CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Has $15.42 Million Holdings in Marathon Petroleum Co. (NYSE:MPC)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lowered its stake in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 26.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 94,661 shares of the oil and gas company's stock after selling 33,629 shares during the quarter. Marathon Petroleum comprises approximately 1.1% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's investment portfolio, making the stock its 21st biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings in Marathon Petroleum were worth $15,421,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. FinTrust Capital Advisors LLC lifted its position in shares of Marathon Petroleum by 400.0% in the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Crewe Advisors LLC bought a new stake in Marathon Petroleum during the first quarter worth $29,000. Wellington Shields & Co. LLC bought a new stake in Marathon Petroleum during the first quarter worth $40,000. TruNorth Capital Management LLC bought a new stake in Marathon Petroleum during the second quarter worth $35,000. Finally, Industrial Alliance Investment Management Inc. bought a new stake in Marathon Petroleum during the second quarter worth $35,000. Institutional investors own 76.77% of the company's stock.

Wall Street Analyst Weigh In

MPC has been the topic of several analyst reports. Barclays dropped their price target on shares of Marathon Petroleum from $180.00 to $168.00 and set an "overweight" rating on the stock in a research report on Thursday, October 10th. Tudor, Pickering, Holt & Co. downgraded shares of Marathon Petroleum from a "buy" rating to a "sell" rating in a report on Monday, September 9th. Citigroup decreased their price objective 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. Morgan Stanley decreased their price target on shares of Marathon Petroleum from $196.00 to $182.00 and set an "overweight" rating on the stock in a research note on Monday, September 16th. Finally, Mizuho decreased their price target on shares of 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 analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $187.00.

Marathon Petroleum Price Performance

Shares of MPC stock traded up $1.33 on Tuesday, reaching $158.24. The company had a trading volume of 1,732,505 shares, compared to its average volume of 2,676,535. The stock has a market capitalization of $55.75 billion, a PE ratio of 7.90, a price-to-earnings-growth ratio of 2.65 and a beta of 1.37. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. Marathon Petroleum Co. has a one year low of $140.98 and a one year high of $221.11. The business's 50-day moving average is $166.98 and its 200 day moving average is $174.53.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, topping analysts' consensus estimates of $3.09 by $1.03. The firm had revenue of $38.36 billion during 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 business's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.32 earnings per share. Equities research analysts forecast that Marathon Petroleum Co. will post 10.22 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were issued a $0.825 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.09%. Marathon Petroleum's dividend payout ratio (DPR) is currently 16.48%.

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.