Advisors Capital Management LLC Sells 3,143 Shares of Marathon Petroleum Corporation $MPC
Advisors Capital Management LLC lessened its stake in Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 45.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,734 shares of the oil and gas company’s stock after selling 3,143 shares during the period. Advisors Capital Management LLC’s holdings in Marathon Petroleum were worth $620,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Activest Wealth Management grew its holdings in shares of Marathon Petroleum by 290.2% in the 2nd 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 last quarter. CBIZ Investment Advisory Services LLC grew its stake in 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. WPG Advisers LLC acquired a new stake in shares of Marathon Petroleum during the first quarter worth approximately $32,000. NewSquare Capital LLC boosted its holdings in shares of Marathon Petroleum by 103.1% in the 2nd quarter. NewSquare Capital LLC now owns 199 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 101 shares in the last quarter. Finally, Stone House Investment Management LLC grew its position in Marathon Petroleum by 46.1% during the 2nd quarter. Stone House Investment Management LLC now owns 225 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 71 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.
Marathon Petroleum Stock Performance
MPC opened at $199.91 on Friday. The business’s fifty day moving average is $189.65 and its 200-day moving average is $174.27. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $202.30. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.79 and a current ratio of 1.32. The firm has a market cap of $60.09 billion, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 3.88 and a beta of 0.90.
Marathon Petroleum (NYSE:MPC — Get Free Report) last posted its earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.01. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. The firm had revenue of $34.81 billion during the quarter, compared to analysts’ expectations of $31.06 billion. Sell-side analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.
Marathon Petroleum Increases Dividend
The business 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 $1.00 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s dividend payout ratio (DPR) is presently 38.81%.
Analyst Upgrades and Downgrades
MPC has been the subject of a number of research reports. UBS Group raised their target price on Marathon Petroleum from $203.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Evercore ISI upped their target price on shares of Marathon Petroleum from $170.00 to $210.00 and gave the company an “in-line” rating in a research report on Friday, September 19th. Wall Street Zen upgraded shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Mizuho lifted their target price on Marathon Petroleum from $184.00 to $188.00 and gave the stock a “neutral” rating in a report on Monday, September 15th. Finally, Morgan Stanley upped their price target on shares of Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. Eight research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Marathon Petroleum has an average rating of “Hold” and an average target price of $201.57.
Read Our Latest Analysis on MPC
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.
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