Allegiance Financial Group Advisory Services LLC Reduces Holdings in Marathon Petroleum Corporation $MPC

Allegiance Financial Group Advisory Services LLC lowered its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 22.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,607 shares of the oil and gas company’s stock after selling 1,042 shares during the quarter. Allegiance Financial Group Advisory Services LLC’s holdings in Marathon Petroleum were worth $599,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Marathon Petroleum by 12.3% in the 1st quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock worth $5,090,611,000 after buying an additional 3,834,501 shares during the period. Wellington Management Group LLP lifted its holdings in Marathon Petroleum by 18.7% in the 1st quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock worth $1,722,664,000 after buying an additional 1,862,674 shares during the period. Raymond James Financial Inc. lifted its holdings in Marathon Petroleum by 6.3% in the 1st quarter. Raymond James Financial Inc. now owns 6,037,532 shares of the oil and gas company’s stock worth $879,608,000 after buying an additional 355,215 shares during the period. Boston Partners lifted its holdings in Marathon Petroleum by 58.5% in the 1st quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock worth $791,274,000 after buying an additional 2,011,810 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Marathon Petroleum by 3.7% in the 1st quarter. Bank of New York Mellon Corp now owns 4,982,348 shares of the oil and gas company’s stock worth $725,878,000 after buying an additional 178,397 shares during the period. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 1.5%

MPC stock opened at $188.72 on Thursday. The business has a 50 day moving average of $178.07 and a 200 day moving average of $163.01. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $201.61. The firm has a market cap of $57.37 billion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 3.22 and a beta of 0.90.

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

Marathon Petroleum Announces Dividend

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

Insider Buying and Selling

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the 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 sale, the insider directly owned 28,700 shares in the company, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MPC. Dbs Bank raised Marathon Petroleum to a “moderate buy” rating in a research report on Monday, July 28th. UBS Group increased their target price on Marathon Petroleum from $203.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. TD Cowen decreased their target price on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Raymond James Financial increased their target price on Marathon Petroleum from $195.00 to $199.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 9th. Finally, Barclays increased their target price on Marathon Petroleum from $159.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $198.23.

About Marathon Petroleum

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.