Spirit of America Management Corp NY Lowers Holdings in Marathon Petroleum Co. (NYSE:MPC)

Spirit of America Management Corp NY lowered its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 11.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 63,075 shares of the oil and gas company’s stock after selling 7,950 shares during the period. Marathon Petroleum makes up approximately 2.0% of Spirit of America Management Corp NY’s holdings, making the stock its 9th biggest position. Spirit of America Management Corp NY’s holdings in Marathon Petroleum were worth $10,276,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of MPC. International Assets Investment Management LLC lifted its stake in Marathon Petroleum by 19,153.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company’s stock valued at $213,605,000 after acquiring an additional 1,304,372 shares during the period. Granite Bay Wealth Management LLC bought a new position in shares of Marathon Petroleum in the 2nd quarter worth approximately $219,537,000. Capital Wealth Planning LLC lifted its stake in shares of Marathon Petroleum by 10,902.9% in the 1st quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock worth $223,792,000 after purchasing an additional 1,100,536 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Marathon Petroleum by 980.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company’s stock worth $118,785,000 after purchasing an additional 621,336 shares during the period. Finally, Panagora Asset Management Inc. lifted its stake in shares of Marathon Petroleum by 64.1% in the 2nd quarter. Panagora Asset Management Inc. now owns 619,049 shares of the oil and gas company’s stock worth $107,393,000 after purchasing an additional 241,746 shares during the period. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Down 0.6 %

Shares of MPC opened at $152.88 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90. Marathon Petroleum Co. has a 1 year low of $140.98 and a 1 year high of $221.11. The company has a 50 day simple moving average of $166.48 and a two-hundred day simple moving average of $174.39. The firm has a market cap of $53.86 billion, a P/E ratio of 7.64, a price-to-earnings-growth ratio of 2.65 and a beta of 1.37.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, beating 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 business had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. During the same period last year, the firm posted $5.32 EPS. The company’s revenue was up 4.2% on a year-over-year basis. On average, equities analysts expect that Marathon Petroleum Co. will post 10.22 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio (DPR) is currently 16.48%.

Wall Street Analysts Forecast Growth

MPC has been the topic of several recent research reports. Tudor Pickering cut shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. lowered their price objective 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 lowered their price objective 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. Piper Sandler lowered their price objective on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Finally, BMO Capital Markets reduced their target price on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, October 4th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $187.00.

Marathon Petroleum 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.