Marathon Petroleum Corporation $MPC Stock Position Lowered by Cerity Partners LLC

Cerity Partners LLC lowered its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 2.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 180,637 shares of the oil and gas company’s stock after selling 5,138 shares during the period. Cerity Partners LLC’s holdings in Marathon Petroleum were worth $30,006,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Activest Wealth Management lifted its holdings in Marathon Petroleum by 290.2% in the 2nd quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 119 shares during the last quarter. NewSquare Capital LLC raised 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 purchasing an additional 101 shares in the last quarter. WPG Advisers LLC acquired a new stake in Marathon Petroleum during the first quarter valued at approximately $32,000. Stone House Investment Management LLC boosted its holdings in Marathon Petroleum by 46.1% during the second quarter. Stone House Investment Management LLC now owns 225 shares of the oil and gas company’s stock worth $37,000 after buying an additional 71 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in Marathon Petroleum in the second quarter worth approximately $38,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Down 0.6%

NYSE:MPC opened at $189.43 on Tuesday. The business’s fifty day moving average price is $191.37 and its 200 day moving average price is $178.82. The firm has a market capitalization of $56.94 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 0.98 and a beta of 0.72. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $202.29.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.01. The company had revenue of $34.81 billion for the quarter, compared to the consensus estimate of $31.06 billion. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%. On average, sell-side analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th will be paid a dividend of $1.00 per share. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.1%. Marathon Petroleum’s dividend payout ratio (DPR) is 42.64%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Wall Street Zen upgraded Marathon Petroleum from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. BMO Capital Markets upped their target price on Marathon Petroleum from $208.00 to $210.00 in a report on Tuesday, November 11th. JPMorgan Chase & Co. increased their price target on Marathon Petroleum from $183.00 to $211.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. Scotiabank restated an “outperform” rating on shares of Marathon Petroleum in a report on Thursday, October 9th. Finally, Barclays upped their price objective on shares of Marathon Petroleum from $194.00 to $202.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $203.21.

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.