My Legacy Advisors LLC Has $454,000 Holdings in Marathon Petroleum Co. (NYSE:MPC)

My Legacy Advisors LLC cut its position in Marathon Petroleum Co. (NYSE:MPC) by 21.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,786 shares of the oil and gas company’s stock after selling 739 shares during the period. My Legacy Advisors LLC’s holdings in Marathon Petroleum were worth $454,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James & Associates raised its stake in shares of Marathon Petroleum by 2.6% in the second quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company’s stock worth $743,690,000 after acquiring an additional 107,915 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Marathon Petroleum by 1.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company’s stock worth $620,815,000 after acquiring an additional 31,100 shares during the last quarter. Boston Partners raised its stake in shares of Marathon Petroleum by 0.3% in the first quarter. Boston Partners now owns 2,773,050 shares of the oil and gas company’s stock worth $558,390,000 after acquiring an additional 8,476 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Marathon Petroleum by 8.5% in the second quarter. Pacer Advisors Inc. now owns 2,669,815 shares of the oil and gas company’s stock worth $463,160,000 after acquiring an additional 209,270 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Marathon Petroleum by 7.6% in the first quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company’s stock worth $335,241,000 after acquiring an additional 117,790 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MPC shares. Piper Sandler dropped their price target on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. TD Cowen boosted their price target on shares of Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Tudor Pickering downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 9th. Wells Fargo & Company dropped their price target on shares of Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Finally, Tudor, Pickering, Holt & Co. downgraded shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research note on Monday, September 9th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $187.00.

Marathon Petroleum Stock Up 0.8 %

Marathon Petroleum stock opened at $158.24 on Wednesday. The stock has a market capitalization of $55.75 billion, a PE ratio of 7.90, a price-to-earnings-growth ratio of 2.65 and a beta of 1.37. Marathon Petroleum Co. has a twelve month low of $140.98 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 of $166.98 and a 200-day moving average of $174.53.

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, beating 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 company had revenue of $38.36 billion during the quarter, compared to analysts’ expectations of $36.66 billion. During the same quarter in the prior year, the company earned $5.32 earnings per share. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts anticipate that Marathon Petroleum Co. will post 10.22 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were issued a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Petroleum’s payout ratio is 16.48%.

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.