Marathon Petroleum Co. (NYSE:MPC) Stock Position Reduced by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. trimmed its position in Marathon Petroleum Co. (NYSE:MPC) by 7.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,342 shares of the oil and gas company’s stock after selling 763 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Marathon Petroleum were worth $1,622,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James & Associates raised its holdings in shares of Marathon Petroleum by 2.6% during the second quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company’s stock worth $743,690,000 after purchasing an additional 107,915 shares during the period. Norges Bank acquired a new stake in Marathon Petroleum during the fourth quarter worth about $500,685,000. Price T Rowe Associates Inc. MD lifted its holdings in Marathon Petroleum by 1.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company’s stock worth $620,815,000 after acquiring an additional 31,100 shares during the last quarter. Boston Partners boosted its stake in Marathon Petroleum by 0.3% in the first quarter. Boston Partners now owns 2,773,050 shares of the oil and gas company’s stock valued at $558,390,000 after acquiring an additional 8,476 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in shares of Marathon Petroleum by 7.6% during the first quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company’s stock valued at $335,241,000 after purchasing an additional 117,790 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Down 1.6 %

MPC opened at $161.01 on Tuesday. The stock’s fifty day moving average is $169.90 and its 200-day moving average is $180.10. The company has a market capitalization of $56.73 billion, a PE ratio of 8.04, a P/E/G ratio of 2.09 and a beta of 1.38. Marathon Petroleum Co. has a one year low of $139.32 and a one year high of $221.11. 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 (NYSE:MPC) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The company had revenue of $38.36 billion during the quarter, compared to the consensus estimate of $36.66 billion. During the same period in the prior year, the company earned $5.32 EPS. Marathon Petroleum’s revenue was up 4.2% on a year-over-year basis. On average, equities analysts predict that Marathon Petroleum Co. will post 12.68 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Petroleum’s payout ratio is 16.48%.

Wall Street Analysts Forecast Growth

MPC has been the subject of a number of analyst reports. Piper Sandler reduced their price objective on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a research report on Friday, June 14th. TD Cowen upped their price target on shares of Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Wells Fargo & Company reduced 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 note on Friday, July 12th. Raymond James decreased their target price on shares of Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating for the company in a research report on Thursday, May 30th. Finally, JPMorgan Chase & Co. reduced their price objective on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Marathon Petroleum has an average rating of “Hold” and an average target price of $199.46.

About Marathon Petroleum

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.