Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Fiduciary Family Office LLC

by · The Markets Daily

Fiduciary Family Office LLC lowered its position in shares of Marathon Petroleum Co. (NYSE:MPC – Free Report) by 11.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,594 shares of the oil and gas company’s stock after selling 457 shares during the period. Fiduciary Family Office LLC’s holdings in Marathon Petroleum were worth $585,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. WR Wealth Planners LLC grew its holdings in shares of Marathon Petroleum by 15.2% during the second quarter. WR Wealth Planners LLC now owns 431 shares of the oil and gas company’s stock worth $75,000 after buying an additional 57 shares during the last quarter. D Orazio & Associates Inc. grew its holdings in shares of Marathon Petroleum by 3.2% during the first quarter. D Orazio & Associates Inc. now owns 1,894 shares of the oil and gas company’s stock worth $382,000 after buying an additional 59 shares during the last quarter. Legacy Advisors LLC grew its holdings in shares of Marathon Petroleum by 5.0% during the second quarter. Legacy Advisors LLC now owns 1,238 shares of the oil and gas company’s stock worth $215,000 after buying an additional 59 shares during the last quarter. Latitude Advisors LLC grew its holdings in shares of Marathon Petroleum by 3.6% during the second quarter. Latitude Advisors LLC now owns 1,714 shares of the oil and gas company’s stock worth $297,000 after buying an additional 60 shares during the last quarter. Finally, SouthState Corp grew its holdings in shares of Marathon Petroleum by 1.5% during the second quarter. SouthState Corp now owns 4,122 shares of the oil and gas company’s stock worth $715,000 after buying an additional 61 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 3.1 %

Shares of Marathon Petroleum stock opened at $149.41 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90. Marathon Petroleum Co. has a 1 year low of $140.98 and a 1 year high of $221.11. The company has a market capitalization of $50.00 billion, a P/E ratio of 7.85, a P/E/G ratio of 2.74 and a beta of 1.38. The business has a 50 day moving average price of $161.59 and a 200 day moving average price of $170.42.

Marathon Petroleum (NYSE:MPC – Get Free Report) last issued its quarterly earnings data 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 return on equity of 24.05% and a net margin of 4.79%. The firm had revenue of $38.36 billion during the quarter, compared to the consensus estimate of $36.66 billion. During the same period in the previous year, the firm posted $5.32 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. Sell-side analysts anticipate that Marathon Petroleum Co. will post 8.71 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a dividend of $0.91 per share. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Wednesday, November 20th. Marathon Petroleum’s payout ratio is currently 17.34%.

Marathon Petroleum declared that its Board of Directors has authorized a stock buyback plan on Tuesday, November 5th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the oil and gas company to repurchase up to 10% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

MPC has been the topic of a number of research reports. Tudor Pickering lowered Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 9th. BMO Capital Markets lowered their price objective on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. TD Cowen lifted their price objective on Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Scotiabank lowered their price objective on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, Piper Sandler lowered their price objective on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $187.00.

Get Our Latest Stock Report on MPC

Marathon Petroleum Profile

(Free Report)

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.

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