Carret Asset Management LLC Has $1.47 Million Position in Marathon Petroleum Corporation $MPC

Carret Asset Management LLC decreased its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 1.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,824 shares of the oil and gas company’s stock after selling 166 shares during the quarter. Carret Asset Management LLC’s holdings in Marathon Petroleum were worth $1,466,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Activest Wealth Management increased its position in Marathon Petroleum by 290.2% in the second quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 119 shares during the period. CBIZ Investment Advisory Services LLC raised its stake in shares of Marathon Petroleum by 1,546.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock worth $31,000 after buying an additional 201 shares during the last quarter. Hughes Financial Services LLC bought a new position in Marathon Petroleum in the first quarter valued at approximately $32,000. WPG Advisers LLC acquired a new stake in Marathon Petroleum during the 1st quarter worth $32,000. Finally, Operose Advisors LLC bought a new stake in shares of Marathon Petroleum during the 1st quarter valued at $42,000. 76.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MPC has been the topic of several recent research reports. Wells Fargo & Company started coverage on Marathon Petroleum in a research report on Friday, October 17th. They issued an “overweight” rating and a $214.00 price target on the stock. BMO Capital Markets boosted their target price on Marathon Petroleum from $195.00 to $208.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Raymond James Financial reaffirmed an “outperform” rating and issued a $203.00 price target (up from $199.00) on shares of Marathon Petroleum in a research note on Friday, October 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Marathon Petroleum in a research note on Wednesday, October 8th. Finally, TD Cowen lowered their target price on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Marathon Petroleum has an average rating of “Moderate Buy” and a consensus target price of $200.31.

Insider Buying and Selling at Marathon Petroleum

In related news, insider Molly R. Benson sold 10,879 shares of the company’s stock in a transaction dated Friday, August 15th. The stock was 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. This represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.21% of the stock is owned by insiders.

Marathon Petroleum Stock Up 1.7%

MPC stock opened at $195.53 on Thursday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. The stock has a market capitalization of $59.45 billion, a P/E ratio of 29.01, a P/E/G ratio of 4.02 and a beta of 0.90. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $201.61. The business has a 50-day moving average of $185.34 and a 200-day moving average of $168.95.

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

Marathon Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th will be paid a dividend of $1.00 per share. The ex-dividend date is Wednesday, November 19th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.0%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s dividend payout ratio (DPR) is currently 54.01%.

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.