Douglas Lane & Associates LLC Has $19.95 Million Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Douglas Lane & Associates LLC lowered its position in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 6.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,477 shares of the oil and gas company's stock after selling 8,749 shares during the quarter. Douglas Lane & Associates LLC's holdings in Marathon Petroleum were worth $19,953,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. FinTrust Capital Advisors LLC boosted its holdings in shares of 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 worth $25,000 after buying an additional 100 shares during the period. Crewe Advisors LLC acquired a new stake in Marathon Petroleum during the first quarter worth about $29,000. Wellington Shields & Co. LLC acquired a new stake in Marathon Petroleum in the first quarter valued at $40,000. TruNorth Capital Management LLC acquired a new stake in Marathon Petroleum during the second quarter worth approximately $35,000. Finally, Industrial Alliance Investment Management Inc. bought a new position in shares of Marathon Petroleum in the 2nd quarter worth $35,000. Institutional investors own 76.77% of the company's stock.

Marathon Petroleum Price Performance

Marathon Petroleum stock traded down $0.59 during mid-day trading on Friday, hitting $164.26. 1,839,445 shares of the company traded hands, compared to its average volume of 2,695,684. The stock has a market cap of $57.87 billion, a price-to-earnings ratio of 8.20, a price-to-earnings-growth ratio of 2.65 and a beta of 1.37. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31. Marathon Petroleum Co. has a one year low of $140.98 and a one year high of $221.11. The stock has a fifty day moving average price of $168.89 and a 200-day moving average price of $177.20.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, beating the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The firm had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. During the same quarter in the prior year, the firm earned $5.32 EPS. The business's revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities analysts predict that Marathon Petroleum Co. will post 10.22 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently announced 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. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum's dividend payout ratio (DPR) is 16.48%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MPC. Morgan Stanley lowered their price objective on Marathon Petroleum from $196.00 to $182.00 and set an "overweight" rating on the stock in a research report on Monday, September 16th. Citigroup cut their target price on Marathon Petroleum from $172.00 to $167.00 and set a "neutral" rating on the stock in a research note on Thursday. JPMorgan Chase & Co. dropped their target price on Marathon Petroleum from $172.00 to $171.00 and set a "neutral" rating on the stock in a research report on Wednesday. TD Cowen raised their price objective on Marathon Petroleum from $187.00 to $190.00 and gave the stock a "buy" rating in a research note on Wednesday, August 7th. Finally, Mizuho reduced their price objective on Marathon Petroleum from $198.00 to $193.00 and set a "neutral" rating on the stock in a research note on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $190.73.

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.