Cambridge Investment Research Advisors Inc. Cuts Holdings in Marathon Petroleum Corporation (NYSE:MPC)

Cambridge Investment Research Advisors Inc. cut its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,421 shares of the oil and gas company’s stock after selling 1,992 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Marathon Petroleum were worth $9,968,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MPC. Fourth Dimension Wealth LLC acquired a new position in Marathon Petroleum in the 4th quarter valued at about $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Marathon Petroleum in the fourth quarter worth about $27,000. Cape Investment Advisory Inc. boosted its stake in shares of Marathon Petroleum by 762.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 267 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of Marathon Petroleum in the 4th quarter worth about $44,000. Finally, Capital A Wealth Management LLC bought a new stake in Marathon Petroleum in the fourth quarter valued at about $52,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 0.4%

Shares of Marathon Petroleum stock opened at $165.87 on Thursday. The company has a market capitalization of $50.96 billion, a P/E ratio of 23.33, a price-to-earnings-growth ratio of 3.26 and a beta of 0.89. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 0.73. The business has a 50-day moving average of $154.31 and a two-hundred day moving average of $147.18. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $183.31.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.16. The business had revenue of $31.85 billion during the quarter, compared to analysts’ expectations of $28.91 billion. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. Marathon Petroleum’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.58 EPS. As a group, equities analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were issued a dividend of $0.91 per share. The ex-dividend date was Wednesday, May 21st. This represents a $3.64 annualized dividend and a yield of 2.19%. Marathon Petroleum’s payout ratio is presently 51.20%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. TD Cowen lifted their price objective on shares of Marathon Petroleum from $152.00 to $163.00 and gave the stock a “buy” rating in a research note on Tuesday, June 10th. Piper Sandler dropped their target price on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Barclays boosted their price target on shares of Marathon Petroleum from $141.00 to $159.00 and gave the company an “overweight” rating in a report on Monday, May 12th. Finally, Wall Street Zen raised shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $175.80.

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.