Spirit of America Management Corp NY Sells 2,200 Shares of Marathon Petroleum Corporation $MPC

Spirit of America Management Corp NY reduced its stake in Marathon Petroleum Corporation (NYSE:MPC) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,575 shares of the oil and gas company’s stock after selling 2,200 shares during the quarter. Marathon Petroleum comprises approximately 1.4% of Spirit of America Management Corp NY’s portfolio, making the stock its 15th biggest holding. Spirit of America Management Corp NY’s holdings in Marathon Petroleum were worth $6,436,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Associated Banc Corp grew its position in Marathon Petroleum by 2.1% in the third quarter. Associated Banc Corp now owns 2,475 shares of the oil and gas company’s stock worth $477,000 after acquiring an additional 52 shares in the last quarter. CoreCap Advisors LLC boosted its stake in Marathon Petroleum by 2.6% in the third quarter. CoreCap Advisors LLC now owns 2,363 shares of the oil and gas company’s stock worth $456,000 after buying an additional 59 shares in the last quarter. CI Investments Inc. grew its position in Marathon Petroleum by 1.8% during the third quarter. CI Investments Inc. now owns 3,336 shares of the oil and gas company’s stock valued at $643,000 after acquiring an additional 60 shares during the last quarter. CVA Family Office LLC boosted its stake in shares of Marathon Petroleum by 1.3% in the 4th quarter. CVA Family Office LLC now owns 4,569 shares of the oil and gas company’s stock valued at $743,000 after purchasing an additional 60 shares in the last quarter. Finally, FSM Wealth Advisors LLC grew its holdings in shares of Marathon Petroleum by 1.6% during the 3rd quarter. FSM Wealth Advisors LLC now owns 3,944 shares of the oil and gas company’s stock valued at $760,000 after purchasing an additional 63 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 2.6%

Shares of NYSE MPC opened at $245.28 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 1.27. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $255.77. The firm has a market capitalization of $72.23 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 0.53 and a beta of 0.69. The firm has a fifty day simple moving average of $207.07 and a two-hundred day simple moving average of $192.87.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share for the quarter, beating analysts’ consensus estimates of $3.73 by $0.34. Marathon Petroleum had a net margin of 2.99% and a return on equity of 13.90%. The firm had revenue of $32.57 billion for the quarter, compared to analyst estimates of $30.89 billion. During the same quarter in the previous year, the firm posted $0.77 EPS. The company’s revenue for the quarter was down .1% compared to the same quarter last year. Equities analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 18th were given a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $4.00 annualized dividend and a dividend yield of 1.6%. Marathon Petroleum’s dividend payout ratio is currently 29.96%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MPC. TD Cowen raised their price target on Marathon Petroleum from $183.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Citigroup upped their price objective on shares of Marathon Petroleum from $182.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Jefferies Financial Group dropped their target price on shares of Marathon Petroleum from $216.00 to $205.00 and set a “buy” rating for the company in a report on Monday, January 26th. Wells Fargo & Company raised their target price on Marathon Petroleum from $213.00 to $217.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. Finally, Barclays reduced their price target on Marathon Petroleum from $202.00 to $194.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $209.19.

Insider Activity at Marathon Petroleum

In other news, insider Ricky D. Hessling sold 1,810 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $224.78, for a total value of $406,851.80. Following the completion of the transaction, the insider owned 10,188 shares in the company, valued at $2,290,058.64. This trade represents a 15.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 4,473 shares of company stock valued at $1,015,428. Company insiders own 0.17% of the company’s stock.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.