Miracle Mile Advisors LLC Reduces Position in Marathon Petroleum Co. (NYSE:MPC)

Miracle Mile Advisors LLC decreased its holdings in Marathon Petroleum Co. (NYSE:MPC) by 11.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 6,627 shares of the oil and gas company’s stock after selling 842 shares during the period. Miracle Mile Advisors LLC’s holdings in Marathon Petroleum were worth $965,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of MPC. Sivia Capital Partners LLC grew its stake in Marathon Petroleum by 7.7% in the 1st quarter. Sivia Capital Partners LLC now owns 1,755 shares of the oil and gas company’s stock valued at $256,000 after buying an additional 126 shares in the last quarter. Piscataqua Savings Bank boosted its holdings in shares of Marathon Petroleum by 3.4% in the first quarter. Piscataqua Savings Bank now owns 4,891 shares of the oil and gas company’s stock worth $713,000 after acquiring an additional 160 shares during the period. Princeton Global Asset Management LLC boosted its holdings in shares of Marathon Petroleum by 1.6% in the first quarter. Princeton Global Asset Management LLC now owns 24,941 shares of the oil and gas company’s stock worth $3,634,000 after acquiring an additional 390 shares during the period. Gateway Investment Advisers LLC grew its position in shares of Marathon Petroleum by 5.2% in the first quarter. Gateway Investment Advisers LLC now owns 36,833 shares of the oil and gas company’s stock valued at $5,366,000 after purchasing an additional 1,830 shares in the last quarter. Finally, Procyon Advisors LLC bought a new stake in shares of Marathon Petroleum during the 1st quarter valued at $860,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 0.1%

MPC opened at $160.25 on Tuesday. Marathon Petroleum Co. has a 12 month low of $115.10 and a 12 month high of $183.31. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The business’s 50-day moving average price is $144.11 and its 200-day moving average price is $146.08. The company has a market cap of $49.23 billion, a P/E ratio of 16.14, a P/E/G ratio of 3.11 and a beta of 0.89.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.16. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The business had revenue of $31.85 billion during the quarter, compared to analysts’ expectations of $28.91 billion. During the same quarter in the prior year, the company posted $2.58 EPS. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, equities analysts expect that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a dividend of $0.91 per share. The ex-dividend date is Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a yield of 2.27%. Marathon Petroleum’s dividend payout ratio is presently 51.20%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Raymond James lowered their price target on shares of Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 9th. Piper Sandler lowered their target price on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Wells Fargo & Company raised their price target on shares of Marathon Petroleum from $175.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, May 13th. Mizuho upped their price target on shares of Marathon Petroleum from $168.00 to $184.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. Finally, Wall Street Zen upgraded Marathon Petroleum from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average target price of $175.29.

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.