Lake Street Advisors Group LLC Cuts Stake in Marathon Petroleum Co. (NYSE:MPC)

Lake Street Advisors Group LLC reduced its position in Marathon Petroleum Co. (NYSE:MPC) by 41.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,271 shares of the oil and gas company’s stock after selling 3,028 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Marathon Petroleum were worth $741,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MPC. Gryphon Financial Partners LLC lifted its stake in shares of Marathon Petroleum by 81.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 4,226 shares of the oil and gas company’s stock worth $627,000 after buying an additional 1,895 shares during the period. Principal Securities Inc. acquired a new stake in shares of Marathon Petroleum during the fourth quarter worth $659,000. Cary Street Partners Investment Advisory LLC lifted its stake in shares of Marathon Petroleum by 3.5% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 6,477 shares of the oil and gas company’s stock worth $961,000 after buying an additional 218 shares during the period. Johnson Investment Counsel Inc. lifted its stake in shares of Marathon Petroleum by 9.1% during the fourth quarter. Johnson Investment Counsel Inc. now owns 14,605 shares of the oil and gas company’s stock worth $2,167,000 after buying an additional 1,221 shares during the period. Finally, QRG Capital Management Inc. lifted its stake in shares of Marathon Petroleum by 9.2% during the fourth quarter. QRG Capital Management Inc. now owns 53,707 shares of the oil and gas company’s stock worth $7,968,000 after buying an additional 4,523 shares during the period. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Down 1.5 %

MPC opened at $166.00 on Friday. Marathon Petroleum Co. has a twelve month low of $139.32 and a twelve month high of $221.11. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. The company has a 50-day moving average price of $171.21 and a 200 day moving average price of $180.32. The company has a market cap of $58.49 billion, a PE ratio of 8.29, a price-to-earnings-growth ratio of 2.33 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $36.66 billion. During the same quarter in the prior year, the firm earned $5.32 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. Sell-side analysts expect that Marathon Petroleum Co. will post 12.68 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a dividend of $0.825 per share. The ex-dividend date is Wednesday, August 21st. This represents a $3.30 annualized dividend and a dividend yield of 1.99%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MPC shares. Raymond James lowered their price objective on shares of Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating for the company in a research note on Thursday, May 30th. Wolfe Research assumed coverage on shares of Marathon Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price target on the stock. Mizuho lowered their price target on shares of Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Piper Sandler lowered their price target on shares of Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a report on Friday, June 14th. Finally, Scotiabank lowered their price target on shares of Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Six equities 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. Based on data from MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus target price of $198.38.

Marathon Petroleum 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.