Independent Advisor Alliance Sells 1,204 Shares of Marathon Petroleum Corporation (NYSE:MPC)

Independent Advisor Alliance decreased its position in Marathon Petroleum Corporation (NYSE:MPC) by 13.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,048 shares of the oil and gas company’s stock after selling 1,204 shares during the quarter. Independent Advisor Alliance’s holdings in Marathon Petroleum were worth $1,173,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Linscomb Wealth Inc. grew its stake in shares of Marathon Petroleum by 18.0% in the 1st quarter. Linscomb Wealth Inc. now owns 5,801 shares of the oil and gas company’s stock worth $845,000 after acquiring an additional 883 shares in the last quarter. CCM Investment Group LLC bought a new stake in shares of Marathon Petroleum in the 1st quarter worth $4,751,000. Nuveen LLC bought a new stake in shares of Marathon Petroleum in the 1st quarter worth $147,122,000. Scissortail Wealth Management LLC grew its stake in shares of Marathon Petroleum by 0.6% in the 1st quarter. Scissortail Wealth Management LLC now owns 30,502 shares of the oil and gas company’s stock worth $4,444,000 after acquiring an additional 189 shares in the last quarter. Finally, American Alpha Advisors LLC bought a new stake in shares of Marathon Petroleum in the 1st quarter worth $453,000. Institutional investors own 76.77% of the company’s stock.

Insider Activity

In other news, Director Kim K.W. Rucker sold 7,392 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total value of $1,293,600.00. Following the sale, the director directly owned 18,944 shares of the company’s stock, valued at approximately $3,315,200. This represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Scotiabank reiterated an “outperform” rating on shares of Marathon Petroleum in a research note on Friday, July 11th. TD Cowen cut their price target on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Piper Sandler boosted their price target on shares of Marathon Petroleum from $175.00 to $182.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Raymond James Financial reissued an “outperform” rating and issued a $200.00 price target (up from $180.00) on shares of Marathon Petroleum in a report on Tuesday, July 15th. Finally, Mizuho boosted their price target on shares of Marathon Petroleum from $168.00 to $184.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $185.29.

Marathon Petroleum Price Performance

NYSE MPC opened at $161.64 on Thursday. The company has a market cap of $49.14 billion, a PE ratio of 23.98, a price-to-earnings-growth ratio of 2.89 and a beta of 0.90. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $183.10. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The firm’s 50-day simple moving average is $169.28 and its two-hundred day simple moving average is $153.87.

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

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio is presently 54.01%.

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.