Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC cut its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 3.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,045 shares of the oil and gas company’s stock after selling 121 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Marathon Petroleum were worth $496,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. increased its position in Marathon Petroleum by 4.1% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 10,129 shares of the oil and gas company’s stock worth $1,650,000 after purchasing an additional 396 shares in the last quarter. Global Assets Advisory LLC purchased a new stake in Marathon Petroleum during the third quarter worth approximately $397,000. Great Lakes Retirement Inc. increased its position in shares of Marathon Petroleum by 22.8% in the third quarter. Great Lakes Retirement Inc. now owns 1,640 shares of the oil and gas company’s stock worth $267,000 after acquiring an additional 304 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Marathon Petroleum by 19,153.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company’s stock valued at $213,605,000 after acquiring an additional 1,304,372 shares during the period. Finally, Axecap Investments LLC acquired a new position in shares of Marathon Petroleum during the 3rd quarter valued at $328,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Down 0.7 %

Shares of MPC stock traded down $1.10 during trading hours on Thursday, hitting $152.66. 149,840 shares of the company were exchanged, compared to its average volume of 2,667,970. The stock has a market capitalization of $53.79 billion, a price-to-earnings ratio of 7.68, a P/E/G ratio of 2.65 and a beta of 1.37. Marathon Petroleum Co. has a one year low of $140.98 and a one year high of $221.11. The business’s 50-day simple moving average is $166.48 and its two-hundred day simple moving average is $174.39. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The company had revenue of $38.36 billion for the quarter, compared to the consensus estimate of $36.66 billion. During the same quarter last year, the business posted $5.32 EPS. Marathon Petroleum’s quarterly revenue was up 4.2% compared to the same quarter last year. Sell-side analysts predict that Marathon Petroleum Co. will post 10.22 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were paid a dividend of $0.825 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.30 annualized dividend and a yield of 2.16%. Marathon Petroleum’s payout ratio is 16.48%.

Analysts Set New Price Targets

Several research firms have commented on MPC. Wells Fargo & Company cut their price objective on Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Piper Sandler dropped their target price on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. Barclays reduced their price target on Marathon Petroleum from $180.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Wolfe Research assumed coverage on shares of Marathon Petroleum in a research report on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price objective for the company. Finally, TD Cowen boosted their target price on shares of Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $187.00.

Marathon Petroleum 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.