Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Silverlake Wealth Management LLC

Silverlake Wealth Management LLC decreased its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 13.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,073 shares of the oil and gas company’s stock after selling 317 shares during the quarter. Silverlake Wealth Management LLC’s holdings in Marathon Petroleum were worth $338,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Granite Bay Wealth Management LLC acquired a new position in shares of Marathon Petroleum during the second quarter worth approximately $219,537,000. Capital Wealth Planning LLC increased its stake in shares of Marathon Petroleum by 10,902.9% during the first quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock valued at $223,792,000 after acquiring an additional 1,100,536 shares during the period. Assenagon Asset Management S.A. boosted its stake in Marathon Petroleum by 980.3% during the second quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company’s stock valued at $118,785,000 after buying an additional 621,336 shares in the last quarter. Panagora Asset Management Inc. grew its stake in shares of Marathon Petroleum by 64.1% in the 2nd quarter. Panagora Asset Management Inc. now owns 619,049 shares of the oil and gas company’s stock worth $107,393,000 after purchasing an additional 241,746 shares during the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of Marathon Petroleum by 8.5% in the second quarter. Pacer Advisors Inc. now owns 2,669,815 shares of the oil and gas company’s stock valued at $463,160,000 after buying an additional 209,270 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on MPC shares. Wells Fargo & Company lowered their target price on Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating on the stock in a research note on Wednesday. Piper Sandler cut their price objective on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Mizuho lowered their target price on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Citigroup lowered their price objective on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Jefferies Financial Group lifted their target price on shares of Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $190.73.

Marathon Petroleum Trading Down 0.4 %

MPC stock opened at $164.26 on Friday. Marathon Petroleum Co. has a 52 week low of $140.98 and a 52 week high of $221.11. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31. The company’s 50-day simple moving average is $168.89 and its 200 day simple moving average is $177.20. The company has a market capitalization of $57.87 billion, a PE ratio of 8.20, a price-to-earnings-growth ratio of 2.65 and a beta of 1.37.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. The business had revenue of $38.36 billion for 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 quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.32 earnings per share. As a group, sell-side analysts anticipate that Marathon Petroleum Co. will post 10.22 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.825 per share. The ex-dividend date was Wednesday, August 21st. This represents a $3.30 annualized dividend and a yield of 2.01%. Marathon Petroleum’s dividend payout ratio is currently 16.48%.

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.