Diversify Advisory Services LLC Sells 1,613 Shares of Marathon Petroleum Co. (NYSE:MPC)

Diversify Advisory Services LLC lessened its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 33.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 3,276 shares of the oil and gas company’s stock after selling 1,613 shares during the period. Diversify Advisory Services LLC’s holdings in Marathon Petroleum were worth $534,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Marathon Petroleum during the 4th quarter worth approximately $25,000. FinTrust Capital Advisors LLC increased its stake in Marathon Petroleum by 400.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. Crewe Advisors LLC acquired a new position in Marathon Petroleum during the 1st quarter valued at approximately $29,000. ICA Group Wealth Management LLC acquired a new position in Marathon Petroleum during the 4th quarter valued at approximately $30,000. Finally, Vima LLC acquired a new position in Marathon Petroleum during the 4th quarter valued at approximately $30,000. Institutional investors own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MPC. JPMorgan Chase & Co. cut their price target on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Wolfe Research began coverage on shares of Marathon Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price objective on the stock. Scotiabank dropped their price objective on shares of Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Mizuho dropped their price objective on shares of Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Finally, Tudor Pickering raised shares of Marathon Petroleum to a “strong-buy” rating in a report on Thursday, May 30th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $198.38.

Marathon Petroleum Stock Performance

NYSE MPC traded up $1.68 during mid-day trading on Friday, reaching $175.83. 2,321,874 shares of the stock were exchanged, compared to its average volume of 2,645,106. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 1.43. The business’s 50 day moving average is $170.93 and its 200-day moving average is $179.30. The company has a market capitalization of $61.95 billion, a P/E ratio of 8.78, a P/E/G ratio of 2.09 and a beta of 1.40. Marathon Petroleum Co. has a 1 year low of $139.32 and a 1 year high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. The company had revenue of $38.36 billion during the quarter, compared to analysts’ expectations of $36.66 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $5.32 earnings per share. On average, equities research analysts forecast that Marathon Petroleum Co. will post 13.84 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio is presently 16.48%.

Marathon Petroleum announced that its Board of Directors has approved a share buyback plan on Tuesday, April 30th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the oil and gas company to repurchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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.