Assetmark Inc. Lowers Stake in Marathon Petroleum Corporation $MPC

Assetmark Inc. decreased its position in Marathon Petroleum Corporation (NYSE:MPC) by 15.0% in the third quarter, Holdings Channel reports. The firm owned 38,149 shares of the oil and gas company’s stock after selling 6,722 shares during the period. Assetmark Inc.’s holdings in Marathon Petroleum were worth $7,353,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MPC. Delos Wealth Advisors LLC purchased a new stake in Marathon Petroleum in the second quarter worth about $25,000. NewSquare Capital LLC increased its position in Marathon Petroleum by 103.1% during the 2nd quarter. NewSquare Capital LLC now owns 199 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 101 shares during the period. WFA of San Diego LLC bought a new stake in shares of Marathon Petroleum in the 2nd quarter valued at about $33,000. Transce3nd LLC lifted its position in shares of Marathon Petroleum by 10,250.0% in the 2nd quarter. Transce3nd LLC now owns 207 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 205 shares during the period. Finally, Stone House Investment Management LLC boosted its stake in shares of Marathon Petroleum by 46.1% during the second quarter. Stone House Investment Management LLC now owns 225 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 71 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Trading Up 2.7%

Shares of Marathon Petroleum stock opened at $203.33 on Tuesday. The firm has a 50-day simple moving average of $179.12 and a two-hundred day simple moving average of $182.49. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.79 and a current ratio of 1.32. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $210.32. The company has a market cap of $61.12 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 1.32 and a beta of 0.74.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.34. The firm had revenue of $35.10 billion during the quarter, compared to the consensus estimate of $30.89 billion. Marathon Petroleum had a net margin of 2.99% and a return on equity of 14.00%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 EPS. As a group, equities analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 18th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Wednesday, February 18th. Marathon Petroleum’s dividend payout ratio (DPR) is 29.96%.

Analysts Set New Price Targets

MPC has been the subject of a number of analyst reports. Mizuho upped their price objective on Marathon Petroleum from $198.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 13th. JPMorgan Chase & Co. reduced their target price on shares of Marathon Petroleum from $211.00 to $179.00 and set a “neutral” rating for the company in a report on Tuesday, January 13th. TD Cowen raised their price target on shares of Marathon Petroleum from $183.00 to $198.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Piper Sandler cut their price objective on shares of Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Finally, Barclays decreased their target price on shares of Marathon Petroleum from $202.00 to $194.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. Ten analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.19.

Marathon Petroleum Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.