Valley National Advisers Inc. Trims Holdings in Marathon Petroleum Co. (NYSE:MPC)

Valley National Advisers Inc. lowered its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 29.6% in the third quarter, HoldingsChannel reports. The fund owned 639 shares of the oil and gas company’s stock after selling 269 shares during the quarter. Valley National Advisers Inc.’s holdings in Marathon Petroleum were worth $39,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in Marathon Petroleum during the 2nd quarter worth approximately $25,000. Jacobi Capital Management LLC boosted its stake in shares of Marathon Petroleum by 131.0% during the 2nd quarter. Jacobi Capital Management LLC now owns 462 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 262 shares during the last quarter. Activest Wealth Management boosted its stake in shares of Marathon Petroleum by 99.6% during the 3rd quarter. Activest Wealth Management now owns 481 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 240 shares during the last quarter. Capital Directions Investment Advisors LLC bought a new position in Marathon Petroleum during the third quarter worth $31,000. Finally, Mark Sheptoff Financial Planning LLC bought a new position in Marathon Petroleum during the second quarter worth $38,000. 76.76% of the stock is owned by institutional investors.

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group cut Marathon Petroleum from a “conviction-buy” rating to a “buy” rating in a research note on Wednesday, November 3rd. Piper Sandler raised their price target on Marathon Petroleum from $66.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, September 16th. Cowen lifted their target price on Marathon Petroleum from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, December 28th. Citigroup lifted their target price on Marathon Petroleum from $67.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, October 7th. Finally, Barclays increased their price target on Marathon Petroleum from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Marathon Petroleum has a consensus rating of “Buy” and a consensus target price of $73.43.

Marathon Petroleum stock traded up $0.71 during trading on Friday, hitting $73.83. The stock had a trading volume of 47,925 shares, compared to its average volume of 6,079,398. Marathon Petroleum Co. has a 1 year low of $42.32 and a 1 year high of $74.14. The company has a quick ratio of 1.48, a current ratio of 2.02 and a debt-to-equity ratio of 0.78. The stock’s 50 day moving average is $64.67 and its two-hundred day moving average is $61.48. The stock has a market cap of $45.45 billion, a price-to-earnings ratio of 5.22, a price-to-earnings-growth ratio of 0.62 and a beta of 2.09.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Monday, November 1st. The oil and gas company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The business had revenue of $32.61 billion for the quarter, compared to analysts’ expectations of $17.12 billion. Marathon Petroleum had a net margin of 8.85% and a return on equity of 0.50%. During the same quarter in the previous year, the firm posted ($1.00) EPS. As a group, equities research analysts anticipate that Marathon Petroleum Co. will post 1.69 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 10th. Shareholders of record on Wednesday, November 17th were given a dividend of $0.58 per share. The ex-dividend date was Tuesday, November 16th. This represents a $2.32 annualized dividend and a yield of 3.14%. Marathon Petroleum’s payout ratio is 16.56%.

In other news, Director Charles E. Bunch bought 1,000 shares of the company’s stock in a transaction dated Wednesday, November 24th. The stock was bought at an average cost of $64.30 per share, for a total transaction of $64,300.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.30% of the company’s stock.

Marathon Petroleum Profile

Marathon Petroleum Corp. is an independent company, which engages in refining, marketing, and transportation of petroleum products in the United States. Itoperates through the following segments: Refining and Marketing; Retail; and Midstream. The Refining and Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States; purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals, and trucks that the company owns or operates.

Featured Story: Holder of Record

Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Co. (NYSE:MPC).

Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

Receive News & Ratings for Marathon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.