Provence Wealth Management Group Has $287,000 Stake in Marathon Petroleum Co. (NYSE:MPC)

Provence Wealth Management Group cut its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 35.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,933 shares of the oil and gas company’s stock after selling 1,039 shares during the quarter. Provence Wealth Management Group’s holdings in Marathon Petroleum were worth $287,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MPC. Marino Stram & Associates LLC grew its position in Marathon Petroleum by 0.5% during the 4th quarter. Marino Stram & Associates LLC now owns 11,424 shares of the oil and gas company’s stock worth $1,695,000 after acquiring an additional 60 shares during the last quarter. SteelPeak Wealth LLC boosted its position in Marathon Petroleum by 0.3% during the 4th quarter. SteelPeak Wealth LLC now owns 20,408 shares of the oil and gas company’s stock worth $3,028,000 after buying an additional 67 shares during the period. Aaron Wealth Advisors LLC grew its holdings in Marathon Petroleum by 4.5% during the 4th quarter. Aaron Wealth Advisors LLC now owns 1,559 shares of the oil and gas company’s stock worth $231,000 after acquiring an additional 67 shares during the last quarter. Mission Wealth Management LP raised its stake in shares of Marathon Petroleum by 0.8% during the fourth quarter. Mission Wealth Management LP now owns 8,756 shares of the oil and gas company’s stock valued at $1,299,000 after acquiring an additional 67 shares during the last quarter. Finally, Empower Advisory Group LLC raised its position in Marathon Petroleum by 1.6% during the 3rd quarter. Empower Advisory Group LLC now owns 4,465 shares of the oil and gas company’s stock worth $676,000 after purchasing an additional 72 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Kim K.W. Rucker sold 1,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $170.35, for a total transaction of $170,350.00. Following the completion of the transaction, the director now directly owns 23,446 shares of the company’s stock, valued at approximately $3,994,026.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

Marathon Petroleum Stock Down 0.2 %

Shares of MPC stock traded down $0.40 during trading hours on Friday, reaching $182.55. The company had a trading volume of 1,868,555 shares, compared to its average volume of 2,394,157. The company has a market cap of $64.32 billion, a price-to-earnings ratio of 9.12, a price-to-earnings-growth ratio of 1.53 and a beta of 1.55. The business has a fifty day simple moving average of $194.18 and a 200-day simple moving average of $168.09. Marathon Petroleum Co. has a 12 month low of $104.32 and a 12 month high of $221.11. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 1.13.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.25. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The firm had revenue of $32.71 billion during the quarter, compared to analyst estimates of $32.07 billion. During the same quarter in the prior year, the business posted $6.09 EPS. The business’s revenue was down 6.2% compared to the same quarter last year. On average, research analysts expect that Marathon Petroleum Co. will post 19.96 earnings per share for the current fiscal year.

Marathon Petroleum declared that its board has authorized a stock repurchase program 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 buy up to 7.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Wednesday, May 15th. Marathon Petroleum’s payout ratio is 16.48%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MPC. TD Cowen increased their target price on shares of Marathon Petroleum from $168.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Barclays lifted their target price on shares of Marathon Petroleum from $168.00 to $221.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. The Goldman Sachs Group increased their price target on Marathon Petroleum from $175.00 to $211.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. StockNews.com raised shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Mizuho reduced their price target on shares of Marathon Petroleum from $202.00 to $200.00 and set a “neutral” rating for the company in a report on Thursday. Five analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $193.62.

Marathon Petroleum 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.