Meyer Handelman Co. Sells 3,610 Shares of Marathon Petroleum Corporation $MPC

Meyer Handelman Co. decreased its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 1.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 237,926 shares of the oil and gas company’s stock after selling 3,610 shares during the period. Marathon Petroleum accounts for 1.5% of Meyer Handelman Co.’s portfolio, making the stock its 17th largest position. Meyer Handelman Co. owned approximately 0.08% of Marathon Petroleum worth $45,858,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Concord Asset Management LLC VA purchased a new position in shares of Marathon Petroleum in the 2nd quarter worth about $412,000. Jump Financial LLC increased its stake in Marathon Petroleum by 128.0% during the 1st quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company’s stock valued at $1,262,000 after purchasing an additional 4,863 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in Marathon Petroleum by 459.5% in the second quarter. Los Angeles Capital Management LLC now owns 189,973 shares of the oil and gas company’s stock worth $31,556,000 after buying an additional 156,019 shares during the last quarter. FSM Wealth Advisors LLC bought a new position in shares of Marathon Petroleum in the second quarter worth approximately $685,000. Finally, Greatmark Investment Partners Inc. grew its holdings in shares of Marathon Petroleum by 2.9% during the second quarter. Greatmark Investment Partners Inc. now owns 168,603 shares of the oil and gas company’s stock valued at $28,007,000 after buying an additional 4,820 shares during the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MPC has been the subject of a number of recent analyst reports. Raymond James Financial decreased their price objective on shares of Marathon Petroleum from $215.00 to $205.00 and set an “outperform” rating for the company in a report on Monday, December 22nd. Wall Street Zen cut Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Morgan Stanley upped their price target on Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. Piper Sandler lifted their price objective on Marathon Petroleum from $220.00 to $231.00 and gave the stock a “neutral” rating in a report on Friday, November 14th. Finally, Barclays lifted their price target on shares of Marathon Petroleum from $194.00 to $202.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. Eight investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $203.07.

Marathon Petroleum Trading Down 1.2%

Marathon Petroleum stock opened at $163.72 on Friday. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $202.29. The company has a market cap of $49.21 billion, a P/E ratio of 17.45, a P/E/G ratio of 0.87 and a beta of 0.72. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 1.31. The business has a 50-day simple moving average of $187.86 and a two-hundred day simple moving average of $180.07.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.00 by $0.01. The company had revenue of $34.81 billion for the quarter, compared to the consensus estimate of $31.06 billion. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. Analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Wednesday, November 19th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s payout ratio is presently 42.64%.

Marathon Petroleum 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.