Ingalls & Snyder LLC Decreases Holdings in Marathon Petroleum Corporation $MPC

Ingalls & Snyder LLC cut its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 0.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,599 shares of the oil and gas company’s stock after selling 75 shares during the quarter. Ingalls & Snyder LLC’s holdings in Marathon Petroleum were worth $2,591,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Brighton Jones LLC raised its stake in shares of Marathon Petroleum by 88.7% during the second quarter. Brighton Jones LLC now owns 11,463 shares of the oil and gas company’s stock worth $1,904,000 after acquiring an additional 5,387 shares in the last quarter. MQS Management LLC purchased a new position in shares of Marathon Petroleum during the second quarter worth approximately $247,000. CVA Family Office LLC raised its stake in shares of Marathon Petroleum by 4.7% during the second quarter. CVA Family Office LLC now owns 4,515 shares of the oil and gas company’s stock worth $750,000 after acquiring an additional 203 shares in the last quarter. Focus Partners Advisor Solutions LLC raised its stake in shares of Marathon Petroleum by 33.0% during the second quarter. Focus Partners Advisor Solutions LLC now owns 9,591 shares of the oil and gas company’s stock worth $1,594,000 after acquiring an additional 2,380 shares in the last quarter. Finally, Peterson Wealth Services raised its stake in shares of Marathon Petroleum by 2.3% during the second quarter. Peterson Wealth Services now owns 19,417 shares of the oil and gas company’s stock worth $3,225,000 after acquiring an additional 442 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the sale, the insider owned 28,700 shares in the company, valued at approximately $4,678,100. The trade was a 27.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MPC shares. BMO Capital Markets lifted their target price on shares of Marathon Petroleum from $195.00 to $208.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Mizuho lifted their target price on shares of Marathon Petroleum from $184.00 to $188.00 and gave the stock a “neutral” rating in a research note on Monday, September 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marathon Petroleum in a research note on Saturday. Morgan Stanley lifted their target price on shares of Marathon Petroleum from $182.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, October 3rd. Finally, Dbs Bank raised shares of Marathon Petroleum to a “moderate buy” rating in a research note on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $200.31.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $196.17 on Monday. The stock has a market cap of $59.64 billion, a P/E ratio of 29.10, a price-to-earnings-growth ratio of 4.11 and a beta of 0.90. The firm’s fifty day simple moving average is $183.52 and its 200 day simple moving average is $167.50. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $201.61. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The business had revenue of $34.10 billion for the quarter, compared to analysts’ expectations of $31.70 billion. During the same quarter in the previous year, the business posted $4.12 earnings per share. The firm’s revenue for the quarter was down 11.1% compared to the same quarter last year. As a group, research analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum’s payout ratio is 54.01%.

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.