Marathon Petroleum Corporation $MPC Stock Position Trimmed by Spirit of America Management Corp NY

Spirit of America Management Corp NY lowered its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 18.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,725 shares of the oil and gas company’s stock after selling 10,150 shares during the period. Marathon Petroleum comprises 1.6% of Spirit of America Management Corp NY’s holdings, making the stock its 10th largest position. Spirit of America Management Corp NY’s holdings in Marathon Petroleum were worth $7,595,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Activest Wealth Management boosted 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 last quarter. CBIZ Investment Advisory Services LLC boosted its position in Marathon Petroleum by 1,546.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 201 shares during the last quarter. Hughes Financial Services LLC purchased a new position in Marathon Petroleum in the first quarter worth $32,000. WPG Advisers LLC purchased a new position in Marathon Petroleum in the first quarter worth $32,000. Finally, Decker Retirement Planning Inc. boosted its position in Marathon Petroleum by 1,621.4% in the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 227 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

MPC has been the topic of several research analyst reports. Raymond James Financial reissued an “outperform” rating and issued a $203.00 price objective (up previously from $199.00) on shares of Marathon Petroleum in a research report on Friday. BMO Capital Markets upped their price target on Marathon Petroleum from $195.00 to $208.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Mizuho upped their price target on Marathon Petroleum from $184.00 to $188.00 and gave the company a “neutral” rating in a research report on Monday, September 15th. Citigroup upped their price target on Marathon Petroleum from $144.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Finally, TD Cowen dropped their price target on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $200.31.

Marathon Petroleum Stock Performance

Shares of MPC opened at $184.14 on Friday. The stock’s 50-day simple moving average is $180.61 and its 200 day simple moving average is $164.76. The stock has a market capitalization of $55.98 billion, a price-to-earnings ratio of 27.32, a price-to-earnings-growth ratio of 2.83 and a beta of 0.90. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $201.61.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.74. The business 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 firm’s quarterly revenue was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.12 EPS. Research analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a yield of 2.0%. Marathon Petroleum’s dividend payout ratio is 54.01%.

Insider Transactions at Marathon Petroleum

In related news, insider Molly R. Benson sold 10,879 shares of the 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 of the company’s stock, valued at approximately $4,678,100. This represents a 27.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.21% of the company’s stock.

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.