Financial Insights Inc. Has $506,000 Holdings in Marathon Petroleum Co. (NYSE:MPC)

Financial Insights Inc. cut its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 51.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,109 shares of the oil and gas company’s stock after selling 3,337 shares during the period. Financial Insights Inc.’s holdings in Marathon Petroleum were worth $506,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Accordant Advisory Group Inc increased its holdings in shares of Marathon Petroleum by 4.8% during the third quarter. Accordant Advisory Group Inc now owns 15,267 shares of the oil and gas company’s stock worth $2,487,000 after buying an additional 700 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Marathon Petroleum by 7.0% during the third quarter. Sequoia Financial Advisors LLC now owns 15,361 shares of the oil and gas company’s stock worth $2,502,000 after buying an additional 1,006 shares in the last quarter. Oakworth Capital Inc. increased its holdings in Marathon Petroleum by 9.1% in the third quarter. Oakworth Capital Inc. now owns 6,960 shares of the oil and gas company’s stock valued at $1,134,000 after purchasing an additional 578 shares during the period. Winch Advisory Services LLC increased its holdings in Marathon Petroleum by 96.0% in the third quarter. Winch Advisory Services LLC now owns 545 shares of the oil and gas company’s stock valued at $89,000 after purchasing an additional 267 shares during the period. Finally, Raleigh Capital Management Inc. increased its holdings in Marathon Petroleum by 7.8% in the third quarter. Raleigh Capital Management Inc. now owns 1,874 shares of the oil and gas company’s stock valued at $305,000 after purchasing an additional 135 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MPC has been the subject of a number of recent research reports. Barclays decreased their price objective on Marathon Petroleum from $180.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. TD Cowen increased their price objective on Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Piper Sandler decreased their price objective on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Morgan Stanley decreased their price objective on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Finally, Bank of America assumed coverage on Marathon Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price objective for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $187.00.

Marathon Petroleum Price Performance

MPC stock opened at $158.24 on Wednesday. The stock has a market capitalization of $55.75 billion, a PE ratio of 7.90, a price-to-earnings-growth ratio of 2.65 and a beta of 1.37. The company’s 50-day moving average is $166.98 and its 200-day moving average is $174.53. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90. Marathon Petroleum Co. has a 1 year low of $140.98 and a 1 year high of $221.11.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. The company had revenue of $38.36 billion for the quarter, compared to analysts’ expectations of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The business’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.32 EPS. Equities research analysts expect that Marathon Petroleum Co. will post 10.22 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were given a $0.825 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $3.30 annualized dividend and a yield of 2.09%. Marathon Petroleum’s payout ratio is 16.48%.

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.