PEG ratio of 2.65 and a beta of 1.37.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The business had revenue of $38.36 billion for the quarter, compared to analyst estimates of $36.66 billion. During the same period in the previous year, the company earned $5.32 earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, sell-side analysts anticipate that Marathon Petroleum Co. will post 10.22 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio is currently 16.48%.

Analysts Set New Price Targets

A number of research analysts recently commented on MPC shares. Tudor, Pickering, Holt & Co. downgraded shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a report on Monday, September 9th. Citigroup lowered their price target on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Jefferies Financial Group raised their price objective on shares of Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Wells Fargo & Company decreased their price objective on shares of Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Finally, Piper Sandler decreased their price objective on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.00.

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.