Shufro Rose & Co. LLC Reduces Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Shufro Rose & Co. LLC cut its holdings in shares of Marathon Petroleum Co. (NYSE:MPC – Get Rating) by 46.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,072 shares of the oil and gas company’s stock after selling 8,000 shares during the quarter. Shufro Rose & Co. LLC’s holdings in Marathon Petroleum were worth $776,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new position in shares of Marathon Petroleum in the 4th quarter worth approximately $10,039,000. CWM LLC acquired a new position in shares of Marathon Petroleum in the 4th quarter worth approximately $718,000. Nomura Asset Management Co. Ltd. grew its position in shares of Marathon Petroleum by 4.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 150,387 shares of the oil and gas company’s stock worth $9,623,000 after acquiring an additional 5,776 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Marathon Petroleum by 3.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 6,885 shares of the oil and gas company’s stock worth $441,000 after acquiring an additional 259 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in shares of Marathon Petroleum by 21.8% in the 4th quarter. Fifth Third Bancorp now owns 436,648 shares of the oil and gas company’s stock worth $27,941,000 after acquiring an additional 78,083 shares in the last quarter. 80.91% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Up 0.1 %

Shares of Marathon Petroleum stock opened at $90.22 on Friday. The firm has a market capitalization of $44.99 billion, a PE ratio of 6.10, a price-to-earnings-growth ratio of 0.20 and a beta of 1.76. Marathon Petroleum Co. has a 12-month low of $53.47 and a 12-month high of $114.35. The company has a quick ratio of 1.07, a current ratio of 1.49 and a debt-to-equity ratio of 0.79. The stock’s fifty day moving average is $91.74 and its 200-day moving average is $86.18.

Marathon Petroleum (NYSE:MPC – Get Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The oil and gas company reported $10.61 earnings per share for the quarter, beating the consensus estimate of $4.98 by $5.63. The firm had revenue of $54.33 billion for the quarter, compared to analyst estimates of $44.26 billion. Marathon Petroleum had a return on equity of 23.85% and a net margin of 5.09%. Marathon Petroleum’s quarterly revenue was up 82.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.67 earnings per share. Equities analysts anticipate that Marathon Petroleum Co. will post 20.54 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Wednesday, August 17th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.57%. The ex-dividend date is Tuesday, August 16th. Marathon Petroleum’s payout ratio is 15.68%.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, VP Raymond L. Brooks sold 133,857 shares of the business’s stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $96.82, for a total value of $12,960,034.74. Following the transaction, the vice president now owns 63,248 shares in the company, valued at $6,123,671.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.28% of the company’s stock.

Analyst Upgrades and Downgrades

MPC has been the subject of a number of analyst reports. The Goldman Sachs Group lowered Marathon Petroleum from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $90.00 to $102.00 in a research report on Monday, May 16th. Morgan Stanley boosted their price objective on Marathon Petroleum from $115.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, July 15th. Citigroup boosted their price objective on Marathon Petroleum from $85.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, April 26th. Wells Fargo & Company reduced their price target on Marathon Petroleum from $129.00 to $117.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Piper Sandler boosted their price target on Marathon Petroleum from $106.00 to $111.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 19th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $112.83.

Marathon Petroleum Profile

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Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. 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.