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

Allegiance Financial Group Advisory Services LLC reduced its position in Marathon Petroleum Corporation (NYSE:MPC) by 22.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,607 shares of the oil and gas company’s stock after selling 1,042 shares during the period. Allegiance Financial Group Advisory Services LLC’s holdings in Marathon Petroleum were worth $599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. CBIZ Investment Advisory Services LLC lifted its position in Marathon Petroleum by 1,546.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 201 shares in the last quarter. Hughes Financial Services LLC purchased a new position in Marathon Petroleum during the first quarter valued at $32,000. WPG Advisers LLC purchased a new position in Marathon Petroleum during the first quarter valued at $32,000. Decker Retirement Planning Inc. lifted its position in Marathon Petroleum by 1,621.4% during the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 227 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in Marathon Petroleum during the first quarter valued at $35,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Trading Down 1.5%

Shares of MPC stock opened at $188.72 on Thursday. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $201.61. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. The stock’s 50-day moving average price is $178.07 and its 200-day moving average price is $163.01. The stock has a market capitalization of $57.37 billion, a price-to-earnings 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 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $34.10 billion for the quarter, compared to analysts’ expectations of $31.70 billion. During the same period in the previous year, the firm posted $4.12 earnings per share. The business’s revenue was down 11.1% compared to the same quarter last year. Equities research analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, August 20th. Marathon Petroleum’s payout ratio is 54.01%.

Insider Activity

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

MPC has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Marathon Petroleum in a research report on Wednesday. Evercore ISI lifted their target price on Marathon Petroleum from $170.00 to $210.00 and gave the company an “in-line” rating in a research report on Friday, September 19th. Raymond James Financial raised their price target on Marathon Petroleum from $195.00 to $199.00 and gave the company an “outperform” rating in a report on Tuesday, September 9th. Citigroup raised their price target on Marathon Petroleum from $144.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Finally, Dbs Bank raised Marathon Petroleum to a “moderate buy” rating in a report on Monday, July 28th. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.