Financial Management Professionals Inc. Reduces Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Financial Management Professionals Inc. cut its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 7.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 853 shares of the oil and gas company’s stock after selling 73 shares during the quarter. Financial Management Professionals Inc.’s holdings in Marathon Petroleum were worth $172,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MPC. Mutual Advisors LLC increased its holdings in Marathon Petroleum by 21.1% during the 3rd quarter. Mutual Advisors LLC now owns 3,610 shares of the oil and gas company’s stock worth $546,000 after purchasing an additional 628 shares during the last quarter. CWA Asset Management Group LLC bought a new stake in shares of Marathon Petroleum in the 3rd quarter valued at approximately $251,000. Teza Capital Management LLC bought a new stake in shares of Marathon Petroleum in the 3rd quarter valued at approximately $1,969,000. Ancora Advisors LLC increased its holdings in shares of Marathon Petroleum by 1.0% in the 3rd quarter. Ancora Advisors LLC now owns 15,129 shares of the oil and gas company’s stock valued at $2,290,000 after acquiring an additional 157 shares during the last quarter. Finally, Ironwood Investment Counsel LLC bought a new stake in shares of Marathon Petroleum in the 3rd quarter valued at approximately $204,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Bank of America boosted their price target on Marathon Petroleum from $185.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Mizuho lowered their price target on Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating for the company in a report on Thursday, June 20th. Scotiabank boosted their price objective on Marathon Petroleum from $175.00 to $207.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Wells Fargo & Company reduced their price objective on Marathon Petroleum from $227.00 to $223.00 and set an “overweight” rating for the company in a research report on Thursday, June 6th. Finally, Barclays reduced their price objective on Marathon Petroleum from $221.00 to $195.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $192.08.

Marathon Petroleum Trading Up 0.3 %

Shares of MPC stock opened at $173.48 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 1.43. Marathon Petroleum Co. has a 1 year low of $112.82 and a 1 year high of $221.11. The stock has a fifty day moving average of $178.71 and a two-hundred day moving average of $175.76. The firm has a market capitalization of $61.12 billion, a PE ratio of 8.67, a price-to-earnings-growth ratio of 1.62 and a beta of 1.45.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.25. The business had revenue of $32.71 billion during the quarter, compared to analyst estimates of $32.07 billion. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The company’s revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.09 earnings per share. As a group, research analysts expect that Marathon Petroleum Co. will post 17.85 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 16th were given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Marathon Petroleum announced that its Board of Directors has initiated a share repurchase program on Tuesday, April 30th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to repurchase up to 7.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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.