Princeton Global Asset Management LLC Decreases Holdings in Marathon Petroleum Corporation $MPC

Princeton Global Asset Management LLC trimmed its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 1.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,653 shares of the oil and gas company’s stock after selling 288 shares during the period. Princeton Global Asset Management LLC’s holdings in Marathon Petroleum were worth $4,095,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Baker Tilly Wealth Management LLC boosted its position in Marathon Petroleum by 2.8% during the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company’s stock worth $370,000 after purchasing an additional 60 shares during the period. CHICAGO TRUST Co NA boosted its position in Marathon Petroleum by 3.9% during the 2nd quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company’s stock worth $280,000 after purchasing an additional 63 shares during the period. Werba Rubin Papier Wealth Management lifted its holdings in Marathon Petroleum by 4.2% in the 2nd quarter. Werba Rubin Papier Wealth Management now owns 1,577 shares of the oil and gas company’s stock worth $262,000 after buying an additional 64 shares in the last quarter. Sunpointe LLC lifted its holdings in Marathon Petroleum by 4.1% in the 2nd quarter. Sunpointe LLC now owns 1,750 shares of the oil and gas company’s stock worth $291,000 after buying an additional 69 shares in the last quarter. Finally, BKM Wealth Management LLC lifted its holdings in Marathon Petroleum by 1.2% in the 2nd quarter. BKM Wealth Management LLC now owns 6,853 shares of the oil and gas company’s stock worth $1,138,000 after buying an additional 78 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $184.14 on Monday. The firm has a market cap of $55.98 billion, a PE ratio of 27.32, a price-to-earnings-growth ratio of 2.87 and a beta of 0.90. The firm’s 50-day simple moving average is $180.61 and its 200-day simple moving average is $165.13. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $201.61.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The business had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. During the same quarter in the prior year, the business posted $4.12 EPS. The company’s revenue for the quarter was down 11.1% on a year-over-year basis. Equities analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio is currently 54.01%.

Insider Buying and Selling at Marathon Petroleum

In related news, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the sale, the insider owned 28,700 shares of the company’s stock, valued at $4,678,100. This represents a 27.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on MPC shares. Scotiabank reiterated an “outperform” rating on shares of Marathon Petroleum in a report on Thursday, October 9th. TD Cowen cut their price objective on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Citigroup boosted their price objective on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Wolfe Research lowered shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a report on Monday, July 14th. Finally, Wells Fargo & Company initiated coverage on shares of Marathon Petroleum in a report on Friday. They issued an “overweight” rating and a $214.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $200.31.

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.