Doheny Asset Management CA Reduces Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Doheny Asset Management CA lowered its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 23.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,701 shares of the oil and gas company’s stock after selling 1,727 shares during the period. Doheny Asset Management CA’s holdings in Marathon Petroleum were worth $989,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Duff & Phelps Investment Management Co. boosted its position in Marathon Petroleum by 51.6% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 77,480 shares of the oil and gas company’s stock valued at $13,441,000 after buying an additional 26,375 shares during the period. Dorsey Wright & Associates lifted its position in shares of Marathon Petroleum by 147.6% in the 2nd quarter. Dorsey Wright & Associates now owns 24,375 shares of the oil and gas company’s stock worth $4,229,000 after purchasing an additional 14,532 shares during the period. Scientech Research LLC purchased a new stake in shares of Marathon Petroleum in the 2nd quarter worth about $1,763,000. MBB Public Markets I LLC purchased a new stake in shares of Marathon Petroleum in the 2nd quarter worth about $4,467,000. Finally, AQR Capital Management LLC lifted its position in shares of Marathon Petroleum by 17.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,197,401 shares of the oil and gas company’s stock worth $207,186,000 after purchasing an additional 180,213 shares during the period. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MPC shares. JPMorgan Chase & Co. dropped their target price on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Scotiabank dropped their target price on shares of Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Tudor, Pickering, Holt & Co. cut shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. Wolfe Research started coverage on shares of Marathon Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price target for the company. Finally, Wells Fargo & Company decreased their price target on shares of Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $197.69.

Marathon Petroleum Stock Up 0.1 %

NYSE:MPC opened at $163.65 on Friday. The firm has a market cap of $57.66 billion, a P/E ratio of 8.17, a P/E/G ratio of 2.59 and a beta of 1.38. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31. Marathon Petroleum Co. has a fifty-two week low of $139.32 and a fifty-two week high of $221.11. The firm has a 50-day simple moving average of $169.70 and a two-hundred day simple moving average of $179.24.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. The business had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. Marathon Petroleum’s revenue was up 4.2% compared to the same quarter last year. During the same period last year, the business earned $5.32 EPS. Analysts predict that Marathon Petroleum Co. will post 10.56 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

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