Janney Montgomery Scott LLC Reduces Position in Marathon Petroleum Corporation $MPC

Janney Montgomery Scott LLC reduced its stake in Marathon Petroleum Corporation (NYSE:MPC) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 134,344 shares of the oil and gas company’s stock after selling 2,274 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Marathon Petroleum were worth $22,316,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Baker Tilly Wealth Management LLC grew its stake in shares of Marathon Petroleum by 2.8% in the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company’s stock valued at $370,000 after purchasing an additional 60 shares during the last quarter. CHICAGO TRUST Co NA grew its stake in shares of Marathon Petroleum by 3.9% in the 2nd quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company’s stock valued at $280,000 after purchasing an additional 63 shares during the last quarter. Sunpointe LLC lifted its holdings in shares of Marathon Petroleum by 4.1% in the 2nd quarter. Sunpointe LLC now owns 1,750 shares of the oil and gas company’s stock valued at $291,000 after buying an additional 69 shares during the period. Beverly Hills Private Wealth LLC lifted its holdings in shares of Marathon Petroleum by 1.3% in the 1st quarter. Beverly Hills Private Wealth LLC now owns 6,739 shares of the oil and gas company’s stock valued at $982,000 after buying an additional 84 shares during the period. Finally, Valmark Advisers Inc. lifted its holdings in shares of Marathon Petroleum by 2.3% in the 1st quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company’s stock valued at $554,000 after buying an additional 86 shares during the period. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Mizuho raised their price target on Marathon Petroleum from $184.00 to $188.00 and gave the company a “neutral” rating in a report on Monday, September 15th. Piper Sandler raised their price target on Marathon Petroleum from $184.00 to $222.00 and gave the company a “neutral” rating in a report on Thursday, September 11th. Wells Fargo & Company raised their price target on Marathon Petroleum from $182.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Wolfe Research cut Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a report on Monday, July 14th. Finally, TD Cowen reduced their price objective on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $195.00.

Marathon Petroleum Stock Performance

Marathon Petroleum stock opened at $192.36 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. The stock has a fifty day moving average of $176.59 and a two-hundred day moving average of $161.84. The company has a market capitalization of $58.48 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 3.33 and a beta of 0.90. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $201.61.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.74. The company had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.Marathon Petroleum’s revenue was down 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.12 earnings per share. On average, analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 1.9%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 54.01%.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the firm’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the transaction, the insider owned 28,700 shares of the company’s stock, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.21% of the company’s stock.

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.