Welch & Forbes LLC Sells 400 Shares of Marathon Petroleum Co. (NYSE:MPC)

Welch & Forbes LLC decreased its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 3.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 10,700 shares of the oil and gas company’s stock after selling 400 shares during the quarter. Welch & Forbes LLC’s holdings in Marathon Petroleum were worth $661,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of MPC. Man Group plc acquired a new stake in shares of Marathon Petroleum during the 1st quarter valued at about $654,000. TownSquare Capital LLC boosted its position in shares of Marathon Petroleum by 17.4% during the 1st quarter. TownSquare Capital LLC now owns 20,806 shares of the oil and gas company’s stock valued at $1,113,000 after acquiring an additional 3,082 shares in the last quarter. Virtu Financial LLC acquired a new position in Marathon Petroleum in the first quarter valued at about $620,000. Baker Tilly Wealth Management LLC acquired a new position in Marathon Petroleum in the first quarter valued at about $264,000. Finally, Axiom Investment Management LLC acquired a new position in Marathon Petroleum in the first quarter valued at about $208,000. Institutional investors and hedge funds own 75.40% of the company’s stock.

A number of brokerages have weighed in on MPC. Raymond James boosted their target price on shares of Marathon Petroleum from $75.00 to $85.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, November 2nd. The Goldman Sachs Group downgraded shares of Marathon Petroleum from a “conviction-buy” rating to a “buy” rating in a research note on Wednesday, November 3rd. Credit Suisse Group upped their target price on shares of Marathon Petroleum from $74.00 to $78.00 and gave the company an “outperform” rating in a research note on Monday, November 8th. Wells Fargo & Company upped their target price on shares of Marathon Petroleum from $73.00 to $87.00 and gave the company an “overweight” rating in a research note on Monday, November 15th. Finally, Morgan Stanley began coverage on shares of Marathon Petroleum in a research note on Tuesday, September 7th. They issued an “overweight” rating and a $75.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $72.38.

Shares of MPC stock opened at $64.55 on Thursday. The stock has a market cap of $39.74 billion, a P/E ratio of 4.61, a P/E/G ratio of 1.47 and a beta of 2.10. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.02 and a quick ratio of 1.48. The company has a fifty day moving average price of $64.17 and a two-hundred day moving average price of $60.66. Marathon Petroleum Co. has a one year low of $38.30 and a one year high of $68.78.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Monday, November 1st. The oil and gas company reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The company had revenue of $32.61 billion for the quarter, compared to analyst estimates of $17.12 billion. Marathon Petroleum had a net margin of 8.85% and a return on equity of 0.50%. During the same period in the prior year, the firm earned ($1.00) earnings per share. As a group, equities research analysts anticipate that Marathon Petroleum Co. will post 1.72 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 10th. Stockholders of record on Wednesday, November 17th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 3.59%. The ex-dividend date is Tuesday, November 16th. Marathon Petroleum’s payout ratio is presently 16.56%.

In related news, Director Charles E. Bunch acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, November 24th. The shares were bought at an average cost of $64.30 per share, with a total value of $64,300.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.30% of the stock is owned by corporate insiders.

Marathon Petroleum Profile

Marathon Petroleum Corp. is an independent company, which engages in refining, marketing, and transportation of petroleum products in the United States. Itoperates through the following segments: Refining and Marketing; Retail; and Midstream. The Refining and Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States; purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals, and trucks that the company owns or operates.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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