Simplicity Wealth LLC Trims Position in Marathon Petroleum Co. (NYSE:MPC)

Simplicity Wealth LLC trimmed its holdings in Marathon Petroleum Co. (NYSE:MPC) by 75.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,751 shares of the oil and gas company’s stock after selling 8,248 shares during the period. Simplicity Wealth LLC’s holdings in Marathon Petroleum were worth $448,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Global Assets Advisory LLC purchased a new stake in shares of Marathon Petroleum in the first quarter valued at about $36,823,000. Founders Financial Securities LLC raised its holdings in shares of Marathon Petroleum by 22.8% in the second quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock valued at $863,000 after buying an additional 924 shares during the last quarter. Fidelis Capital Partners LLC increased its stake in shares of Marathon Petroleum by 3.2% during the first quarter. Fidelis Capital Partners LLC now owns 3,050 shares of the oil and gas company’s stock worth $615,000 after acquiring an additional 94 shares during the period. LRI Investments LLC acquired a new position in shares of Marathon Petroleum during the first quarter worth about $97,000. Finally, Magnolia Capital Advisors LLC increased its stake in shares of Marathon Petroleum by 353.4% during the second quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock worth $9,713,000 after acquiring an additional 43,639 shares during the period. 76.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MPC has been the topic of a number of recent analyst reports. Mizuho dropped their price target on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. JPMorgan Chase & Co. dropped their price target on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Wells Fargo & Company dropped their price target on shares of Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Tudor, Pickering, Holt & Co. lowered shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. Finally, Tudor Pickering lowered shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $190.73.

Marathon Petroleum Trading Down 0.4 %

Shares of MPC opened at $164.26 on Monday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90. The firm has a 50 day simple moving average of $168.89 and a 200-day simple moving average of $177.06. Marathon Petroleum Co. has a 1-year low of $140.98 and a 1-year high of $221.11. The stock has a market cap of $57.87 billion, a price-to-earnings ratio of 8.20, a price-to-earnings-growth ratio of 2.65 and a beta of 1.37.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $36.66 billion. During the same quarter last year, the business earned $5.32 earnings per share. Marathon Petroleum’s revenue was up 4.2% compared to the same quarter last year. Equities analysts forecast that Marathon Petroleum Co. will post 10.22 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were given a dividend of $0.825 per share. The ex-dividend date was Wednesday, August 21st. This represents a $3.30 dividend on an annualized basis and a yield of 2.01%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 16.48%.

About Marathon Petroleum

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.