Parcion Private Wealth LLC Reduces Stake in Marathon Petroleum Co. (NYSE:MPC)

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

Other hedge funds have also recently bought and sold shares of the company. FinTrust Capital Advisors LLC increased its stake in 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 purchasing an additional 100 shares in the last quarter. Crewe Advisors LLC purchased a new position in Marathon Petroleum during the first quarter worth $29,000. ICA Group Wealth Management LLC purchased a new position in Marathon Petroleum during the fourth quarter worth $30,000. Vima LLC purchased a new position in Marathon Petroleum during the fourth quarter worth $30,000. Finally, Manchester Capital Management LLC increased its position in Marathon Petroleum by 97.2% during the fourth quarter. Manchester Capital Management LLC now owns 215 shares of the oil and gas company’s stock worth $32,000 after buying an additional 106 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Down 1.5 %

Marathon Petroleum stock traded down $2.46 during midday trading on Friday, hitting $166.00. The stock had a trading volume of 2,242,556 shares, compared to its average volume of 2,623,754. The stock has a market cap of $58.49 billion, a P/E ratio of 8.29, a P/E/G ratio of 2.33 and a beta of 1.38. The business has a fifty day moving average price of $171.21 and a 200 day moving average price of $180.21. Marathon Petroleum Co. has a 12 month low of $139.32 and a 12 month high of $221.11. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86.

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

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a dividend of $0.825 per share. The ex-dividend date of this dividend 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 presently 16.48%.

Analyst Ratings Changes

Several equities analysts have weighed in on MPC shares. Scotiabank dropped their price target on Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. StockNews.com cut Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Friday, June 14th. JPMorgan Chase & Co. reduced their target price on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Barclays reduced their price objective on Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating on the stock in a research note on Monday, July 1st. Finally, Piper Sandler reduced their price objective on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a research note on Friday, June 14th. Six equities 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 data from MarketBeat.com, Marathon Petroleum 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.