Lucia Wealth Services LLC Has $537,000 Position in Marathon Petroleum Corp (NYSE:MPC)

Lucia Wealth Services LLC reduced its stake in Marathon Petroleum Corp (NYSE:MPC) by 71.5% during the second quarter, HoldingsChannel reports. The firm owned 9,603 shares of the oil and gas company’s stock after selling 24,070 shares during the quarter. Lucia Wealth Services LLC’s holdings in Marathon Petroleum were worth $537,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its holdings in Marathon Petroleum by 3.0% during the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 17,395 shares of the oil and gas company’s stock worth $972,000 after purchasing an additional 500 shares during the last quarter. Waratah Capital Advisors Ltd. bought a new stake in Marathon Petroleum during the 2nd quarter valued at $4,568,000. HGK Asset Management Inc. boosted its holdings in Marathon Petroleum by 9.2% during the 2nd quarter. HGK Asset Management Inc. now owns 116,274 shares of the oil and gas company’s stock worth $6,497,000 after acquiring an additional 9,781 shares during the last quarter. World Asset Management Inc boosted its holdings in Marathon Petroleum by 1.7% during the 2nd quarter. World Asset Management Inc now owns 54,945 shares of the oil and gas company’s stock worth $3,070,000 after acquiring an additional 896 shares during the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of Marathon Petroleum in the 2nd quarter worth about $536,000. Institutional investors and hedge funds own 77.45% of the company’s stock.

Shares of MPC stock opened at $55.26 on Friday. The stock has a market capitalization of $36.68 billion, a P/E ratio of 8.15, a P/E/G ratio of 1.57 and a beta of 1.65. The business’s 50 day simple moving average is $54.06. The company has a quick ratio of 0.55, a current ratio of 1.20 and a debt-to-equity ratio of 0.69. Marathon Petroleum Corp has a 12-month low of $45.47 and a 12-month high of $88.45.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Thursday, August 1st. The oil and gas company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.33 by $0.40. The firm had revenue of $33.70 billion during the quarter, compared to analysts’ expectations of $33.26 billion. Marathon Petroleum had a return on equity of 11.10% and a net margin of 2.56%. The business’s revenue for the quarter was up 50.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.27 earnings per share. Equities research analysts anticipate that Marathon Petroleum Corp will post 4.23 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a dividend of $0.53 per share. The ex-dividend date is Tuesday, August 20th. This represents a $2.12 annualized dividend and a dividend yield of 3.84%. Marathon Petroleum’s dividend payout ratio is currently 31.27%.

In other Marathon Petroleum news, Director James E. Rohr purchased 12,500 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was bought at an average cost of $48.14 per share, with a total value of $601,750.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Donald C. Templin bought 5,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were purchased at an average price of $50.74 per share, for a total transaction of $253,700.00. Following the transaction, the insider now directly owns 93,182 shares of the company’s stock, valued at approximately $4,728,054.68. The disclosure for this purchase can be found here. Company insiders own 1.06% of the company’s stock.

Several equities research analysts have recently weighed in on the company. Wells Fargo & Co decreased their price target on Marathon Petroleum from $96.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Morgan Stanley dropped their price target on Marathon Petroleum from $82.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, May 17th. Zacks Investment Research downgraded Marathon Petroleum from a “hold” rating to a “strong sell” rating in a report on Friday, May 17th. Cowen downgraded Marathon Petroleum from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $90.00 to $65.00 in a report on Friday, May 10th. Finally, Royal Bank of Canada dropped their price objective on Marathon Petroleum from $71.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Two analysts have rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Marathon Petroleum presently has an average rating of “Buy” and an average target price of $83.12.

About Marathon Petroleum

Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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