Financial Insights Inc. Trims Stake in Marathon Petroleum Co. (NYSE:MPC)

Financial Insights Inc. trimmed its stake in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 51.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,109 shares of the oil and gas company's stock after selling 3,337 shares during the quarter. Financial Insights Inc.'s holdings in Marathon Petroleum were worth $506,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FinTrust Capital Advisors LLC lifted its holdings in 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 last quarter. Crewe Advisors LLC purchased a new stake in Marathon Petroleum during the 1st quarter worth about $29,000. TruNorth Capital Management LLC purchased a new stake in Marathon Petroleum during the 2nd quarter worth about $35,000. Industrial Alliance Investment Management Inc. purchased a new stake in Marathon Petroleum during the 2nd quarter worth about $35,000. Finally, Wellington Shields & Co. LLC purchased a new stake in Marathon Petroleum during the 1st quarter worth about $40,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on MPC shares. Bank of America started coverage on Marathon Petroleum in a report on Thursday, October 17th. They set a "neutral" rating and a $174.00 price target for the company. Mizuho decreased their price target on Marathon Petroleum from $198.00 to $193.00 and set a "neutral" rating for the company in a report on Monday, September 16th. Morgan Stanley reduced their target price on Marathon Petroleum from $196.00 to $182.00 and set an "overweight" rating for the company in a report on Monday, September 16th. Jefferies Financial Group boosted their target price on Marathon Petroleum from $222.00 to $231.00 and gave the company a "buy" rating in a report on Monday, July 15th. Finally, Piper Sandler reduced their target price on Marathon Petroleum from $168.00 to $145.00 and set a "neutral" rating for the company in a report on Friday, September 20th. 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 given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $187.00.

Marathon Petroleum Stock Performance

MPC stock traded down $4.48 during trading on Wednesday, hitting $153.76. The company had a trading volume of 3,435,658 shares, compared to its average volume of 2,680,247. The firm has a market cap of $54.17 billion, a PE ratio of 7.68, a price-to-earnings-growth ratio of 2.65 and a beta of 1.37. Marathon Petroleum Co. has a 1-year low of $140.98 and a 1-year high of $221.11. The firm has a 50-day moving average price of $166.48 and a 200-day moving average price of $174.39. 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 (NYSE:MPC - Get Free Report) last issued 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. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The firm had revenue of $38.36 billion for the quarter, compared to analysts' expectations of $36.66 billion. During the same quarter in the previous year, the firm posted $5.32 EPS. The firm's revenue for the quarter was up 4.2% on a year-over-year basis. On average, analysts expect that Marathon Petroleum Co. will post 10.22 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Petroleum's payout ratio is 16.48%.

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.