Aspiriant LLC Decreases Holdings in Marathon Petroleum Co. (NYSE:MPC)

Aspiriant LLC trimmed its stake in Marathon Petroleum Co. (NYSE:MPC) by 11.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,714 shares of the oil and gas company’s stock after selling 870 shares during the quarter. Aspiriant LLC’s holdings in Marathon Petroleum were worth $1,094,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Granite Bay Wealth Management LLC bought a new position in shares of Marathon Petroleum in the second quarter valued at approximately $219,537,000. Capital Wealth Planning LLC boosted its holdings in Marathon Petroleum by 10,902.9% in the 1st quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock valued at $223,792,000 after purchasing an additional 1,100,536 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Marathon Petroleum by 980.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company’s stock valued at $118,785,000 after purchasing an additional 621,336 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Marathon Petroleum by 64.1% in the second quarter. Panagora Asset Management Inc. now owns 619,049 shares of the oil and gas company’s stock worth $107,393,000 after purchasing an additional 241,746 shares during the period. Finally, Pacer Advisors Inc. raised its position in shares of Marathon Petroleum by 8.5% in the second quarter. Pacer Advisors Inc. now owns 2,669,815 shares of the oil and gas company’s stock worth $463,160,000 after buying an additional 209,270 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Stock Down 0.3 %

Marathon Petroleum stock traded down $0.51 on Friday, hitting $157.80. 429,345 shares of the stock traded hands, compared to its average volume of 2,674,043. The business’s fifty day simple moving average is $168.07 and its 200 day simple moving average is $176.22. The firm has a market cap of $55.60 billion, a P/E ratio of 7.91, a price-to-earnings-growth ratio of 2.65 and a beta of 1.37. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86. Marathon Petroleum Co. has a 1 year low of $140.98 and a 1 year high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS 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 firm had revenue of $38.36 billion for the quarter, compared to analysts’ expectations of $36.66 billion. During the same quarter in the prior year, the company posted $5.32 earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, sell-side analysts forecast that Marathon Petroleum Co. will post 10.22 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The business also recently announced 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 2.09%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Analysts Set New Price Targets

Several brokerages have recently commented on MPC. Morgan Stanley cut 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. Wolfe Research began coverage on shares of Marathon Petroleum in a research report on Thursday, July 18th. They set an “outperform” rating and a $200.00 price target on the stock. Tudor Pickering cut shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. Bank of America began coverage on Marathon Petroleum in a report on Thursday. They set a “neutral” rating and a $174.00 target price for the company. Finally, Barclays decreased their price target on Marathon Petroleum from $180.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $187.00.

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.