Venturi Wealth Management LLC Sells 4,639 Shares of Marathon Petroleum Co. (NYSE:MPC)

Venturi Wealth Management LLC decreased its position in Marathon Petroleum Co. (NYSE:MPC) by 64.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,585 shares of the oil and gas company’s stock after selling 4,639 shares during the period. Venturi Wealth Management LLC’s holdings in Marathon Petroleum were worth $421,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Crewe Advisors LLC acquired a new stake in shares of Marathon Petroleum in the first quarter valued at about $29,000. Harbor Capital Advisors Inc. acquired a new position in Marathon Petroleum in the third quarter valued at about $30,000. TruNorth Capital Management LLC bought a new position in Marathon Petroleum in the second quarter valued at approximately $35,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of Marathon Petroleum during the 2nd quarter worth $35,000. Finally, Wellington Shields & Co. LLC acquired a new stake in Marathon Petroleum in the first quarter valued at approximately $40,000. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $155.19 on Wednesday. The company has a market capitalization of $49.88 billion, a P/E ratio of 12.30, a P/E/G ratio of 2.75 and a beta of 1.38. The business has a fifty day simple moving average of $160.06 and a two-hundred day simple moving average of $169.17. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.90. Marathon Petroleum Co. has a 1 year low of $140.98 and a 1 year high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.90. The firm had revenue of $35.37 billion during the quarter, compared to the consensus estimate of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The company’s revenue was down 14.9% on a year-over-year basis. During the same quarter last year, the company earned $8.14 earnings per share. On average, analysts expect that Marathon Petroleum Co. will post 9.41 earnings per share for the current year.

Marathon Petroleum declared that its Board of Directors has approved a stock repurchase plan on Tuesday, November 5th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas company to reacquire up to 10% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a $0.91 dividend. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Wednesday, November 20th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 28.84%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Tudor, Pickering, Holt & Co. cut shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research note on Monday, September 9th. Wolfe Research began coverage on shares of Marathon Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price objective for the company. Barclays reduced their price target on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a report on Monday. BMO Capital Markets dropped their price objective on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Finally, JPMorgan Chase & Co. dropped their price target on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $185.07.

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.