Moneta Group Investment Advisors LLC trimmed its position in shares of Marathon Petroleum Corp (NYSE:MPC) by 95.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 389 shares of the oil and gas company’s stock after selling 7,765 shares during the quarter. Moneta Group Investment Advisors LLC’s holdings in Marathon Petroleum were worth $318,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. Wealthcare Advisory Partners LLC boosted its stake in Marathon Petroleum by 345.6% during the second quarter. Wealthcare Advisory Partners LLC now owns 508 shares of the oil and gas company’s stock worth $28,000 after buying an additional 394 shares during the period. AllSquare Wealth Management LLC acquired a new position in Marathon Petroleum in the first quarter valued at approximately $32,000. Tarbox Family Office Inc. lifted its holdings in Marathon Petroleum by 51.5% in the second quarter. Tarbox Family Office Inc. now owns 568 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 193 shares during the period. Next Capital Management LLC acquired a new position in shares of Marathon Petroleum during the 2nd quarter worth approximately $35,000. Finally, Farmers National Bank acquired a new position in shares of Marathon Petroleum during the 1st quarter worth approximately $36,000. 76.76% of the stock is currently owned by institutional investors.
Marathon Petroleum stock traded down $0.90 during midday trading on Thursday, reaching $53.21. 323,048 shares of the stock traded hands, compared to its average volume of 6,595,527. The company has a current ratio of 1.24, a quick ratio of 0.63 and a debt-to-equity ratio of 0.69. The firm has a market cap of $35.87 billion, a PE ratio of 7.86, a price-to-earnings-growth ratio of 1.32 and a beta of 1.69. The company has a 50-day simple moving average of $50.34 and a two-hundred day simple moving average of $54.81. Marathon Petroleum Corp has a 12-month low of $43.96 and a 12-month high of $88.45.
Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Thursday, August 1st. The oil and gas company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.40. The company had revenue of $33.70 billion for the quarter, compared to analyst estimates of $33.26 billion. Marathon Petroleum had a return on equity of 9.55% and a net margin of 2.36%. Marathon Petroleum’s revenue for the quarter was up 50.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.27 EPS. Equities research analysts anticipate that Marathon Petroleum Corp will post 4.08 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date was Tuesday, August 20th. Marathon Petroleum’s dividend payout ratio is currently 31.27%.
Several research analysts have recently weighed in on the company. Morgan Stanley reduced their target price on Marathon Petroleum from $82.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, May 17th. Zacks Investment Research downgraded Marathon Petroleum from a “hold” rating to a “strong sell” rating in a research note on Friday, May 17th. Jefferies Financial Group started coverage on Marathon Petroleum in a report on Tuesday, September 3rd. They issued a “buy” rating and a $75.00 target price for the company. JPMorgan Chase & Co. dropped their target price on Marathon Petroleum from $74.00 to $62.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Raymond James upped their target price on Marathon Petroleum from $72.00 to $75.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $80.27.
About Marathon Petroleum
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.
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