Meyer Handelman Co. Sells 7,195 Shares of Marathon Petroleum Co. (NYSE:MPC)

Meyer Handelman Co. lessened its holdings in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 2.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 242,166 shares of the oil and gas company's stock after selling 7,195 shares during the period. Marathon Petroleum comprises 1.3% of Meyer Handelman Co.'s investment portfolio, making the stock its 24th biggest holding. Meyer Handelman Co. owned 0.07% of Marathon Petroleum worth $39,451,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in MPC. Sanibel Captiva Trust Company Inc. purchased a new position in Marathon Petroleum during the fourth quarter worth about $10,320,000. V Square Quantitative Management LLC increased its position in shares of Marathon Petroleum by 44.5% during the fourth quarter. V Square Quantitative Management LLC now owns 5,939 shares of the oil and gas company's stock valued at $881,000 after acquiring an additional 1,828 shares during the last quarter. Garde Capital Inc. bought a new stake in Marathon Petroleum during the fourth quarter worth $165,000. Raleigh Capital Management Inc. boosted its position in Marathon Petroleum by 5.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 1,492 shares of the oil and gas company's stock worth $221,000 after purchasing an additional 77 shares during the last quarter. Finally, Scarborough Advisors LLC grew its stake in Marathon Petroleum by 10.7% in the 4th quarter. Scarborough Advisors LLC now owns 2,174 shares of the oil and gas company's stock valued at $323,000 after purchasing an additional 210 shares during the period. Institutional investors own 76.77% of the company's stock.

Marathon Petroleum Price Performance

MPC traded down $0.59 during midday trading on Friday, hitting $164.26. The stock had a trading volume of 1,839,445 shares, compared to its average volume of 2,695,684. Marathon Petroleum Co. has a 1 year low of $140.98 and a 1 year high of $221.11. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31. The business has a fifty day moving average of $168.89 and a 200 day moving average of $177.34. The company has a market cap of $57.87 billion, a P/E ratio of 8.20, a price-to-earnings-growth ratio of 2.65 and a beta of 1.37.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $1.03. The business had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The company's revenue 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. As a group, equities analysts forecast that Marathon Petroleum Co. will post 10.22 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were issued a dividend of $0.825 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.30 dividend on an annualized basis and a yield of 2.01%. Marathon Petroleum's dividend payout ratio is currently 16.48%.

Analyst Upgrades and Downgrades

MPC has been the subject of several research reports. BMO Capital Markets reduced their price target on shares of Marathon Petroleum from $200.00 to $190.00 and set an "outperform" rating for the company in a research report on Friday, October 4th. Jefferies Financial Group upped their price objective on Marathon Petroleum from $222.00 to $231.00 and gave the company a "buy" rating in a research note on Monday, July 15th. Wolfe Research assumed coverage on Marathon Petroleum in a research report on Thursday, July 18th. They issued an "outperform" rating and a $200.00 target price for the company. Wells Fargo & Company cut their price target on Marathon Petroleum from $196.00 to $183.00 and set an "overweight" rating for the company in a research note on Wednesday. Finally, Tudor Pickering cut Marathon Petroleum from a "strong-buy" rating to a "strong sell" rating in a research note on Monday, September 9th. Two investment 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. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $190.73.

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.