Mather Group LLC. Has $1.23 Million Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Mather Group LLC. cut its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 19.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,524 shares of the oil and gas company’s stock after selling 1,847 shares during the period. Mather Group LLC.’s holdings in Marathon Petroleum were worth $1,226,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Granite Bay Wealth Management LLC acquired a new position in shares of Marathon Petroleum in the 2nd quarter valued at $219,537,000. Capital Wealth Planning LLC raised its position in Marathon Petroleum by 10,902.9% in the first quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock worth $223,792,000 after purchasing an additional 1,100,536 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Marathon Petroleum by 980.3% during the second quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company’s stock valued at $118,785,000 after purchasing an additional 621,336 shares in the last quarter. Panagora Asset Management Inc. grew its stake in shares of Marathon Petroleum by 64.1% in the 2nd quarter. Panagora Asset Management Inc. now owns 619,049 shares of the oil and gas company’s stock valued at $107,393,000 after purchasing an additional 241,746 shares during the period. Finally, Pacer Advisors Inc. lifted its position in shares of Marathon Petroleum by 8.5% during the 2nd quarter. Pacer Advisors Inc. now owns 2,669,815 shares of the oil and gas company’s stock worth $463,160,000 after buying an additional 209,270 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Trading Down 7.6 %

Shares of MPC opened at $160.02 on Wednesday. The stock’s fifty day simple moving average is $169.71 and its 200-day simple moving average is $178.07. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $56.38 billion, a PE ratio of 7.99, a price-to-earnings-growth ratio of 2.59 and a beta of 1.37. Marathon Petroleum Co. has a 12-month low of $140.98 and a 12-month high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $1.03. The company had revenue of $38.36 billion for the quarter, compared to analyst estimates of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $5.32 EPS. As a group, research analysts predict that Marathon Petroleum Co. will post 10.56 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Petroleum’s payout ratio is 16.48%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MPC. Wells Fargo & Company lowered their price target on Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Tudor, Pickering, Holt & Co. cut shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. Piper Sandler reduced their price target on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th. Tudor Pickering lowered shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 9th. Finally, Morgan Stanley reduced their target price on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $196.14.

Marathon Petroleum Company 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.