Segment Wealth Management LLC decreased its position in shares of Marathon Petroleum Co. (NYSE:MPC – Get Rating) by 22.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 125,102 shares of the oil and gas company’s stock after selling 36,268 shares during the quarter. Marathon Petroleum makes up about 1.1% of Segment Wealth Management LLC’s portfolio, making the stock its 27th biggest holding. Segment Wealth Management LLC’s holdings in Marathon Petroleum were worth $10,696,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in MPC. Addison Advisors LLC acquired a new position in Marathon Petroleum in the fourth quarter valued at about $28,000. Riverview Trust Co acquired a new position in Marathon Petroleum in the first quarter valued at about $29,000. Ellis Investment Partners LLC acquired a new position in Marathon Petroleum in the fourth quarter valued at about $30,000. Dixon Hughes Goodman Wealth Advisors LLC increased its stake in Marathon Petroleum by 138.5% during the first quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 353 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 205 shares during the period. Finally, Roble Belko & Company Inc purchased a new stake in Marathon Petroleum during the fourth quarter worth about $32,000. 80.91% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Raymond L. Brooks sold 133,857 shares of the stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $96.82, for a total value of $12,960,034.74. Following the completion of the sale, the vice president now directly owns 63,248 shares of the company’s stock, valued at $6,123,671.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.28% of the stock is currently owned by corporate insiders.
Marathon Petroleum (NYSE:MPC – Get Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The oil and gas company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.37. The business had revenue of $38.38 billion during the quarter, compared to the consensus estimate of $32.46 billion. Marathon Petroleum had a return on equity of 7.60% and a net margin of 7.93%. The company’s revenue was up 67.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.20) earnings per share. As a group, equities analysts predict that Marathon Petroleum Co. will post 14.57 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Wednesday, May 18th were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.85%. The ex-dividend date was Tuesday, May 17th. Marathon Petroleum’s payout ratio is currently 13.77%.
MPC has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their price target on shares of Marathon Petroleum from $95.00 to $109.00 in a research note on Tuesday, May 17th. Citigroup upped their target price on shares of Marathon Petroleum from $85.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, April 26th. Morgan Stanley upped their target price on shares of Marathon Petroleum from $90.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, April 18th. Piper Sandler upped their target price on shares of Marathon Petroleum from $96.00 to $106.00 and gave the stock a “neutral” rating in a research note on Monday, May 23rd. Finally, Raymond James upped their target price on shares of Marathon Petroleum from $98.00 to $110.00 and gave the stock a “strong-buy” rating in a research note on Friday, April 8th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $110.36.
Marathon Petroleum Profile (Get Rating)
Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. 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.
- Get a free copy of the StockNews.com research report on Marathon Petroleum (MPC)
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