Signaturefd LLC Cuts Stake in Marathon Petroleum Co. (NYSE:MPC)

Signaturefd LLC reduced its stake in Marathon Petroleum Co. (NYSE:MPC) by 1.7% during the third quarter, HoldingsChannel reports. The fund owned 12,956 shares of the oil and gas company’s stock after selling 220 shares during the period. Signaturefd LLC’s holdings in Marathon Petroleum were worth $2,111,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of MPC. Atlas Capital Advisors LLC lifted its holdings in shares of Marathon Petroleum by 7.8% during the first quarter. Atlas Capital Advisors LLC now owns 4,862 shares of the oil and gas company’s stock valued at $980,000 after purchasing an additional 351 shares in the last quarter. Brookstone Capital Management lifted its holdings in shares of Marathon Petroleum by 30.5% during the first quarter. Brookstone Capital Management now owns 21,150 shares of the oil and gas company’s stock valued at $4,262,000 after purchasing an additional 4,947 shares in the last quarter. Sovereign Financial Group Inc. bought a new position in shares of Marathon Petroleum during the first quarter valued at $284,000. GoalVest Advisory LLC lifted its holdings in Marathon Petroleum by 16.9% in the first quarter. GoalVest Advisory LLC now owns 1,066 shares of the oil and gas company’s stock valued at $215,000 after acquiring an additional 154 shares during the period. Finally, DGS Capital Management LLC bought a new position in Marathon Petroleum in the first quarter valued at about $239,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on MPC. Tudor Pickering downgraded Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 9th. Tudor, Pickering, Holt & Co. downgraded Marathon Petroleum from a “buy” rating to a “sell” rating in a report on Monday, September 9th. TD Cowen increased their target price on Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Mizuho decreased their price objective on Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Finally, Bank of America began coverage on Marathon Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.00.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $158.24 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86. Marathon Petroleum Co. has a 12-month low of $140.98 and a 12-month high of $221.11. The stock has a 50-day moving average price of $166.98 and a 200 day moving average price of $174.53. The stock has a market capitalization of $55.75 billion, a P/E ratio of 7.90, a P/E/G ratio of 2.65 and a beta of 1.37.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $1.03. The firm had revenue of $38.36 billion during the quarter, compared to analysts’ expectations of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $5.32 earnings per share. Equities research analysts forecast that Marathon Petroleum Co. will post 10.22 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders 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 was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio is presently 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.