Parcion Private Wealth LLC Cuts Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Parcion Private Wealth LLC lessened its position in Marathon Petroleum Co. (NYSE:MPC) by 2.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,188 shares of the oil and gas company’s stock after selling 701 shares during the quarter. Parcion Private Wealth LLC’s holdings in Marathon Petroleum were worth $4,543,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MPC. FinTrust Capital Advisors LLC raised its holdings in shares of Marathon Petroleum by 400.0% in the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 100 shares during the period. Crewe Advisors LLC purchased a new stake in shares of Marathon Petroleum in the 1st quarter valued at $29,000. ICA Group Wealth Management LLC purchased a new stake in shares of Marathon Petroleum in the 4th quarter valued at $30,000. Vima LLC acquired a new position in Marathon Petroleum during the 4th quarter worth $30,000. Finally, Manchester Capital Management LLC grew its stake in 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. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

MPC traded down $2.46 on Friday, hitting $166.00. 2,242,556 shares of the company traded hands, compared to its average volume of 2,623,754. The company has a 50 day moving average of $171.21 and a 200-day moving average of $180.21. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $58.49 billion, a PE ratio of 8.29, a PEG ratio of 2.33 and a beta of 1.38. Marathon Petroleum Co. has a 12-month low of $139.32 and a 12-month high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data 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 firm had revenue of $38.36 billion during the quarter, compared to the consensus estimate of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $5.32 EPS. Sell-side analysts anticipate that Marathon Petroleum Co. will post 12.68 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be issued a $0.825 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $3.30 annualized dividend and a dividend yield of 1.99%. Marathon Petroleum’s dividend payout ratio is currently 16.48%.

Analyst Ratings Changes

MPC has been the subject of several analyst reports. Scotiabank lowered their target price on Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Wells Fargo & Company lowered their target price on Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. TD Cowen boosted their target price on Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Jefferies Financial Group boosted their target price on Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Finally, Tudor Pickering raised Marathon Petroleum to a “strong-buy” rating in a research note on Thursday, May 30th. 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.38.

Marathon Petroleum Company 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.