Nemes Rush Group LLC Trims Position in Marathon Petroleum Co. (NYSE:MPC)

Nemes Rush Group LLC lowered its position in Marathon Petroleum Co. (NYSE:MPC) by 3.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,580 shares of the oil and gas company’s stock after selling 1,134 shares during the quarter. Nemes Rush Group LLC’s holdings in Marathon Petroleum were worth $6,346,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Scarborough Advisors LLC grew its stake in shares of Marathon Petroleum by 10.7% in the 4th quarter. Scarborough Advisors LLC now owns 2,174 shares of the oil and gas company’s stock valued at $323,000 after buying an additional 210 shares during the period. Global Assets Advisory LLC purchased a new position in Marathon Petroleum in the first quarter worth approximately $36,823,000. Founders Financial Securities LLC increased its stake in Marathon Petroleum by 22.8% during the second quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock worth $863,000 after acquiring an additional 924 shares during the last quarter. Fidelis Capital Partners LLC raised its position in Marathon Petroleum by 3.2% in the first quarter. Fidelis Capital Partners LLC now owns 3,050 shares of the oil and gas company’s stock valued at $615,000 after purchasing an additional 94 shares during the period. Finally, LRI Investments LLC acquired a new position in shares of Marathon Petroleum in the 1st quarter valued at $97,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $163.65 on Friday. The stock’s 50-day moving average is $169.70 and its two-hundred day moving average is $179.24. 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 company has a market cap of $57.66 billion, a price-to-earnings ratio of 8.17, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38. Marathon Petroleum Co. has a 1-year low of $139.32 and a 1-year high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS 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 company had revenue of $38.36 billion during the quarter, compared to analysts’ expectations of $36.66 billion. During the same quarter in the previous year, the business posted $5.32 EPS. The firm’s revenue was up 4.2% on a year-over-year basis. Analysts forecast that Marathon Petroleum Co. will post 10.56 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 2.02%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s payout ratio is currently 16.48%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MPC shares. Tudor, Pickering, Holt & Co. downgraded Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. Mizuho dropped their price target on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. JPMorgan Chase & Co. decreased their price objective on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Tudor Pickering downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 9th. Finally, Wolfe Research started coverage on Marathon Petroleum in a research note on Thursday, July 18th. They set an “outperform” rating and a $200.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Hold” and a consensus target price of $197.69.

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.