Centric Wealth Management Lowers Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Centric Wealth Management lowered its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 43.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 17,166 shares of the oil and gas company’s stock after selling 13,039 shares during the period. Centric Wealth Management’s holdings in Marathon Petroleum were worth $2,395,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Edgestream Partners L.P. increased its holdings in shares of Marathon Petroleum by 5.2% in the third quarter. Edgestream Partners L.P. now owns 16,497 shares of the oil and gas company’s stock worth $2,688,000 after purchasing an additional 811 shares during the period. True Wealth Design LLC increased its stake in Marathon Petroleum by 672.7% in the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 148 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Marathon Petroleum in the 3rd quarter valued at about $218,000. Paloma Partners Management Co boosted its position in shares of Marathon Petroleum by 94.7% during the 3rd quarter. Paloma Partners Management Co now owns 39,524 shares of the oil and gas company’s stock valued at $6,439,000 after acquiring an additional 19,224 shares during the last quarter. Finally, Benjamin Edwards Inc. purchased a new position in shares of Marathon Petroleum during the third quarter worth about $803,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 1.2 %

NYSE:MPC opened at $145.85 on Tuesday. The firm has a market capitalization of $45.44 billion, a P/E ratio of 14.69, a P/E/G ratio of 3.11 and a beta of 1.39. The company has a fifty day moving average of $148.60 and a 200 day moving average of $151.35. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a 52 week low of $130.54 and a 52 week high of $221.11.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.71. The business had revenue of $33.47 billion during the quarter, compared to analyst estimates of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. Marathon Petroleum’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.98 EPS. On average, research analysts predict that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 19th were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.50%. The ex-dividend date was Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 36.66%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Marathon Petroleum from $183.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Tudor Pickering raised shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. Raymond James reissued a “strong-buy” rating on shares of Marathon Petroleum in a research note on Thursday. TD Cowen reaffirmed a “buy” rating and set a $170.00 price target on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Finally, Mizuho reduced their price objective on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.21.

Insider Buying and Selling at Marathon Petroleum

In other news, insider Ricky D. Hessling purchased 2,000 shares of Marathon Petroleum stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average cost of $134.72 per share, with a total value of $269,440.00. Following the completion of the purchase, the insider now directly owns 12,162 shares in the company, valued at approximately $1,638,464.64. This trade represents a 19.68 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Evan Bayh acquired 1,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were purchased at an average cost of $133.70 per share, with a total value of $133,700.00. Following the transaction, the director now directly owns 69,305 shares of the company’s stock, valued at approximately $9,266,078.50. This trade represents a 1.46 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.21% of the company’s stock.

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.