Raymond James & Associates Lowers Stake in Marathon Petroleum Co. (NYSE:MPC)

Raymond James & Associates trimmed its holdings in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 9.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,863,182 shares of the oil and gas company's stock after selling 423,710 shares during the quarter. Raymond James & Associates owned about 1.10% of Marathon Petroleum worth $629,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Fisher Asset Management LLC grew its position in Marathon Petroleum by 22.9% during the 4th quarter. Fisher Asset Management LLC now owns 7,451 shares of the oil and gas company's stock valued at $1,105,000 after purchasing an additional 1,386 shares during the last quarter. American National Bank grew its position in Marathon Petroleum by 263.2% during the 1st quarter. American National Bank now owns 276 shares of the oil and gas company's stock valued at $56,000 after purchasing an additional 200 shares during the last quarter. RFG Advisory LLC boosted its holdings in shares of Marathon Petroleum by 32.9% during the 1st quarter. RFG Advisory LLC now owns 15,156 shares of the oil and gas company's stock valued at $3,054,000 after acquiring an additional 3,755 shares during the last quarter. MJP Associates Inc. ADV purchased a new stake in shares of Marathon Petroleum during the 1st quarter valued at about $256,000. Finally, &PARTNERS boosted its holdings in shares of Marathon Petroleum by 193.5% during the 1st quarter. &PARTNERS now owns 5,714 shares of the oil and gas company's stock valued at $1,151,000 after acquiring an additional 3,767 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Citigroup dropped their price target on shares of Marathon Petroleum from $172.00 to $167.00 and set a "neutral" rating on the stock in a report on Thursday, October 10th. Bank of America assumed coverage on shares of Marathon Petroleum in a report on Thursday. They set a "neutral" rating and a $174.00 price target on the stock. Mizuho dropped their price target on shares of Marathon Petroleum from $198.00 to $193.00 and set a "neutral" rating on the stock in a report on Monday, September 16th. Morgan Stanley dropped their price objective on shares of Marathon Petroleum from $196.00 to $182.00 and set an "overweight" rating on the stock in a report on Monday, September 16th. Finally, Tudor Pickering downgraded shares of Marathon Petroleum from a "strong-buy" rating to a "strong sell" rating in a report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Marathon Petroleum presently has a consensus rating of "Moderate Buy" and a consensus price target of $187.00.

Marathon Petroleum Stock Performance

NYSE MPC traded down $0.01 on Friday, reaching $158.30. 2,214,886 shares of the stock were exchanged, compared to its average volume of 2,682,881. Marathon Petroleum Co. has a one year low of $140.98 and a one year high of $221.11. The firm has a market capitalization of $55.77 billion, a PE ratio of 7.91, a PEG ratio of 2.65 and a beta of 1.37. The company's 50-day simple moving average is $167.72 and its two-hundred day simple moving average is $175.65. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $38.36 billion for the quarter, compared to analysts' expectations 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 for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $5.32 earnings per share. Analysts expect that Marathon Petroleum Co. will post 10.22 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were given a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 2.08%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum's dividend payout ratio is presently 16.48%.

About Marathon Petroleum

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.