Segment Wealth Management LLC Lowers Stake in Marathon Petroleum Co. (NYSE:MPC)

Segment Wealth Management LLC decreased its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 14.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 5,493 shares of the oil and gas company’s stock after selling 955 shares during the period. Segment Wealth Management LLC’s holdings in Marathon Petroleum were worth $895,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MPC. Private Advisor Group LLC increased its position in shares of Marathon Petroleum by 2.3% during the third quarter. Private Advisor Group LLC now owns 48,221 shares of the oil and gas company’s stock worth $7,856,000 after acquiring an additional 1,080 shares during the period. Accordant Advisory Group Inc boosted its holdings in shares of Marathon Petroleum by 4.8% in the third quarter. Accordant Advisory Group Inc now owns 15,267 shares of the oil and gas company’s stock valued at $2,487,000 after purchasing an additional 700 shares during the period. Sequoia Financial Advisors LLC grew its stake in Marathon Petroleum by 7.0% in the third quarter. Sequoia Financial Advisors LLC now owns 15,361 shares of the oil and gas company’s stock worth $2,502,000 after purchasing an additional 1,006 shares in the last quarter. Oakworth Capital Inc. increased its holdings in Marathon Petroleum by 9.1% during the 3rd quarter. Oakworth Capital Inc. now owns 6,960 shares of the oil and gas company’s stock worth $1,134,000 after purchasing an additional 578 shares during the period. Finally, Winch Advisory Services LLC raised its position in Marathon Petroleum by 96.0% during the 3rd quarter. Winch Advisory Services LLC now owns 545 shares of the oil and gas company’s stock valued at $89,000 after purchasing an additional 267 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 0.8 %

MPC stock opened at $158.24 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. The firm’s fifty day simple moving average is $166.98 and its 200-day simple moving average is $174.53. Marathon Petroleum Co. has a 12 month low of $140.98 and a 12 month high of $221.11. The company has a market capitalization of $55.75 billion, a P/E ratio of 7.90, a price-to-earnings-growth ratio of 2.65 and a beta of 1.37.

Marathon Petroleum (NYSE:MPC) last posted 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 company had revenue of $38.36 billion for the quarter, compared to analyst estimates of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the company earned $5.32 earnings per share. As a group, equities research analysts forecast that Marathon Petroleum Co. will post 10.22 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The business 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 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s payout ratio is presently 16.48%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Bank of America assumed coverage on shares of Marathon Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $174.00 target price on the stock. Tudor, Pickering, Holt & Co. cut Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. Scotiabank decreased their price objective on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. TD Cowen boosted their target price on shares of Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Wolfe Research assumed coverage on shares of Marathon Petroleum in a research report on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price objective on the stock. Two research 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’s stock. According to data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus price target of $187.00.

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.