Morse Asset Management Inc Trims Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Morse Asset Management Inc lessened its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 10.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,522 shares of the oil and gas company’s stock after selling 1,898 shares during the period. Morse Asset Management Inc’s holdings in Marathon Petroleum were worth $2,693,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. FinTrust Capital Advisors LLC raised its position in shares of Marathon Petroleum by 400.0% in the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock worth $25,000 after buying an additional 100 shares in the last quarter. Crewe Advisors LLC purchased a new stake in shares of Marathon Petroleum in the 1st quarter valued at about $29,000. ICA Group Wealth Management LLC bought a new stake in shares of Marathon Petroleum during the 4th quarter valued at about $30,000. Vima LLC purchased a new position in shares of Marathon Petroleum during the fourth quarter worth about $30,000. Finally, TruNorth Capital Management LLC bought a new position in shares of Marathon Petroleum in the second quarter worth approximately $35,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Tudor, Pickering, Holt & Co. cut shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research note on Monday, September 9th. Wells Fargo & Company cut their target price on shares of Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Jefferies Financial Group raised their price target on Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Scotiabank cut their price objective on Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Finally, Tudor Pickering cut Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $197.69.

Marathon Petroleum Stock Down 1.2 %

Shares of Marathon Petroleum stock opened at $164.39 on Monday. 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 Co. has a 52-week low of $139.32 and a 52-week high of $221.11. The company’s 50 day moving average price is $169.99 and its 200-day moving average price is $179.83. The stock has a market capitalization of $57.92 billion, a price-to-earnings ratio of 8.21, a P/E/G ratio of 2.09 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. The business 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 was up 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $5.32 EPS. Equities research analysts forecast that Marathon Petroleum Co. will post 12.68 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Petroleum’s payout ratio is 16.48%.

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.