Moors & Cabot Inc. Reduces Holdings in Marathon Petroleum Co. (NYSE:MPC)

Moors & Cabot Inc. trimmed its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 3.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,387 shares of the oil and gas company’s stock after selling 386 shares during the quarter. Moors & Cabot Inc.’s holdings in Marathon Petroleum were worth $1,628,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in MPC. FinTrust Capital Advisors LLC increased its position in shares of Marathon Petroleum by 400.0% during the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Crewe Advisors LLC purchased a new stake in Marathon Petroleum in the 1st quarter valued at $29,000. ICA Group Wealth Management LLC purchased a new stake in Marathon Petroleum in the 4th quarter valued at $30,000. Vima LLC purchased a new stake in Marathon Petroleum in the 4th quarter valued at $30,000. Finally, TruNorth Capital Management LLC purchased a new stake in Marathon Petroleum in the 2nd quarter valued at $35,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Price Performance

MPC opened at $163.87 on Wednesday. The stock’s 50-day moving average price is $169.92 and its 200 day moving average price is $180.04. Marathon Petroleum Co. has a 12-month low of $139.32 and a 12-month high of $221.11. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86. The firm has a market cap of $57.74 billion, a price-to-earnings ratio of 8.19, a PEG ratio of 2.09 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The firm had revenue of $38.36 billion for the quarter, compared to analyst estimates of $36.66 billion. During the same quarter in the prior year, the company earned $5.32 EPS. Marathon Petroleum’s revenue was up 4.2% on a year-over-year basis. As a group, sell-side analysts expect that Marathon Petroleum Co. will post 12.68 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio is currently 16.48%.

Wall Street Analyst Weigh In

Several analysts have issued reports on MPC shares. TD Cowen upped their target price on Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. StockNews.com cut Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Wells Fargo & Company dropped their target price on Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Barclays dropped their target price on Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a report on Monday, July 1st. Finally, Raymond James lowered their price target on Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating for the company in a report on Thursday, May 30th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus 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.