Marathon Petroleum Co. (NYSE:MPC) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its holdings in Marathon Petroleum Co. (NYSE:MPC – Free Report) by 34.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 39,169 shares of the oil and gas company’s stock after selling 20,697 shares during the period. SG Americas Securities LLC’s holdings in Marathon Petroleum were worth $6,795,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Marathon Petroleum in the 4th quarter worth approximately $25,000. FinTrust Capital Advisors LLC boosted its holdings in shares of Marathon Petroleum by 400.0% in the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 100 shares during the period. Crewe Advisors LLC purchased a new position in shares of Marathon Petroleum in the 1st quarter worth approximately $29,000. ICA Group Wealth Management LLC purchased a new position in shares of Marathon Petroleum in the 4th quarter worth about $30,000. Finally, Vima LLC acquired a new position in shares of Marathon Petroleum in the 4th quarter worth approximately $30,000. 76.77% of shares are owned by institutional investors and hedge funds.

Analysts on Wall Street are forecasting an increase

Several research analysts recently weighed in on the stock. Mizuho cut their price objective on shares of Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. JPMorgan Chase & Co. cut their target price on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Raymond James lowered their target price on shares of Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating on the stock in a report on Thursday, May 30th. Wolfe Research began coverage on shares of Marathon Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price target on the stock. Finally, Piper Sandler cut their price target on shares of Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a report on Friday, June 14th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $198.38.

Read the latest stock analysis on MPC

Marathon Oil Stock Up 1.0%

MPC stock traded up $1.68 during mid-day trading on Friday, reaching $175.83. 2,321,874 shares of the company traded hands, compared to its average volume of 2,645,106. Marathon Petroleum Co. it has a fifty-two week low of $139.32 and a fifty-two week high of $221.11. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99, and a current ratio of 1.43. The company has a market cap of $61.95 billion, a P/E ratio of 8.78, a P/E/G ratio of 2.09 and a beta of 1.40. The company’s 50-day simple moving average is $170.93, and its 200-day simple moving average is $179.30.

Marathon Petroleum (NYSE:MPC – Get Your Free Report ) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. The business had revenue of $38.36 billion during the quarter, compared to the consensus estimate of $36.66 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. In the same quarter last year, the company earned $5.32 per share. Research analysts predict that Marathon Petroleum Co. will post 13.84 earnings per share for the current year.

Marathon Petroleum declared that its Board of Directors has initiated a stock buyback plan on Tuesday, April 30th that permits the company to repurchase $5.00 billion in shares. This buyback authorization allows the oil and gas company to buy up to 7.8% of its shares through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Marathon Petroleum Dividend Announcement

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 issued a $0.825 dividend. This represents a dividend of $3.30 on an annualized basis and a yield of 1.88%. The ex-dividend date is Wednesday, August 21. Marathon Petroleum’s dividend payout ratio is currently 16.48%.

Marathon Petroleum Profile

(Free report)

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through the Refining & Marketing and Midstream segments. The Refining and 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.

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